India's Department for Promotion of Industry and Internal Trade (DPIIT) recognised 55,200 startups in FY26, the highest single-year count since the Startup India initiative launched in 2016, bringing the cumulative total to 2.23 lakh as of March 31, 2026. The annual recognition count rose 51.6% from 36,400 in FY25, and the cohort collectively added 4.99 lakh direct jobs in FY26 alone, pushing total direct employment across DPIIT-recognised startups past 23.36 lakh. Maharashtra leads geographically with 38,660 recognised startups, followed by Karnataka at 22,600 and Uttar Pradesh at 21,960. Nearly 48% of recognised startups have at least one woman director or partner. Funding infrastructure is also scaling. The original Fund of Funds for Startups has disbursed over ₹7,000 crore to 135 AIFs, which have deployed ₹26,900 crore into more than 1,420 startups. DPIIT's newly notified FoF 2.0, a ₹10,000 crore vehicle effective April 13, expands eligibility to deeptech, micro VCs, and tech-driven manufacturing, with disbursals tied to the 16th and 17th Finance Commission cycles. Sector composition is shifting upmarket. While ecommerce, fintech, and enterprise tech remain active, deeptech was among the most funded categories in 2025. Indian tech startups raised over $11 billion last year. More than 60 new-age tech companies are now listed, and roughly 50 more are targeting public markets.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
