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India had over 13,000 startups working in new emerging technologies across sectors like artificial intelligence, internet of things, robotics, and nanotechnology by the end of the fiscal year 2023-24 (FY24), as per the Economic Survey 2023-24. The Survey highlighted that India holds 16% of the world's AI talent, positioning itself as an innovation hub with rapid adoption of AI skills. Inc42 data reveals that India's generative AI ecosystem hosts more than 100 startups that have collectively raised $600 million in funding since 2019.
Ola founder Bhavish Aggarwal-led Krutrim AI recently achieved unicorn status after securing a $50 million investment from investors, including Matrix Partners India. The growth of startups in AI, IoT, robotics, and nanotechnology showcases India's strength in the tech startup ecosystem and its ability to scale. The country's focus on emerging technologies is evident through the significant number of startups and the talent pool it possesses.
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