A startup event in Bengaluru, left, and the Bombay Stock Exchange in Mumbai: Sensex, India’s benchmark index for public equities, is up 25% since the beginning of the year thanks to investor excitement over tech stocks. (Source photos by Ken Kobayashi and Reuters)

Venture capital funds pile into India's startup scene

Country attracts record number of investors as China's appeal dims

SAYAN CHAKRABORTY, Nikkei staff writer

November 22, 2021 06:02 JST

BENGALURU -- Hundreds of venture capital firms from around the world are investing in India for the first time, suggesting a breakout moment for the country's startups but also raising questions about whether the boom will be sustainable.

Some 211 funds made debut investments in India this year, about 64 more than the previous year, according to Tracxn, a startup data tracker.