India becomes 2nd Global Investment Hub for Digital Shopping Companies

According to an official analysis released on Monday, India is the world's second-largest venture capital investment hub for digital shopping companies, growing 175% from $8 billion in 2020 to $22 billion in 2021.

India came on second to the USA last year on a global scale. USA attracted $51 billion in investment, followed by China at third with $14 billion and the UK at fourth with $7 billion. The analysis also shows that Bengaluru ranked number 5 among cities that have the potential for future unicorns. 

Today's data show that the UK and India are the world's leading hubs for digital shopping companies with high levels of global investment and unicorns,  the Mayor of London's International Trade and Investment Agency, Hemin Bharucha said.

“The tremendous growth of e-commerce has pushed many consumers into communities where they can find their tribes. Combining London's creative talent with e-commerce and embedded fintech can create new opportunities for  London start-ups." Julia Hawkins, partner at venture capital firm LocalGlobe said.

Overall, global venture capital investment in digital shopping more than doubled in 2021 after consumers made a significant switch to e-commerce platforms during the pandemic. Global VC investment in 2021 reached a record $140 billion from $68 billion in 2020.