<p>The Indian economy has witnessed the creation of 28 unicorns, or startups valued at over $1 billion, this year on the back of a series of reforms unleashed by the government, Finance Minister Nirmala Sitharaman said on Wednesday.</p>.<p>Addressing a virtual conference organised by the Indian Private Equity and Venture Capital Association (IVCA), the minister said the Indian economy has witnessed a spur of unprecedented growth in the form of startups in the last two decades.</p>.<p>The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised more than 56,630 startups across districts throughout India, IVCA said in a statement quoting the finance minister.</p>.<p>"Indian startups have so far created 65 unicorns out of which 28 have been created in 2021. This shows that there is increased activity in this space and a lot of capital from angel investors. A series of reforms have been unleashed. Different capacities of Alternative Investment Fund (AIF) have been given more flexibility," she said.</p>.<p>Investment guidelines have been issued for provident funds and superannuation funds, the minister said, adding the window for reporting of over-the-counter transactions has also been extended by three hours.</p>.<p>Investor protection must be given due consideration because that is a very important part of a confidence booster for investors, she added.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>The Indian economy has witnessed the creation of 28 unicorns, or startups valued at over $1 billion, this year on the back of a series of reforms unleashed by the government, Finance Minister Nirmala Sitharaman said on Wednesday.</p>.<p>Addressing a virtual conference organised by the Indian Private Equity and Venture Capital Association (IVCA), the minister said the Indian economy has witnessed a spur of unprecedented growth in the form of startups in the last two decades.</p>.<p>The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised more than 56,630 startups across districts throughout India, IVCA said in a statement quoting the finance minister.</p>.<p>"Indian startups have so far created 65 unicorns out of which 28 have been created in 2021. This shows that there is increased activity in this space and a lot of capital from angel investors. A series of reforms have been unleashed. Different capacities of Alternative Investment Fund (AIF) have been given more flexibility," she said.</p>.<p>Investment guidelines have been issued for provident funds and superannuation funds, the minister said, adding the window for reporting of over-the-counter transactions has also been extended by three hours.</p>.<p>Investor protection must be given due consideration because that is a very important part of a confidence booster for investors, she added.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>