India will have one lakh startups in the next 7-8 years, employing 3.25 million people and creating USD 500 billion in value, Manipal Global Education Chairman T V Mohandas Pai said today.

He said these startups will help solve India s problems in the future, he said.

"By 2025, I believe that we will have 1,00,000 startups all over the country. They will create USD 500 billion of value and lot of money for investors. They will employ 3.25 million people," Pai told on the sidelines of Rajasthan Digifest here.

Currently, there are 32,000 startups and every year 7,000 companies are coming around.

"Youngsters through the use of technology are solving hardcore challenges and I believe that innovation by young people will transform India," Pai said.

The impact has already been seen in many sectors including education, healthcare, education and e-commerce.

Pai, who is also an angel investor, believes that India has possibly got the third largest ecosystem for startups after the US and China.

The two day Rajasthan Digifest, which started yesterday, is aimed at providing a platform for entrepreneurs and startups to get more traction leading to funding, engagement and increasing the customer base. SP SA