The number of startup unicorns in India may surpass 50 by 2022, a senior official said on Friday.
The country is home to 21 unicorns at present, collectively valued at $73.2 billion, as per the Hurun Global Unicorn List 2020.
The US and China have 233 and 217 unicorns, respectively.
A unicorn is a privately-held startup valued at over $1 billion.
"In 2012, we had one unicorn... and by 2022, India will have about 52 unicorns," Software Technology Parks of India (STPI) Director-General, Omkar Rai, said at the ABP Group's 'Infocom 2020'.
Rai said by 2025, Indian software products revenue will be $70-80 billion against the existing $10 billion.
India has talent and cost arbitrage to succeed in the global software products market, which is about $520 billion, and is expected to become a trillion-dollar market by 2025, officials said.
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