This is the first edition of Inc42 Markets, a special Sunday newsletter that spotlights exclusive insights, deep analysis, and expert commentary on India’s startups and new-age tech stocks—tracking startups from pre-IPO trends to post-listing performance as they reshape public markets.

Why now? Read the first edition, and it should be amply clear

It’s the day after the Union Budget, but our eyes are firmly on the future. And the future for Indian startups is public — just this week, we reported on the IPO roadmap of Servify, Pine Labs, WeWork, Droom, OfBusiness, Lenskart and Curefoods!

From 2015 to 2025 — the transformation in the Indian startup and tech ecosystem is nothing short of extraordinary. In fact, India’s status as a global startup powerhouse is only growing. Home to over 70,000 startups, 119 unicorns and $158 Bn in funding in the past decade — and now the stage is set for a massive public markets run.

Already more than 30 startups have joined the new-age tech stocks cohort in the past three years, and this number is expected to double in the next 11 months as dozens of startups are lining up for IPOs. It’s this bull run on the bourses that has created the bull case for Indian tech today.

It’s not just us saying this.

As investment giant UBS put it in its January 2025 report: “The story goes beyond the immediate hype though, gathering strength from long-term themes such as global supply chain reconfiguration and a rising Indian middle class. Progressive structural reforms in many areas, such as improving export competitiveness, attracting foreign investments and creating a business-friendly environment through tax benefits, subsidies and other incentives, also provide the right setup for growth to continue in the long run.”

Among other advantages, India has technology adoption on its side. India’s big focus on STEM education at the primary level, and early adoption of technology such as 5G, AI and digital public infrastructure have only served to make this the hottest destination for foreign investors.

In fact, UBS goes a step further and says this about the Indian opportunity: “The investible universe has been broadening over the years, and the current balanced mix of companies big and small and from different sectors presents the right conditions for sustained alpha delivery. Although diverse, the market is still........

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