Objective: This paper examines the impact of Venture Capital Investments (VCI) on Innovation and Economic Growth in India. Venture Capital has emerged as a critical source of funding for startups, enabling them to develop innovative ideas, scale their operations, and contribute to economic growth. India, with its vibrant entrepreneurial ecosystem, has witnessed a significant increase in venture capital investments over the past decade. Research Design and Methods used: This paper gathers key information from the market, varying from various reports and relevant data published by private players like E&Y, Bain & Company, Hurun, Venture Intelligence, Indian Venture Capital Association (IVCA); besides, governmental reports of SIDBI, SEBI, Economic Surveys, MSME Annual Reports and ‘Intellectual Property India’ report published by the Controller General of Patents, Design, Trademarks and Geographical Indications, Ministry of Commerce, Government of India. This is qualitative research. For the purpose of this research, the data pertains to last ten years. Using Python language, data analysis has been done by finding Correlation and Regression Analysis. The model has been run on Jupyter Notebook for Python. Findings: There is, visible upsurge in the VC investments in the last few years, much credited to the pro-active approach of the Government in creating the right ambience and the infrastructure. The flagship programs of the Government, like, Startup Mission and Make in India have yielded positive results. Pandemic did its own damage, but, post Covid-19 pandemic, there has been a considerable upward shift in the VC investments as they venture into new terrains, seeding new technologies and nurturing Startups. AS a result of this, there has been a significant jump in the number of Unicorns. There has been a quantum jump in number of VCs that have invested in India and also the deal size is consistently on the rise. Implications and Recommendations: By studying the existing research and data available, it is observed that there is asymmetry between the literature and the industry. The venture capital industry is inward cautious and there is dearth of exact deal data because of the secrecy and privacy issue, coupled with demographic and geographical shortcoming to collect the data. The role played by IVCA and other private players is, undoubtedly, worth a praise. It is recommended that further research should alienate with industry and be more methodical. Contribution and Value Added: This study will benefit, immensely, to both researchers, intending to do further research in this area, and, also to the industry in building a nexus with academia. This research has taken one step forward in building the bridge between the two. This paper fills the gap by identifying the relationship between key variables and apply statistical tools like Correlation and Regression analysis to assess the trends and contribution of venture capital investments in terms of key variables innovation and economic growth. The outcomes of this study will offer a comprehensive understanding of the fundamental elements of venture capital investments (VCI) and their influence on both innovation and the growth of the Indian economy.