Indian biz industry urged to reach ‘75 unicorns in 75 weeks’
The Union Commerce and Industry Minister Piyush Goyal is encouraging the Indian industry to raise 75 unicorns in the next 75 weeks, in time for the country’s 75th anniversary of Independence.
A unicorn is a term used for startup companies with a value of over US$1 billion.
Goyal said that they were able to add 43 unicorns in 45 weeks, starting the ‘Azadi ka Amrit Mahotsav’ celebrations last March 12, 2021.
He stated that the country has become the “hallmark of a trailblazer & is leaving its mark” in the global startup market.
The minister added that “investments received by Indian startups overshadowed pre-pandemic highs. 2021 will be remembered as the year Indian start-ups delivered on their promise, – fearlessly chasing opportunities across verticals…”
Goyal also recognized the Information Technology Enabled Services (ITES) and the Business Process Outsourcing (BPO) sectors’ record services exports in 2021 — reaching US$178 billion from April to December despite the pandemic.
