New Delhi: The Indian economy has witnessed the creation of 28 Unicorns, or a startup worth more than $ 1 billion, this year behind a series of reforms released by the government, Minister of Finance Nirmala Sitharaman said on Wednesday.
Overcoming the virtual conference organized by private equity of India and the Venture Capital Association (IVCA), the minister said the Indian economy had witnessed a spur of unprecedented growth in the form of startup in the past two decades.
The department for industrial and trade promotion (DPIIT) has recognized more than 56,630 startups in all districts throughout India, IVCA said in a statement quoting the Minister of Finance.
“Startup India has so far created 65 Unicorns where 28 has been made in 2021.
It shows that there is an increase in activity in this space and many capital from angel investors.
A series of reforms have been released.
The different alternative capacity of investment funds (AIF) has been given more Many flexibility, “he said.
Investment guidelines have been issued for invilent funds and pension funds, the Minister said, adding a window to report over-the-counter transactions has also been extended three hours.
Investor protection must be given consideration because it is a very important part of the trust strengthening for investors, he added.