India News | Delhi Has Replaced Bengaluru as Startup Capital: Economic Survey

New Delhi, Jan 31 (PTI) Delhi has replaced Bengaluru as the startup capital of India as the national capital added over 5,000 startups between April 2019 and December 2021, according to the Economic Survey 2021-22.

The survey, which was tabled in Parliament Monday, said 4,514 startups were added in Bengaluru during the period.

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With a total of 11,308 startups, Maharashtra has the highest number of recognised startups in the country.

Delhi Chief Minister Arvind Kejriwal took to Twitter to congratulate the national capital. "Congrats Delhi for yet another achievement. Delhi with 5,000 start-ups replaces Bengaluru as start-up capital.”

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India had a record number of start-ups (44) reach the unicorn status in 2021. It overtook the UK to emerge as the third highest country in number of unicorns after the US and China which added 487 and 301 unicorns respectively in 2021.

As of January 14, 2022, India has 83 unicorns with a total valuation of USD 277.77 billion.

“Most of India's startups are in the IT or knowledge-based sector. Intellectual property, specifically patents are key to this knowledge-based economy. There has been gradual increase in the filing and granting of patents in India," the survey noted.

"The number of patents filed in India has gone up from 39,400 in 2010-11 to 45,444 in 2016-17 to 58,502 in 2020-21 and the patents granted in India has gone up from 7,509 to 9,847 to 28,391 during the same time period," it added.

The survey stated that number of patents application are increasingly coming from Indian residents rather than MNCs. The share of Indian residents in total applications has increased from 20 per cent in 2010-11 to around 30 per cent in 2016-17 and 40 per cent in 2020-21.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)