More than one in five Indian college students has already started a business, while 43% want to become entrepreneurs, according to the GUESSS India 2025 National Survey Report led by the Indian Institute of Technology (IIT) Mandi.
The survey covered 25,783 students from more than 1,200 higher education institutions across 34 states and Union Territories. Conducted between September and December 2025 in partnership with REVA University, Bengaluru, the study found that 22% of Indian students had started a business, close to the global figure of 23%.
The share of students who want to start a business immediately after graduation increased from 14% in 2023 to 16.2% in 2025. Over the same period, the proportion preferring government jobs fell from 12.7% to 10.1%, while those opting for jobs in large companies declined from 31.3% to 27.4%.
Student businesses report regular sales
Of the student businesses surveyed, 35.5% reported regular sales, compared with 33% globally. The report also found that 31% of Indian student businesses with regular sales were founded in 2025, against 18% globally.
Repeat entrepreneurship was another finding. Around 41% of Indian student founders with businesses generating regular sales had closed an earlier venture and started another, while 42% ran two or more businesses. The corresponding global figures were 33% and 25%, respectively.
“India's students are as ambitious as any in the world, and those who start are building real businesses that already hire people,” said Dr Puran Singh, associate professor at IIT Mandi's School of Management and country delegate for GUESSS India, who led the report.
He said the next step was to help more students move from entrepreneurial interest to starting ventures, with greater access to founders and practical support.
Founder networks remain limited
The report identified access to entrepreneurial networks as a major gap. Half of Indian students said they did not know an entrepreneur outside their parents, compared with around one-third of students globally.
Students who knew founders through relatives, friends, classmates or teachers were three times more likely to start a business, the survey found.
Early customer access was another challenge. Among students still developing their ventures, 10% had made their first sale, compared with 23% globally. The report recommends that universities and incubators focus more on helping students secure their first customers, alongside business registration and prototype development.
Gender gap in turning plans into businesses
Women expressed interest in entrepreneurship at rates similar to men, but were less likely to have started a venture. Among students who wanted to become entrepreneurs, 45% of women had started a business, compared with 53% of men.
Information technology, artificial intelligence and digital services were among the most common areas students planned to pursue. However, only about one in 10 operating student businesses was digital, indicating a gap between intended business sectors and existing ventures.
The report, How do we make student entrepreneurs?, recommends that universities track how many students who express an interest in entrepreneurship go on to establish businesses. It also calls for more opportunities for students to interact with alumni founders, faculty entrepreneurs and peers running businesses.
“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,” said Dr P Shyama Raju, chancellor of REVA University, the national partner for GUESSS India 2025.
