-
India has created 21 SaaS unicorns since 2014, according to the Economic Survey 2024.
-
The demand for scalable and efficient cloud solutions has driven the growth of SaaS startups.
-
The Indian SaaS industry is expected to grow to $26 billion by 2026, despite current slowdown.
The Economic Survey 2024 has highlighted the remarkable growth of India’s Software-as-a-Service (SaaS) industry, with the country creating 21 SaaS unicorns since 2014. This growth is attributed to the increasing demand for scalable and efficient cloud solutions.
The survey emphasizes the strength of India’s tech startup ecosystem, which has enabled SaaS companies to scale and succeed. This growth is expected to continue, with the Indian SaaS industry projected to reach $26 billion by 2026, according to a report by Chiratae and Zinnov.
The government has also initiated projects such as ‘Meghraj’ to accelerate service delivery and support the growth of the SaaS industry. With increasing interest from investors and a growing market, India’s SaaS industry is poised for continued success.
