Startup India: The story has hit a new milestone. The 2025 Forbes Asia 100 to Watch list has named 18 Indian startups, the highest number from any country in the Asia-Pacific region. This shows how far India’s startup ecosystem (Viksit Bharat) has come—from small beginnings to a global force driving innovation and change.
This isn’t just about numbers. It’s about the determination and creativity of Indian founders who built great companies in a tough environment. While the world often looks to Silicon Valley or China for innovation, India’s rise is different—and deeply inspiring.
Building Both the Product and the Path: India’s Tough but Rewarding Journey
The modern India’s startup ecosystem (Viksit Bharat) is only around twenty years old. Unlike the US, where startups could use strong delivery networks, financial systems, and internet connections, Indian founders often had to build everything themselves.
“Amazon could rely on FedEx. Flipkart had to build that infrastructure from scratch. It’s 10 times harder here because we’re building both the product and the system around it,” says Kunal Khattar, founder of AdvantEdge VC.
That challenge shaped Indian entrepreneurs into practical problem-solvers. Take Rapido and PhonePe, for example.
Rapido, founded in 2015, solved a simple but big problem—affordable travel in smaller towns. Co-founder Pavan Guntupalli says it wasn’t just about rides; it was about “helping bike owners earn a living” and creating jobs across the country.
PhonePe, also launched in 2015, took on a huge task: making digital payments easy for everyone. Their work changed how Indians use money and sparked the country’s fintech revolution.
These examples show how far India has come. Today, India has over 140,000 registered startups and 115 unicorns (companies worth over $1 billion). In just the first half of 2025, Indian startups raised $5.7 billion through 470 funding deals, ranking the country third in global startup funding.
The New Wave of Innovation: From Deep Tech to Rural Commerce
The 18 Indian startups on the Forbes Asia 100 to Watch 2025 list are solving real problems and building ideas that can grow worldwide. Their work covers almost every major industry, from deep tech to clean tech, health, and rural commerce.
Let’s look at some of the standout sectors:
Healthcare and AI: Startups like Cloudphysician and Tricog Health are using artificial intelligence to improve healthcare, especially in small towns and villages.
Space Technology: GalaxEye is preparing to launch its own satellite under the Drishti Mission, showing India’s growing strength in space innovation.
Clean Energy: Startups such as SolarSquare and Vecmocon Technologies are leading India’s cleantech push. They’re building rooftop solar systems and electric vehicle intelligence tools that make clean energy more practical.
But innovation in India isn’t just about high tech. It’s also about understanding local needs and building businesses that include everyone.
Consumer brands like Foxtale, WickedGüd, and Sweet Karam Coffee are creating fresh, digital-first brands that reflect what Indian consumers really want. On the other hand, startups like Rozana and Lokal are improving rural commerce by connecting small-town consumers and local sellers to the wider market.
These 18 startups reflect India’s diversity and creativity. Many are already expanding into countries like Southeast Asia and Africa, showing how Indian ideas are finding global audiences.
And behind all of this is Startup India, the government’s initiative that continues to support new entrepreneurs and make it easier to start and grow a business.
The Road Ahead: From Valuations to Real Value
India’s strong showing in the Forbes Asia 100 to Watch list is great news, but there’s still more to be done. India’s startup ecosystem now needs to focus on building sustainable companies that last—not just on reaching big valuations quickly.
Right now, many investors still prefer funding consumer apps and services. But for India to become a true global tech leader, there has to be more long-term investment in deep tech, R&D (research and development), and innovation that takes time to grow.
Mohandas Pai, chairman of Aarin Capital, explains it well: “Deeptech companies take eight to twelve years to build. They need long-term money, but that money is not easily available. We have to invest now to make sure we lead the AI revolution.”
To achieve this, India needs better funding systems—especially for startups that move beyond early-stage funding. Domestic investors, pension funds, and government-backed institutions can play a big role in filling this gap.
Collaboration will also be key. While Startup India has created an excellent base, the next step is to build stronger connections between universities, industries, and international research centers. This kind of teamwork can help Indian startups gain access to advanced research, skilled talent, and new global markets.
The shift from chasing quick profits to creating long-term impact is already beginning. If India continues down this path, it could soon be home to the next generation of world-leading tech giants.
Conclusion: Startup India Revolution Is Just Getting Started
The rise of the startup India ecosystem is one of the most inspiring stories in business today. Leading the Forbes Asia 100 to Watch 2025 list with 18 remarkable startups proves that India has moved from being an emerging startup hub to a true innovation leader.
From deep tech breakthroughs in health and space to cleantech solutions for a greener planet and inclusive rural commerce models, Indian startups are showing what creativity, determination, and resilience can achieve.
But the journey doesn’t end here. The next step is about building for the long term—investing in research, supporting bold ideas, and encouraging patient capital. Initiatives like Startup India are already paving the way, but deeper partnerships between business, government, and academia will be the key to India’s next leap forward.
In short, India’s success on the Forbes Asia 100 to Watch list isn’t just a moment of pride—it’s the beginning of a new era. A time when startup India don’t just follow global trends but create them.
This revolution, built on hard work and Deeptech innovation, shows that the future of entrepreneurship belongs to India—strong, smart, and ready to lead the world.