The number of tech startups in India has increased fifteen times over the past decade, reaching a total of 31,000. In 2023 alone, 1,000 new startups were added

 In 2016, there were about 300 startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). By the end of March 2024, this number had grown to over 125,000, with more than 47 percent of these startups having at least one female director. The number of technology startups in India increased dramatically from around 2,000 in 2014 to about 31,000 in 2023, with approximately 1,000 new tech startups launched in the past year alone, according to the Economy Survey 2024.

In 2023, the edtech sector experienced significant growth, with a 16 percent increase in the number of startups. Other sectors also saw notable growth: enterprise tech (12 percent), BFSI (10 percent), advertising and marketing (7 percent), retail tech (6 percent), media and entertainment (5 percent), consumer tech (5 percent), professional services (4 percent), and gaming (4 percent).

The Survey attributes the rise of startups in these sectors to various factors. For example, shifts in consumer behavior and greater internet access have boosted retail startups, while the introduction of UPI has been crucial to the success of BFSI or fintech companies since 2016.