U.K., March 26 -- India has hit the big 100 in business, boasting 100 unicorns, private companies that are valued at more than US$1 billion, according to Swiss brokerage firm Credit Suisse India.
Unicorns are generally defined as technology startups which have attained the billion dollar valuation while still being privately held- generally within 10-12 years.
According to the report, titled '100 Unicorns: India's changing corporate landscape', "these are only at the top of a fast-growing pyramid of 80,000 startups in India, which are incrementally now nearly 10% of new companies formed every year; the number of firms is up 70% in 8 years."
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