The National Association of Software and Services Companies (Nasscom) has carried out a report, which states that the Indian startup ecosystem has the potential to create up to 12.5 lakh direct jobs by 2025, reported Mint.
The report titled as ‘India’s Tech Startup Ecosystem’ stated that the number of direct jobs by the startup ecosystem in India can jump to 39-44 lakh by 2025 against 14-16 lakh jobs in 2019.
“India’s talent base is expanding beyond large cities as fresh graduates are choosing to stay back in non-metropolitan cities. These individuals have an almost similar exposure to technologies via the Internet. This enables the founders to recruit quality talent at a relatively lesser cost – allowing better runway and also a base for growth,” said the report.
The analysis suggests that the Indian start-up ecosystem has the potential to grow about four times by 2025, it added.
“There is increased activity in edtech, retail & retail tech, HR, and healthtech technology start-ups with significant improvement in sectors like agritech, aerospace, defence and space,” further said the report.
The report concluded by stating that the total number of investments in startup ecosystem has increased by 16 per cent year-on-year in 2019.