India outpacing China in producing unicorns

So far in 2021, India produced 33 unicorns which is the most unicorns produced in the country till now. India far exceeded China in number of unicorns produced, with China so far having 19 additions to unicorns list in 2021. As per Traxcn data, India first beat China’s number of unicorns in 2020, producing 17 unicorns where as China’s number stood at 16.

India producing more unicorns than China

Sectors including fintech and financial services; enterprise applications and enterprise infrastructure; and consumer segments saw high number of unicorns during 2021 so far in India with addition of 9, 7 and 6 unicorns in the respective segments. In China, enterprise applications and infrastructure; fintech, food and agriculture tech; and consumer segments saw increase of 3 unicorns each.

China, as put by Financial Times, is “putting a new emphasis on a longstanding political slogan — known as common prosperity”, creating concerns for investors. These can create silver lining for India, with India becoming more welcoming for the foreign investments, innovation in technology and growth in startup ecosystem.