Ministry for Commerce & Industry: India recognising over 75000 startups so far

Union Minister for Commerce & Industry, Piyush Goyal has announced that India has achieved a landmark milestone, wherein 75000 startups have been recognized in the country. The Department for Promotion of Industry and Internal Trade (DPIIT) has recognized more than 75,000 startups- a milestone which coincides with the 75th year of independence.

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About the Startup India program:

• Startup India program which was primarily set up to provide an enabling environment for the startups has today evolved into the launchpad for them.
• From providing funding to tax incentives, from support on intellectual property rights to eased public procurement, from enabling regulatory reforms to access to international fests and events, the Startup India program has become synonymous with sustainable economic growth.
• Out of the total recognized startups, around 12% cater to IT services, 9% to Healthcare and Life Sciences, 7% to education, 5% to professional and commercial services and 5% to agriculture.
• An impressive, 7.46 lakh jobs have been created by the Indian startup ecosystem, so far, which has been a 110% yearly increase over the last 6 years.
• The fact that about 49% of our startups are from Tier II & Tier III today is a validation of the tremendous potential of our country’s youth.

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