India's internet startups on cusp of IPO, combined value at $180 bn: Report

India's internet start-ups leaders that operate business ranging from food delivery, e-commerce to online insurance are now on the cusp of listing, a report said putting their combined value at USD 180 billion by 2025.

"The growing scale and maturity of India's internet economy is starting to create more value and investment opportunities. More than USD 60 billion has been invested in India's internet start-ups in the past five years, with around USD 12 billion in 2020 alone,": HSBC Global Research said in a report of India's internet.

It put the total sector value (ex-Fintech) to reach USD 180 billion by 2025.

"Many of these leaders, which operate businesses ranging from food delivery, e-commerce to online insurance, are now on the cusp of listing," the report said.

India has 42 Unicorns and over 45 soonicorns, HSBC said.

E-commerce is the largest opportunity, worth an estimated USD 67 billion by 2025, it said adding this was worth USD 31 billion 2019 after expanding at an impressive five-year CAGR of 39 per cent.

Amazon and Flipkart control over 80 per cent of the industry today but the contours of the competitive landscape are still evolving.

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