IIT Mandi survey finds 22% of Indian college students already running businesses, 43% aim to start

Survey results show a surge in student‑led startups

A fresh report released by the Indian Institute of Technology Mandi shows that 22 % of Indian college students have already started a business, while 43 % say they aspire to become entrepreneurs. The findings come from the GUESSS India 2025 survey, part of the Global University Entrepreneurial Spirit Students’ Survey (GUESSS) that benchmarks student entrepreneurship worldwide.

Scope and methodology

The study gathered responses from 25,783 students enrolled in more than 1,200 higher‑education institutions across 34 states and Union Territories between September and December. Respondents were asked about current ventures, sales performance, future plans and the degree of exposure they have to practising entrepreneurs.

How India stacks up globally

• Started businesses: 22 % in India versus 23 % globally.
• Entrepreneurial ambition: 43 % in India, matching the global sample.
• Regular sales: 35.5 % of Indian student‑run businesses report regular sales, a touch above the 33 % world average.
• New‑found ventures: 31 % of those with regular sales were founded in 2025, compared with 18 % globally.

Dr Puran Singh, associate professor at IIT Mandi’s School of Management and country delegate for GUESSS India, said the numbers indicate “students are as ambitious as any in the world, and those who start are building real businesses that already hire people.”

Shifts in career preference

The share of students who want to run their own business immediately after graduation rose from 14 % in 2023 to 16.2 % in 2025. At the same time, interest in government jobs fell from 12.7 % to 10.1 %, and the desire to join large corporations dropped from 31.3 % to 27.4 %.

Gaps and opportunities

Half of the respondents said they did not know any entrepreneur beyond their parents, a stark contrast to the roughly one‑third figure recorded globally. Only 10 % of those still developing a venture had made a first sale, versus 23 % worldwide. The report flags these gaps as areas where universities and policymakers can intervene.

Women entrepreneurs

Women’s entrepreneurial ambition is almost on par with men’s, yet conversion lags. Among students who wanted to start a business, 45 % of women had already launched one, compared with 53 % of men.

Recommendations for higher‑education institutions

The survey urges universities to move beyond measuring interest alone and to track actual venture creation, first sales, registrations and prototypes. Dr P Shyama Raju, chancellor of REVA University – the national partner for the study – stressed that “a university’s task is no longer only to educate students for jobs; it is to educate them for enterprise, so that they create the jobs.”

Prof Anjan Swain, chair of IIT Mandi’s School of Management, added that the school is re‑orienting its curriculum to embed real‑world venture building, bringing alumni entrepreneurs, faculty founders and student business owners into classrooms and hostels.

Policy backdrop

These trends unfold under the government’s Startup India programme, which provides tax incentives, funding access and incubator support for young founders. The survey’s upbeat numbers are being hailed as evidence that the policy environment is translating into tangible entrepreneurial activity among the nation’s future workforce.

What lies ahead

While the appetite for entrepreneurship is clear, the report highlights the need for stronger exposure to role models and better early‑stage support. If universities act on the recommendations, the proportion of students turning ambition into viable enterprises could rise sharply, further feeding India’s broader economic growth agenda.