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The push and pull factors behind leadership exits in Indian startups

India produced just six new unicorns in 2024, a steep drop from 24 in 2022. Despite total startup funding rising to $11.4 billion in 2024 from $10.9 billion in 2023

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Udisha Srivastav New Delhi
PharmEasy founders Dhaval Shah, Dharmil Sheth, and Hardik Dedhia recently announced their plans to step down from their day-to-day roles at the e-pharmacy giant to launch a new venture in the consumer space. Their exit is part of a larger trend that defined India’s startup ecosystem in 2024 — a wave of high-profile leadership departures across co-founders, chief executive officers, and chief experience officers (CXOs).
 
The reasons behind this shift are multifaceted, driven by entrepreneurial ambitions, greater talent mobility, a growing acceptance of shorter tenures, and mounting regulatory and corporate governance challenges.
 
Some of the prominent leaders who stepped