India Market

India is the world’s fifth-largest economy and a global powerhouse of industry and innovation. The country’s burgeoning middle class of more than 300M people is comparable to the size of all European Union markets combined. India’s strong entrepreneurial spirit, open business culture, and progressive regulatory systems have seen it emerge as the world’s second-largest startup ecosystem, next to Silicon Valley.

Facts & Figures
About India

$1.5 Trillion

Size of India’s

consumer market

25 Years Old

50% of the population are

below the age of 25

Home to 10 of the world’s

fastest-growing cities (by GDP)

73,000

Startups, 48+ Unicorns,

and 250+ incubators and accelerators in India

Source: WEF (2019), Startup India (2020), Inc42 (2020), Statista (2021), Business Line (2020)

Opportunities
for German Startups

Massive boost in India’s enterprise tech sector, with 8 unicorns, 4 soonicorns, and a 49% surge in funding since 2019. It is a powerhouse for software-as-a-service (SaaS), supplying thousands of B2B solutions for companies worldwide.

Manufacturing is a key sector, and government initiatives to catapult India as a world-class manufacturing hub have increased digital platform adoption for Industry 4.0.

India’s large supply chain, growing E-commerce sales, and rising urbanization present promising opportunities for tech disruption in its logistics sector.

Rapid urbanization, rising traffic congestion, and longer urban commutes are leading India to look for more convenient, affordable, and time-efficient Mobility solutions.

India’s HealthTech market is estimated to reach $21B in 2025 on the back of telemedicine and preventive healthcare growth to help provide holistic care across urban and rural areas.

Industry Focus Areas

Enterprise Tech

HealthTech

Industry 4.0

Mobility & Logistics

Manufacturing

Main Startup Hubs
in India

Bengaluru

Known as India’s ‘Silicon Valley’ and the center of the county’s high-tech industry, Bengaluru is home to over 11,000 startups. It is also a popular hotspot for E-commerce, Enterprise Tech, and FinTech startups.

Delhi

Delhi, India’s capital, continues to be a stronghold for India’s startup scene. Home to 15 unicorns, and 13 ‘soonicorns’, most of Delhi’s funded startups are consumer-facing.

Mumbai

India’s financial capital, Mumbai is the country’s third-largest startup hub. The city has a startup base of more than 9,000 startups, and is a hub for fintech, E-commerce, Enterprise Tech, and consumer services.

Hyderabad

India’s second-largest IT hub, Hyderabad is a bustling hub for FinTech, Enterprise Tech, and HealthTech startups. It is also home to international giants like Microsoft, Google, and Uber.

Programs We Offer in India

Market Discovery Program

The India Market Discovery program will help you get first-hand market insights, explore individual business opportunities within the local ecosystem, and connect with potential customers and partners.

What Others Say

Particularly for German startups, India is a very attractive market due to the reputation of German technology and solutions, the openness for technology and innovation, and good business sense from Indian counterparts.

Manuel Heckmann, COO & Co-Founder of EcoG GmbH

India is one of the markets, which is easily underestimated but definitely worth to take a second look at and explore its opportunities. We benefited from the access to the wide and professional network that the program provided.

Lorenz Schneidmadel, Co-Founder and COO of EDUBAO

Local Partners

India’s strong entrepreneurial spirit, open business culture, and progressive regulatory systems have seen it emerge as the world’s second-largest startup ecosystem. Our new snapshot report provides you with comprehensive insights, top tips, and what you need to know about doing business in India.

Read article >

Opportunities in India: Why German Startups Should Take Advantage of India’s Growing Digital Economy

SEPTEMBER 8, 2020

Written by Juliane Frömmter

India’s technology boom and expanding economy have paved the way for startups to drive the country’s next wave of growth. As startups disrupt all sectors and receive global attention, there are abundant opportunities for German companies to expand into India.

Read article >

Bratwurst Goes Masala Chai – How Next Step Asia Is Opening the Doors to the Indian Market

FEBRUARY 26, 2020

Written by German Accelerator

If you think India is only attractive as a location for an outsourced IT or back office function, think again. Claus Karthe answers 4 questions about Next Step Asia, German Accelerator’s latest launch pad that empowers German startups to enter the fast-growing Indian market.

Read article >

See Blog

India Market

Facts & Figures
About India

$1.5 Trillion

25 Years Old

73,000

Opportunities
for German Startups