Launched in January 2016, the Indian government’s ‘Startup India’ initiative remains instrumental in fostering innovation and attracting investments in the nation’s expanding startup landscape. Over time, India has established itself as the third-largest startup ecosystem worldwide, with an impressive annual growth rate of 15% in 2018. The Department for Promotion of Industry and Internal Trade (DPIIT) also reported an 11% rise in the number of incubators and accelerators, reinforcing India’s status as a global hub for startups.
According to a report by Global Data, Indian startups garnered approximately $7.5 billion in venture capital funding between January and August 2024, reflecting the strong confidence investors have in the country’s entrepreneurial environment. S&P Global Market Intelligence predicts that India’s nominal GDP will nearly double, surpassing $7 trillion by FY31, positioning the nation as the world’s third-largest economy by 2030. Global experts regard India as a ‘bright spot’ in the international economic landscape, further affirming its significance.
In addition to these developments, two Indian cities, Bengaluru and Mumbai, have been ranked among the top 50 startup cities worldwide, according to PitchBook, highlighting India’s capabilities in innovation.
In this thriving phase, LinkedIn has unveiled its seventh annual list of the top emerging startups in India for 2024, spotlighting companies that are attracting investor interest and leading their respective industries. This list celebrates rapidly growing firms that are introducing innovative solutions that will shape the future of their sectors.
Among the standout companies, e-grocery startup Zepto leads LinkedIn’s list as India’s top emerging startup for 2024. After becoming India’s first unicorn in 2023 following a period of stagnation, founders Kaivalya Vohra and Aadit Palicha, aged 21 and 22, respectively, have ascended to the ranks of the youngest billionaires in India, with net worths of approximately $433 million and $517 million, respectively, as per the 2024 Hurun Rich List. Zepto’s swift rise has established it as the premier Indian startup for 2024 on LinkedIn.
