Business news : Unicorn companies will add one trillion dollars to GDP by 2030

New unicorn companies will add one trillion dollars to Indian GDP by 2030. Besides, it will also provide five crore new employment opportunities. The Confederation of Indian Industry (CII) said in a report released on Thursday that the economy is projected to reach $7 trillion by 2029-30 and the contribution of unicorn companies in it will be $1 trillion.

According to the report, sectors such as retail, e-commerce, next generation financial services, manufacturing and software services and digital are set to drive massive growth in the coming years. CII President R Dinesh said, the startup ecosystem is a vibrant picture woven from the threads of innovation, aggressive potential and transformative ideas. This report has been prepared in collaboration with McKinsey & Company.

100 unicorns a remarkable achievement
For the first time in the country, a technology-based company got the status of Unicorn in 2011. In just a decade, India has crossed the figure of 100 unicorns. The combined valuation of 113 unicorn companies as of January 2024 is $350 billion. The emergence of more than 100 unicorns is a remarkable achievement, CII said.