India becomes third largest startup ecosystem in the world

India has emerged as the third largest startup ecosystem in the world after the US and China and the pace of growth is not showing any signs of slowing down. Over the last year, India has added three unicorns every month taking the total count to 51, ahead of the UK (32) and Germany (18). A privately held startup company valued at over $1 billion is called a unicorn.
The US tops the list with 396 unicorns, while China is at the second spot with 277, showed data from Hurun Research Institute. India’s unicorns are currently worth $168 billion, more than the GDP of Telangana at current prices.