New Delhi, Jan. 15 -- Industry leaders observe that India's startup ecosystem has undergone a significant transformation, evolving from a nascent stage to becoming the third largest in the world. This growth is characterized by a massive increase in the number of unicorns and a shift in the national mindset regarding entrepreneurship. Representatives from various sectors attribute this evolution to strategic government initiatives and a vision that encourages the youth to transition from job seekers to job creators.

Abhiraj Singh Bhal, Co-Founder and CEO of Urban Company, states that the ecosystem was very nascent eight years ago, with only one or two unicorns and a handful of startups. He notes that the landscape has changed tremendousl...