The number of startup unicorns in India may surpass 50 by 2022, a senior official said on Friday.
The country is home to 21 unicorns at present, collectively valued at USD 73.2 billion, as per the Hurun Global Unicorn List 2020.
The US and China have 233 and 217 unicorns, respectively.
A unicorn is a privately-held startup valued at over USD 1 billion.
"In 2012, we had one unicorn... and by 2022, India will have about 52 unicorns," Software Technology Parks of India (STPI) Director-General, Omkar Rai, said at the ABP Group's 'Infocom 2020'.
Rai said by 2025, Indian software products revenue will be USD 70-80 billion against the existing USD 10 billion.
India has talent and cost arbitrage to succeed in the global software products market, which is about USD 520 billion, and is expected to become a trillion dollar market by 2025, officials said.
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