NEW DELHI: India’s largest startup event began in New Delhi on Thursday, bringing together thousands of entrepreneurs, investors, and industry leaders from across the country and abroad.
Dubbed Startup Mahakumbh, the expo is organized by the Federation of Indian Chambers of Commerce and Industry, the Associated Chambers of Commerce and Industry of India, and the Indian government’s Department for Promotion of Industry and Internal Trade.
Around 3,000 startups are participating in the three-day event at Bharat Mandapam — the venue of the 2023 G20 summit — where they are presenting their innovations across sectors including artificial intelligence, cybersecurity, health, biotechnology, energy, gaming, finance, mobility, defense, agri tech and space tech.
Jitin Prasada, the minister of state for commerce, industry, electronics and IT, opened the expo, saying that India had strong policies in place to support the development of the startup ecosystem.
“India is ready for the challenge. We have the talent, we have the skills. We have an agile government,” he told the participants.
“We’re going to showcase to the world what India is about. Together with the government, the stakeholders, and you above all in front of me, together we will collaborate, work for a better, stronger, creative, and more vibrant India.”
The number of companies participating in Startup Mahakumbh has doubled from its inaugural edition last year. It will also feature exhibitors and delegates from 50 countries, compared with about a dozen in 2024.
Sanjiv Singh, joint secretary at the DPIIT, told reporters: “At one end we will have a flying taxi made in India on display; at the other we have countries like Korea setting up a pavilion of 11 startups, and Nepal putting up the largest pavilion with one of its startups showcasing a two-stage rocket powered by sustainable hybrid propulsion rocket engines.
“The event will be a great opportunity to connect and collaborate.”
India has about 160,000 registered startups, according to DPIIT data. Among these, more than 100 have achieved unicorn status, which means they are valued at $1 billion or more.
With the rapid growth in the sector over the past few years — from 500 DPIIT-recognized startups in 2016 and fewer than 10 unicorns — India has emerged as the world’s third-largest startup ecosystem, after the US and China.
Rajesh Nambiar, president of the National Association of Software and Service Companies, said: “We also witnessed tech startup IPOs triple in 2024 compared to 2023, so that’s a lot of momentum. It’s not just about the rising momentum. It is compounding year on year, which gives us the confidence that this is going to be something which will be a huge differentiator for us as a nation.
“Last year we added the second highest number of unicorns globally, which is a huge testimony for India as a country. Also in 2024, the tech sector contributed a staggering $283 billion in terms of the broader contribution, and this accounts roughly for about 7.3 percent of GDP.”
The development of tech-based startups, Nambiar told the Startup Mahakumbh audience, will drive India’s technological sovereignty.
“For India to be truly emerging as a developed nation, we must achieve this tech sovereignty; a future where we are not just users of technology, but we are actually creators and builders of technology or transformative technology as we move forward,” he said.
“This also means that we are leading in patents, not just platforms; we would be shaping standards, not just following them. We are going to be owning IP (intellectual property) that drives global progress, and the deep tech ecosystem will be the fulcrum of this transformation.”
