India ranks 2nd in world with most emerging Unicorns, leaves China behind

INTERNATIONAL DESK: India’s Commerce and industry minister Piyush Goyal on Saturday took to Twitter to announce that, India is the second in the world among countries with most emerging Unicorns after US.

India is ahead of China in emerging Unicorn race. India has 32 emerging Unicorns against China’s 27.

Goyal further wrote,”Our robust & innovative ecosystem is enabling Indian startups to zoom into the Unicorn club.”

In financial parlance, a startup is considered to have become a unicorn once it achieves a value of over $1 billion.

Last year the country ranked third in the world in terms of the total number of unicorns.