India to have 1 lakh start-ups and create USD 500 billion, says Pai

India will have one lakh start-ups in the next 7 to 8 years, employing 3.25 million people and creating USD 500 billion in value, Manipal Global Education chairman T V Mohan Das Pai on Tuesday said.
He said that these start-ups will help solve India’s problems in the future.
“By 2025, I believe that we will have 1,00,000 start-ups all over the country. They will create USD 500 billion of value and lot of money for investors. They will employ 3.25 million people,” Pai said on the sidelines of Rajasthan Digifest in Udaipur.
Currently, there are 32,000 start-ups and every year 7,000 companies are coming around.
“Youngsters through the use of technology are solving hard core challenges and I believe that innovation by young people will transform India,” Pai said.
The impact has already been seen in many sectors including education, healthcare, education and e-commerce.
Pai, who is also an angel investor, believes that India has possibly got the third largest ecosystem for start-ups after the US and China.
The two-day Rajasthan Digifest, which started on Monday, is aimed at providing a platform for entrepreneurs and start-ups to get more traction leading to funding, engagement and increasing the customer base.