Up to 120 new Indian startups could be listed by 2030

India’s start‑up ecosystem has entered a phase of “cautious growth” with an active initial public offering pipeline with 70 to 120 start‑ups expected to get listed by 2030, a report said on Friday.

The report from professional services firm Aon said start‑ups are likely to deliver an average salary increase of 9.7 per cent in 2026, reflecting a moderation from earlier peaks but still remaining competitive in attracting critical talent.

In January 2026, 23 start-ups were at various stages of IPO preparation, while approximately 25 had already filed draft prospects with the regulator, the report noted.

The report found that employee expectations are shifting rapidly, particularly across younger generations, with benefits becoming a key differentiator in talent attraction and retention.

There is strong demand for flexibility and personalisation, with 76 percent of employees indicating willingness to trade existing benefits for more tailored offerings.

Wellbeing has emerged as a priority, with more than half of employees expecting employers to actively support financial, emotional, and long-term security needs.

The report said that Indian start-ups are demonstrating resilience despite global funding headwinds.

Capital is flowing toward sectors such as cleantech and green energy, generative AI, and health technology and fintech, reflecting sustainability priorities and the rise of AI-driven efficiency.

Despite easing inflation, global GDP growth remains low and the global technology sector continues to experience slower momentum, with exits and funding below pre-pandemic levels.

However, Indian start-ups continue to attract a disproportionate share of investment, with founders optimistic that the funding environment will improve through 2026.

Despite optimism, hiring trends showed a mixed outlook, with a significant proportion of organizations maintaining headcount or making selective adjustments rather than aggressive expansion.

A majority of start-ups expected positive revenue growth in 2026. Overall, organisations are prioritizing financial discipline while continuing to invest selectively in high-impact roles and capabilities.