What explains India's unicorn boom in 2021?

About a week ago, an Indian startup founder quipped on Twitter that the definition of a ‘Unicorn’ as used in the venture capital industry should now change to $1 billion of funding raised. The term currently refers to a startup that reaches a valuation of $1 billion. He was commenting on the flurry of unicorns that have been created globally. The term was originally coined by US venture capitalist Aileen Lee in 2013 when there were just 39 startups globally that fit the definition, which has not changed since then.
Achieving the milestone was once considered elusive. But India’s example shows the term unicorn no longer holds the same weight as before. In a blockbuster year for startup funding, India saw the creation of 42 unicorns, a three times jump from 11 new unicorns in 2020 and nine in the previous year.