India’s Startup Ecosystem Is the World’s Third Largest; Most of Its Unicorns Have Never Made a Profit
by India’s Startup Ecosystem Is the World’s Third Largest; Most of Its Unicorns Have Never Made a Profit – Commerce ministry report celebrates India’s position as the third-largest startup ecosystem globally by number of unicorn companies, separate analysis finds 73% of Indian unicorns have never reported an annual profit, ministry notes these two facts are both accurate and consistent with ‘the growth stage of ecosystem development’