44 Unicorns added in India from 2021-2021, says Nirmala Sitharaman

As many as 44 unicorns have been identified in India between 2020 and 2021, which have created wealth for India, FM Nirmala Sitharaman said in a reply on the Union Budget 2022 in the Lok Sabha today.

She said that it showcases India's talent and innovation. India has seen a startup boom in recent years, with more companies attaining the coveted unicorn status in the past few months.

Prime Minister Narendra Modi had also said on Febraury 8 that the world is appreciating the initiatives taken by India during the ongoing Covid-19 pandemic, adding that in just 1 year, the number of unicorns built in India has been equivalent to the total unicorns created in India ever.

As per the Economic Survey 2021-22 report, which was tabled in Parliament on January 31, the number of new recognised starups have increased to over 14,000 in 2021-22 from only 733 in 2016-17.

Over the recent years, Delhi has replaced Bangalore as the startup capital of India. Over 5,000 recognised startups were added in Delhi, while 4,514 startups were added in Bangalore between April 2019 to December 2021. 

With a total of 11,308 startups, Maharashtra has the highest number of recognised startups.

India also overtook the UK to emerge as the third highest country in the number of unicorns after US and China, which added 487 and 301 unicorns, respectively, in 2021. 

As of January 14, 2022, India has 83 unicorns, with a total valuation of $277.77 billion.