Unicorn start-ups are reshaping economy: Puri

Team Blitz India

NEW DELHI: India’s dynamic entrepreneurial landscape and start-up ecosystem have given rise to numerous unicorn start-ups, which are reshaping the market, felt Petroleum and Natural Gas Minister Hardeep Singh Puri. He made these remarks during his address at EN Rich 2023, the 14th edition of KPMG’s Innovation and Energy Conclave.

With over 100 unicorns boasting a combined valuation of approximately $347 billion, India now ranks third globally in terms of unicorn count. Puri attributed this success to the Start-up India initiative launched by Prime Minister Narendra Modi. He added that the Ministry of Petroleum & Natural Gas also helped to nurture an innovative ecosystem and support start-ups in various domains, including IoT in upstream, midstream, and downstream operations, digitalisation of business processes, green fuels, and alternative energy.