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Startups change corporate landscape
Startups change corporate landscape
Growth for the Indian startup ecosystem has accelerated as well, making India home to the third-largest set of unicorns globally, behind the US and China, and commanding a total valuation of $90 billion
New Delhi: India's fast-growing community of unicorns - privately-owned companies - valued over $1 billion, are now driving radical change in the country's corporate landscape moving at an unprecedented pace creating in excess of $240 billion in value, Credit Suisse said on Tuesday.
A special Credit Suisse report on India unicorns delves into India's 100-strong unicorn market and what India's startup boom means for the economy and the corporate landscape.
According to the research report, an unprecedented pace of new-company formation and innovation in a variety of sectors resulted in a surge in the number of highly valued and as-yet-unlisted companies.
Against 336 listed companies with a $ 1 billion market capitalisation, there are now 100 unicorns in India with a combined market capitalisation of $ 240 billion.
"Our research found 100 unicorns in India in a diverse set of industries, including technology and tech-enabled sectors, such as, pharmaceuticals/biotech and consumer goods, benefiting from formalization and accelerating digital adoption. Fast-growing and innovative (unlisted) firms are sprouting up in new sectors as well as locations across India, rapidly gaining scale as they ride unique growth opportunities from digital public infrastructure and partnerships," said Neelkanth Mishra, Co-Head of Equity Strategy, Asia Pacific and India Equity Strategist at Credit Suisse.
The Credit Suisse research found out that the sectoral split is highly diversified for the 100 Indian unicorns in addition to the largely expected e-commerce, financial technology (FinTech), education technology, food delivery, and mobility companies. Furthermore, there is a rapidly growing number of firms in industries such as Software-as-a-Service (SaaS), gaming, new-age distribution and logistics, modern trade, biotech, and pharmaceuticals. Even fast-growing consumer brands have benefitted from accelerating internet penetration and formalization of sectors.
Along with the rapidly growing economy, the market capitalization of listed equities in India has risen too, making India the eighth-largest market globally. Growth for the Indian start-up ecosystem has accelerated as well, making India home to the third-largest set of unicorns globally, behind the US and China, and commanding a total valuation of $90 billion.
