More than one in five Indian college students (22%) has already started a business, close to the global average of 23%, according to the GUESSS India 2025 National Survey Report released by the Indian Institute of Technology (IIT) Mandi in collaboration with REVA University, Bengaluru.
The The report, titled “How Do We Make Student Entrepreneurs?” found that 43% of Indian students intend to start a business, matching the global average. Among student entrepreneurs, 35.5% of those who have established businesses report regular sales, compared with 33% globally.
The report also highlights a growing interest in entrepreneurship immediately after graduation. The share of students who want to run their own businesses after completing their studies
increased from 14% in 2023 to 16.2% in 2025. In contrast, the proportion seeking government jobs fell from 12.7% to 10.1%, while those preferring employment in large companies declined from 31.3% to 27.4%.
The report, which covered 25,783 students from more than 1,200 higher education institutions across 34 states and union territories, suggest that Indian student entrepreneurs are increasingly turning their business ideas into ventures. Among student businesses generating regular sales, 31% were established in 2025, compared with 18% globally.
It also found that 41% of Indian student entrepreneurs who currently run businesses had previously closed a venture before starting another, against the global average of 33%. Additionally, 42% operate two or more businesses, compared with 25% of student entrepreneurs worldwide.
Information technology, artificial intelligence and digital businesses are the most common areas of interest among student founders. However, only around one in 10 operating student businesses is digital, the survey added.
The survey also highlighted the role of personal networks in encouraging entrepreneurship. Students who have entrepreneurs among their relatives, friends, classmates or teachers are three times more likely to start a venture.
Despite the growing interest in entrepreneurship, the report identifies gaps in students’ access to entrepreneurial networks and early business development. Around half of Indian students do not know any entrepreneur beyond their parents, compared with approximately one-third of students globally. Among those still developing their ventures, only 10% have made their first sale, against 23% worldwide.
The report also points to a gender gap in converting entrepreneurial ambitions into action. Although women express an interest in starting businesses at a rate similar to men, 45% of women who intend to become entrepreneurs have started a venture, compared with 53% of men.
The report calls on universities, incubators and governments to focus on helping students turn entrepreneurial intentions into actual businesses. It recommends tracking how many students who plan to launch ventures ultimately do so, with the current conversion rate standing at 51%.
It also suggests bringing alumni founders, faculty entrepreneurs and student business owners into classrooms and campus communities to provide aspiring entrepreneurs with greater exposure and guidance.
In addition, the report encourages institutions to prioritise practical milestones, such as securing a first customer, making initial sales, registering a business and developing prototypes, rather than focusing solely on business-plan competitions.
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