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For entrepreneurs and investors, market capitalisation, more than GDP data, is what matters

The exuberance of Indian stock markets is well-timed when it comes to confidence, the all-important ingredient of economic growth. In the last few years, the rapid growth of the Indian startup sector spread optimism among the wider business community. During 2020-22, when the economy was roiled by Covid and consequent lockdowns, the rise in the number of unicorns at a fast clip did much to spread cheer - and some jealousy - in the business community. ....

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