India, Dec. 5 -- It is official. A harsh funding winter has descended on the startup ecosystem worldwide and may continue way past 2022. The year has been marred by a funding squeeze that has triggered massive cost-cutting and thousands of layoffs. As concerns about a looming global recession further dampen India's business outlook, one is forced to ask whether the great Indian startup dream is finally over.

But it may not be all gloom and doom, given the industry overview.

The latest Employment Outlook Report by TeamLease says about 73% of Indian startups are optimistic about the third quarter of FY23 (October-December 2022) and are eager to ramp up their resource pool. At 65%, India's hiring intent for this period is expected to grow ...