Indian Unicorns: Engine of Growth?

• A new study by industry body CII and McKinsey & Company predicts a bright future for Indian startups.
• The report, titled "Unicorn 2.0: Adding the Next Trillion," suggests these "unicorns" (startups valued over $1 billion) could contribute significantly to the Indian economy by 2030.
• The study estimates a potential $1 trillion boost to the GDP, propelling India's economy to a size of $7 trillion.
• Job creation is another promising aspect. The report forecasts 50 million new jobs, with sectors like retail, e-commerce, and finance leading the surge.
• This growth is attributed to increased digitization and innovation across industries.