SME Times News Bureau | 07 Nov, 2019
A new report from industry body National Association of
Software and Services Companies (Nasscom) said India's start-up ecosystem has
the potential to create up to 12.5 lakh direct jobs by 2025, from 3.9-4.3 lakh
direct jobs in 2019.
The number of indirect jobs created by the start-up ecosystem in India can jump
to 39-44 lakh by 2025 from 14-16 lakh jobs this year, said the report titled
"India's Tech Start-up Ecosystem".
"India's talent base is expanding beyond large cities as fresh graduates
are choosing to stay back in non-metropolitan cities. These individuals have an
almost similar exposure to technologies via the Internet. This enables the
founders to recruit quality talent at a relatively lesser cost - allowing
better runway and also a base for growth," said the report.
The analysis suggests that the Indian start-up ecosystem has the potential to
grow about four times by 2025, it added.
The research found that 18 per cent of all start-ups are now leveraging
deep-tech and fintech, enterprise, and retail tech which are the most mature
sectors with strong metrics across dimensions.
"There is increased activity in edtech, retail & retail tech, HR, and
healthtech technology start-ups with significant improvement in sectors like
agritech, aerospace, defence and space," said the report that Nasscom
brought out in collaboration with global management and strategy consulting
firm Zinnov.
Since 2014, the deep-tech start-up pool in India has grown at 40 per cent
compound annual growth rate. The study found that while Artificial Intelligence
and Machine Learning is being deployed heavily in enterprise, fintech and
healthtech, deep-tech adoption is actually pervasive across sectors.
Total investment in start-up ecosystem has increased by 16 per cent
year-on-year in 2019 - during the January to August period, said the report.