The Indian startup ecosystem is the world’s third-largest one with more than 75,000 startups that include about 100 unicorns. Across the world, the covid-19 pandemic had adversely affected the startup ecosystem. Now, the ecosystem is going to be impacted by the rising interest rate scenario. At this juncture, India has proposed a new group at the G-20 level to support startups in addressing various issues such as the lack of finance faced by the ecosystem. India would assume the presidency of the G-20 grouping in December.
The G-20 grouping should work towards creating and adopting guiding principles for open source and for promoting inclusive digitisation across the world, opined Anurag Jain, secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), at the B20 Indonesia Global Dialogue organised by the CII. He also highlighted India’s success in creating platforms such as the UPI, Aadhaar, and CoWIN using technology.
