Delhi Beats Bengaluru To Become #1 Startup Hub Of India: 5000 Startups Born In Bengaluru
The Economic Survey 2021-22, presented by Finance Minister Nirmala Sitharaman on Jan 31, 2022 is followed by the Budget 2022 session, starting Feb 1, 2022.
The pre-Budget Economic Survey reviews the economic development over the past financial year, collated on the basis of detailed statistical data from all the sectors, along with examination of India’s macroeconomics in the past financial year, and highlights fiscal developments, external sector developments, monetary management, and inflation data, among others.
The Economic Survey 2022 on Monday informed that Delhi has surpassed Bengaluru as the startup capital in the country, adding more startups than the Indian Silicon Valley from April 2019 to December 2021.
Delhi Adds Higher Number of Startups in India
Bengaluru is known to be a startup hub in India, adding a plethora of startups every year.
However, according to the Economic Survey 2022 report on Monday, national capital Delhi has toppled Bengaluru from that status and has witnessed the most startup additions in the country over the past 2 years.
From April 2019 to December 2021, more than 5,000 recognised startups were added in Delhi, while 4,514 startups were added in Bengaluru, as per the startups registered under the government body Department for Promotion of Industry and Internal Trade (DPIIT).
Meanwhile, Maharashtra has emerged as the state with the highest number of recognised startups’ count at 11,308.
India Adds 44 Unicorns in 2021
India’s startup ecosystem has become the largest in the world after the US and China. In 5 years, startups in the country have created over 6 lakh jobs.
Moreover, India has witnessed the addition of 44 new unicorns in 2021, taking the total count to 83, while the US has added 487 unicorns and China, 301 unicorns in 2021.
India’s 83 unicorns have a total valuation of $277.7 billion, stated the Economic survey.
In 2021, they managed to raise over $35 billion, despite the second deadly wave of the Covid-19 pandemic in the first half of the year.
This was majorly led by meteoriing rate of digital adoption, bringing users and offices online, in conjugation with the government-fuelled liquidity boom that aided the companies to raise more capital than ever before at unprecedented valuations, cited a news report.