India's technology startup scene is gaining global prominence

Management consulting firm Praxis Global Alliance and IVCA have conducted a market analysis of India’s startup ecosystem, finding that the innovative players are drawing tens of billions in investments from around the world.

Between 2016 and 2020, more than $60 billion has flown into well over 50,000 Indian tech startups, making India the third largest tech startup hub in the world. Investments are only expanding with time, with 2019 alone accounting for $34 billion in funds flowing in. This year, around $17 billion had already come in between January and May – exceeding investment volumes for all of 2016.