Proud of India start-ups, applauding them for their performance in 2021

Prime Minister Narendra Modi said on Saturday that he was proud of the country's start-up sector and applauding Indian start-ups for their performance in 2021.

Modi said that Indian talent is constantly learning, learning, and growing, as per a tweet by Nasscom President Debjani Ghosh. Proud of India's start-up sector and best wishes for an even better future. In her tweet, Ghosh had shared a news report that referred to a study by the industry body and said start-ups raised $24 billion in funding in 2021.

India's TechStartups showed up to play big time in 2021. Including cos set up prior to 2011 40 unicorns, 11 IPOs, 198 M&A deals, 6.6 lac direct n 34 lac indirect jobs, Ghosh had tweeted.

She had also tagged Union Minister of Railways, Communications, Electronics and Information Technology Ashwini Vaishnaw, and Union Minister of State for Electronics and Information Technology, Skill Development and Entrepreneurship Rajeev Chandrasekhar in the tweet.

The report by Nasscom said that the start-up ecosystem saw a 2 X gain in cumulative valuation from 2020 to 2021, with an estimate of $320 -- $330 billion.

The start-up ecosystem has played a key role in growing direct and indirect job opportunities by providing 6.6 lakh direct jobs and more than 34.1 lakh indirect jobs, it said.

The year 2021 saw the emergence of 42 unicorns across 18 sectors in India, the third highest after the US and China, with a cumulative valuation of the newly added unicorns at around $90 billion. Many start-ups made their debut on the stock exchanges during the year, including Nykaa and Paytm.