India to create 1 lakh startups by 2025
India will create one lakh
According to the Global Education Chairman TV Mohandas Pai, these new startups will solve all the future problems of India. Pai also believes that this thriving ecosystem of startups will create a cumulative valuation of $500 billion, being the large shareholder in India's economy. The impact made by current startups is already helping the country.
TV Mohandas Pai said, "By 2025, I believe that we will have 1,00,000 startups all over the country. They will create USD 500 billion of value and lot of money for investors. They will employ 3.25 million people. Youngsters through the use of technology are solving hardcore challenges and I believe that innovation by young people will transform India." He was speaking at an event of Rajasthan Digifest.
Many sectors like education, e-commerce, and healthcare are being disrupted with the help of tech startups. Modi government's Startup India is acting as a push to boost the development of startup ecosystem. The government is trying to create an environment for the startups to grow and nurture within the country.
Pai has been a successful angel investor. He has personally invested in companies like Zoomcar, YourStory, Fab hotel, Online RTI, Jigsaw Academy. He manages an angel fund called Aarin Capital. Pai believes that India can possibly become the third largest startup ecosystem after the US and China.
India currently has 32,000 registered startup companies. The number is growing by 7,000 each year. The central government and local bodies are working together to support the development of these startups. Indian startup ecosystem currently employs a large pool of human resources.
- Rajat Kabade