India Ranks 3rd Globally in Startup Ecosystem, Says Piyush Goyal

India’s startup scene has seen a massive boost over the past ten years, with companies raising more than $150 billion in funding. This announcement was made by Union Commerce and Industry Minister Piyush Goyal, who praised the strong spirit of entrepreneurship in the country.

Speaking at an industry event, Goyal said that India has now become the third-largest startup ecosystem in the world, only behind the United States and China. He said this is a clear sign that both international and local investors trust India’s talent, technology, and determination.

Goyal credited this success not just to hardworking Indian entrepreneurs, but also to government programs that have created a good environment for innovation. Initiatives like Startup India and Digital India, along with major reforms to make it easier to do business, have helped young companies grow in sectors such as finance, healthcare, agriculture, and clean energy.

The minister also pointed out that India is now home to over 110 unicorns, startups valued at more than $1 billion. He believes this number will keep growing, even though the global economy is uncertain, because investor confidence in Indian startups remains strong.

Goyal added that startups are no longer just based in big cities. More and more innovative ideas are coming from smaller towns and cities. He encouraged people from across the country to take advantage of better internet access and supportive government policies to follow their dreams.

After a decade of steady growth and billions of dollars in investment, India’s startup ecosystem is not only thriving, but it is also becoming a key part of the country’s economic future.