"Founder is a top Matrimonial profile now," says Ritesh Agarwal, joining Union Commerce Minister Piyush Goyal on 10 years of Startup India

When Prime Minister Narendra Modi launched the Startup India initiative a decade ago, India’s startup ecosystem was still finding its footing. It was fragmented, largely unorganised, and contributed only a sliver to the country’s GDP. Ten years later, the transformation is nothing short of extraordinary.

Piyush Goyal on 10 years of Startup India

According to government data, India had just four privately held companies valued above $1 billion in 2014.

Today, that number has surged past 120 unicorns, collectively valued at over $350 billion. Measured against India’s $4.2 trillion GDP, startup valuations now account for roughly 8.3%, a striking indicator of how deeply entrepreneurship has become embedded in the country’s economic fabric.

This milestone was celebrated at a panel discussion marking Startup India’s 10th anniversary, where Union Minister Piyush Goyal described the journey as a “decade of self-confidence.”

More than policy or capital, Goyal emphasised a cultural revolution among Indian youth from a “fear of failure” to a mindset centred on job creation.

“Young people today are willing to experiment with the unknown,” he said. “There is trust between the government and entrepreneurs.” Asked what he would build if he were starting today, Goyal pointed to tourism and skill development, citing OYO’s success in regions like Kashmir and Kevadia as proof that technology-led entrepreneurship can empower local communities on a large scale.

Moderated by boAt co-founder Aman Gupta, the panel also featured OYO founder Ritesh Agarwal and Minimalist co-founder Mohit Yadav. Gupta highlighted a deeply personal shift: Indian founders now have a “seat at the table” globally.

“Nikhil Kamath went to the US, I went to France,” he said, pointing at how Indian entrepreneurs are increasingly representing the country on the world stage.

Agarwal, recalling his days as a “last bencher” at the first Startup India event in 2016, spoke about the dramatic flip in social perception.

“Earlier, entrepreneurship was seen as the ‘wrong company,’” he joked. “Today, founder is one of the top profiles on matrimonial sites.” 

He also noted a powerful reverse brain drain, with talent from Harvard and Stanford choosing to return to India to build startups rather than join multinational giants abroad.

Mohit Yadav’s journey further illustrates this shift. Building a ₹3,000 crore brand in just four years, he spoke of the “knowledge parity” now visible across India.

“In 2020, investors questioned whether a ₹100 crore brand could be built purely online,” he said. “Today, the question is how long it will take to reach ₹1,000 crore.” Notably, exports now contribute 25% of his business.

Gupta also shared an anecdote from a state visit to France, describing the Prime Minister’s relentless pace.

“I was working from 7 AM to midnight and needed melatonin to sleep. The next day, I woke up late—and the PM was already in the UAE meeting people.”

That same high-octane energy, he argued, now courses through India’s startup ecosystem, where even 13-year-old founders are pitching AI startups and raising capital.

From laying digital foundations to chasing global ambition, Startup India’s first decade has fundamentally reshaped how young Indians view risk, opportunity, and success.

As the ecosystem enters its next phase, focused on deep tech, exports, and sustainable profitability, startups are no longer an experiment. They are fast becoming a permanent pillar of India’s economic future.