Redseer, a strategy consulting firm, has predicted that the number of profitable unicorns in India will grow from 30 in FY22 to 55 by FY27. The firm’s report, titled “The State of Indian Unicorns,” found that the number of unicorns in India has grown at a compound annual growth rate (CAGR) of 50% over the past five years.
The report attributed the growth of unicorns in India to a number of factors, including the increasing adoption of digital technologies, the growing consumer market, and the supportive government policies.
The report also found that the number of profitable unicorns is growing at a faster rate than the overall number of unicorns. This is because the more mature unicorns are able to generate profits, while the newer unicorns are still focused on growth.
Here are some additional details from the report:
- The technology sector is expected to continue to be the largest source of unicorns in India.
- The consumer sector is expected to see a surge in the number of unicorns in the coming years.
- The government is expected to play a key role in supporting the growth of unicorns in India.
The report concluded that the Indian unicorn ecosystem is well-positioned for growth in the coming years. The ecosystem is expected to benefit from the increasing adoption of digital technologies, the growing consumer market, and the supportive government policies.