India 3rd largest startup ecosystem; home to 21 unicorns: Ambassador to US Sandhu said according to a recent report, Indian startups raised $9.3 billion until mid-December this year PTI | January 6, 2021 | Updated 12:40 IST Rise of Indian IT companies, large talent pool, increased expendable income of Indian middle class and availability of capital have contributed to the growth of India's startup ecosystem India is currently the third-largest startup ecosystem in the world and is home to 21 unicorns valued at $73.2 billion, India's top envoy in the US has said, as he expressed hope that more than 50 startups might join the unicorn club as early as 2022. Entrepreneurial activity has picked up in India. In 2020 India was among the top 50 innovative economies," India's Ambassador to the US Taranjit Singh Sandhu said.