$400-500 bn to be invested in Indian start-ups

New Delhi: Amitabh Kant, chief executive officer of Niti Aayog said “Investment firms have flown into India in a big way and they will continue to come in. By 2026 the country will have almost 100,000 start-ups with an investment of $400-500 billion.”

Talking about rise in the number of students to join the startup bandwagon, Kant said that 37% of students of Indian Institute of Technology (IIT) Mumbai who passed out last year, either joined a startup or created a start-up. He was speaking at ‘Manifest – The Founders Summit’, a two day event co-organised by not-for-profit platform The PRomise Foundation and intellectual property specialist company Event Capital in Delhi.

Amitabh Kant also said “India has seen huge energy, vibrancy and dynamism in its start-up movement. There are some unique innovations that have been done by start-ups. This need to be given further fillip. We have close to about 19,000 start-ups in this country. In 2015 alone, we have seen close to about $8 billion getting invested in start-ups and the total investment in start-ups is about $15 billion. By 2025-26, I visualize from 19,000 we will go up to 100,000 startups. The total investment that will get into the start-ups will be $450-500 billion in India and the reason for that is that a lot of young people are getting into the start-up (space).”