Tracxn Geo Annual Report:India Tech 2023, India Slips to 5th Spot in Global Ranking

Current Context: The ‘Tracxn Geo Annual Report: India Tech 2023’ was released on December 8, 2023. India’s tech startup ecosystem has seen a significant decline in funding, making 2023 the lowest-funded year in the last five years.

• India has slipped to the 5th spot in the global ranking of startup ecosystems, according to the Tracxn Geo Annual Report: India Tech 2023.
• The United States, China, the United Kingdom, and Israel continue to hold the top four spots.
• The report attributes India's decline to a slowdown in funding growth, a decrease in the number of mega-rounds, and a challenging macroeconomic environment.

Question:

Q.1 In 2023, India's global ranking in the startup ecosystem dropped to:
a. 3rd
b. 4th
c. 5th
d. 6th