India 3rd Globally in Terms of Unicorns: Invest India CEO

Invest India chief executive Deepak Bagla said on Friday that India is third in the world in terms of the number of unicorns, second on the number of startups and the first based on startups added every day.

At an event organized by the PHD Chamber of Commerce and Industry, he said this year, one out of every 10 unicorns – startups with a valuation of at least $1 billion – was born in India and the country has added 26 unicorns this year, taking the total number to 63.

“India has 739 districts and over 85% of them have a startup which is registered with government.

The solutions these startups bring are easily executable and economical. That’s the strength of this innovation,” Bagla said.

He also said in the past 60 months, over a thousand R&D centers of multinational firms opened in India and today India is the number one destination for such centers of MNCs outside of their headquarters.

“The inherent strength of our MSMEs and entrepreneurs and their ability to be nimble in their operations has fast tracked innovation,” he said. S-ET

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