400% growth! Indian startups to grow four times, create 12.5 lakh direct jobs by 2025 - Check report
The Indian start-up ecosystem is set to grow four times and create up to 12.5 lakh jobs by 2025, predicts a new report by industry body National Association of Software and Services Companies (Nasscom).
The Indian start-up ecosystem is set to grow four times and create up to 12.5 lakh jobs by 2025, predicts a new report by industry body National Association of Software and Services Companies (Nasscom). Currently, Indian startups have 3.9-4.3 lakh direct jobs. The report says that indirect jobs will also witness a massive jump to 39-44 lakh by 2025 from 14-16 lakh jobs this year. The report titled "India's Tech Start-up Ecosystem" adds that exposure to internet in non-metropolitan cities will allow companies to hire better talent at lower costs.
"India's talent base is expanding beyond large cities as fresh graduates are choosing to stay back in non-metropolitan cities. These individuals have an almost similar exposure to technologies via the Internet. This enables the founders to recruit quality talent at a relatively lesser cost - allowing better runway and also a base for growth," said the report.
The research found that 18 per cent of all start-ups are now leveraging deep-tech and fintech, enterprise, and retail tech which are the most mature sectors with strong metrics across dimensions.
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"There is increased activity in edtech, retail & retail tech, HR, and healthtech technology start-ups with significant improvement in sectors like agritech, aerospace, defence and space," said the report that published in collaboration with global management and strategy consulting firm Zinnov. It further adds that while Artificial Intelligence and Machine Learning is being deployed heavily in enterprise, fintech and healthtech, deep-tech adoption is actually pervasive across sectors.
The report said that total investment in start-up ecosystem has increased by 16 per cent year-on-year in 2019 - during the January to August period.