India’s growth story started about four decades back but picked up momentum from the late 1990s. This period coincided with the IT boom.

The incubation cells at the various IITs and other institutions have played a major role in evolving the ecosystem for start-ups. Over the years quite a few of these start-ups have become unicorns.

The Indian economy had been showing signs of slowdown over the past couple of years.

The National Statistical Organisation (NSO) recently published India’s GDP data for April – June quarter of FY 2020-21.