From FY16 to FY23, startups contributed 10 to 15 percent to India’s gross domestic product (GDP) growth. In FY23, startups contributed about $140 billion to the economy, a figure projected to reach $1 trillion by 2030. India’s startup ecosystem has grown significantly over the past decade due to a vast consumer market, supportive government policies, a surge in venture capital (VC) funding, talent availability, and the younger generation's entrepreneurial spirit.
From FY16 to FY23, startups contributed 10 to 15 percent to India’s gross domestic product (GDP) growth. In FY23, startups contributed about $140 billion to the economy, a figure projected to reach $1 trillion by 2030. India’s startup ecosystem has grown significantly over the past decade due to a vast consumer market, supportive government policies, a surge in venture capital (VC) funding, talent availability, and the younger generation's entrepreneurial spirit.