Indian startups, emerging entities attract over $150 billion funding in a decade, Says Piyush Goyal

India has witnessed a spectacular surge in private capital inflows over the last 11 years, with start-ups and emerging enterprises raising over $150 billion of private funding, Commerce and Industry Minister Piyush Goyal informed.

Goyal pointed out such growth during the discussion on the success of India's digital revolution under the leadership of Prime Minister Narendra Modi. He informed that the government's Fund of Funds for Startups program has enabled investments in excess of Rs 22,900 crore in 1,270+ startups, driving entrepreneurship throughout the nation.

Taking to X (formerly Twitter), Goyal remarked, “India is embracing technology like no other! This digital transformation is the outcome of the forward-looking vision and timely policy interventions under the leadership of Prime Minister Narendra Modi. Every section of society and every aspect of life has been positively impacted by 11 years of Digital India.”

From innovation to intellectual property, the startup ecosystem of India has seen its growth skyrocket. Domestic startups have seen 355% growth in patent applications and 543% growth in trademark applications between 2017 and 2024. This strong growth has positioned India at rank 39 on the Global Innovation Index 2024.

Goyal was full of pride as he spoke about the growth of India's startup ecosystem and credited the impetus for it to the revolutionary 'Startup India' program. "The incredible potential of our young people and women is fueling this revolution and propelling India's economy forward with unprecedented energy," he said.

India is now the world's third-largest startup ecosystem with over 1.5 lakh startups and over 100 unicorns.

Echoing Goyal's feelings, Minister of State for Commerce and Electronics & IT, Jitin Prasada, highlighted the widespread reach of Digital India, saying, "11 years of Digital India has empowered every citizen with seamless services, financial access, and last-mile connectivity."

Introduced in 2015, Digital India has become deeply rooted in the governance machinery and delivery machinery of welfare, significantly impacting marginalized populations. It has also played a core part in informing contemporary policy architectures around inclusion and innovation.

Prime Minister Narendra Modi also made his own observations on X, highlighting the way in which technology has revolutionized the governance. "Service delivery and transparency have been significantly enhanced. Technology has emerged as a tool of empowering the lives of the poorest of the poor," he mentioned.

Thanks to the pace accelerated by the ongoing digital growth, India's startup ecosystem and culture of innovation are ready to reach even higher peaks in the coming years.