Delhi, India’s new start-up hub: Economic Survey 2021-22

NEW DELHI: As per the Economic Survey 2021-22 issued on Monday, January 31, Delhi has surpassed Bengaluru as India’s start-up hub, with over 5000 recognised start-ups added in Delhi between April 2019 and December 2021, compared to 4514 in Bangalore over the same time.

According to the report, Maharashtra has the highest number of recognised start-ups, with 11,308 in the state. According to the survey, 555 districts would have at least one new start-up in 2021, compared to 121 districts in 2016-17.

Bengaluru has long been one of India’s greatest information technologies (IT) hubs, with Infosys and Wipro having their headquarters there, as well as hundreds of start-ups in the IT and knowledge-based sectors, according to the survey. Following the emergence of the novel coronavirus illness in 2020, technology businesses received a boost as demand for digitization of services increased. Many technology companies raised funds aggressively in order to take advantage of this rise in demand.

In 2021, not only the IT sector but also the space sector, experienced turmoil. In 2021, 47 new firms will be introduced in the sector, bringing the overall number of start-ups to 101.

According to the survey, India added over 14,000 new businesses in the broader ecosystem in 2021-22, bringing the total number of recognised start-ups in the country to over 61,400. After the United States and China, India now has the world’s third-largest start-up ecosystem.

According to the report, India has also surpassed the United Kingdom in terms of unicorns, with 44 companies becoming unicorns in 2021, a new high. The country now possesses the third-largest population of unicorns, trailing only the United States and China. India had 83 unicorns as of 14 January, with a total of $277.77 billion.