NEW DELHI — As many as 120 Indian startups could list on public markets by 2030 as the country’s startup ecosystem enters a period of more cautious but sustained growth, according to a new report from professional services firm Aon.
The report said 70 to 120 startups are expected to go public by 2030, supported by an active initial public offering pipeline. As of January 2026, 23 startups were at various stages of IPO preparation, while about 25 had already filed draft prospectuses with regulators.
Aon said startups are expected to give employees an average salary increase of 9.7% in 2026, down from earlier peaks but still competitive as companies work to attract and retain key talent.
The report also found that employee expectations are changing quickly, especially among younger workers. Benefits are becoming an increasingly important factor in hiring and retention, with employees placing greater value on flexibility and personalization.
About 76% of employees said they would be willing to trade existing benefits for more tailored offerings, according to the report. More than half also said they expect employers to provide support for financial, emotional and long-term security needs.
The report said Indian startups have remained resilient despite global funding challenges. Investment is flowing into sectors such as clean technology, green energy, generative AI, health technology and financial technology, reflecting interest in sustainability and AI-driven efficiency.
Globally, the technology sector continues to face slower momentum, with exits and funding still below pre-pandemic levels despite easing inflation. Global economic growth also remains weak, the report said.
Indian startups, however, continue to attract a large share of investment, and founders remain optimistic that funding conditions will improve through 2026.
Hiring trends remain mixed. Many startups are holding headcount steady or making selective adjustments rather than pursuing aggressive expansion. Still, a majority of startups expect revenue growth in 2026, according to the report.
The report said startups are prioritizing financial discipline while continuing to invest in high-impact roles and capabilities. (Source: IANS)
