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The number of newly founded startups has increased from 733 in 2016–17 to over 14000 in 2021–22, making India the third largest startup ecosystem in the world after the US and China. [3] Among them, around 6600 startups have been in the FinTech industry, evaluating a market value of US$31 billion in 2021. [4]
The Electronics Committee also known as the "Bhabha Committee" created a 10-year (1966–1975) plan laying the foundation for India's IT Service Industries. [10] The industry was born in Mumbai in 1967 with the establishment of Tata Consultancy Services [11] who in 1977 partnered with Burroughs which began India's export of IT services. [12]
The Department for Promotion of Industry and Internal Trade (DPIIT) is a central government department under the Ministry of Commerce and Industry in India. It is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives.
Software Technology Parks of India (STPI) is an S&T autonomous society under Ministry of Electronics and Information Technology (MeitY) engaged in promoting IT/ ITES Industry, Innovation, R&D, Start-ups, Product/ IP creation in the field of emerging technologies like Internet of Things (IoT), Blockchain, Artificial Intelligence (AI), Machine Learning (ML), Computer Vision, Robotics, Augmented ...
In 2019, India was ranked at 63rd place out of 190 countries in the World Bank's ease of doing business index, [25] up from 130th in 2016. [26] In February 2017, the government appointed the United Nations Development Programme (UNDP) and the National Productivity Council "to sensitise actual users and get their feedback on various reform measures."
In 2017 the government of Vietnam opened discussions with the government of India on emulating its use of cybersecurity and egovernance. [55] At the launch ceremony of Digital India Week by Prime Minister Modi in Delhi on 1 July 2015, CEOs from India and abroad committed to invest ₹ 224.5 lakh crore (US$2.6 trillion) towards the initiative. [56]
NSE EMERGE [2] is the National Stock Exchange of India's new initiative for small and medium-sized enterprises and startup companies from India. [3] These companies can get listed on NSE without Initial public offering (IPO). This platform helps SMEs and Startups to connect with investors for funding. [4]
This is a list of unicorn startup companies: In finance, a unicorn is a privately held startup company with a current valuation of US$1 billion or more. Notable lists of unicorn companies are maintained by The Wall Street Journal , [ 1 ] Fortune Magazine , [ 2 ] CNNMoney / CB Insights , [ 3 ] [ 4 ] TechCrunch , [ 5 ] PitchBook/Morningstar, [ 6 ...