Over 80 Startups Getting Recognised Per Day In India, The Highest Rate In World: Govt
Union Minister for Commerce and Industry Piyush Goyal today (3 August) announced that India has achieved a landmark milestone, wherein 75,000 startups have been recognised in the country.
The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised more than 75,000 startups, a milestone which coincides with 75th year of independence, the Commerce Ministry said in a release on Wednesday (3 August).
Prime Minister Narendra Modi, during the Independence Day speech from the Red Fort on 15 August 2015, had announced a Startup India campaign to tap into the entrepreneurial potential of the country.
On 16 January 2016, a programme was initiated to lay out a Startup India action plan to build a strong ecosystem for nurturing innovation and startups in the country.
In the six years since its launch, the action plan has successfully guided into making India the third largest ecosystem, the Commerce Ministry said.
According to the ministry, while the initial ten thousand startups were recognised in 808 days, the latest ten thousand were achieved in only 156 days.
The ministry informed that over 80 startups are getting recognised every day in the country, which is the highest rate in the world.
Out of the total recognised startups, around 12 per cent cater to IT services, 9 per cent to healthcare and life sciences, 7 per cent to education, 5 per cent to professional and commercial services and 5 per cent to agriculture, the ministry said.
Around 7.46 lakh jobs have been created by the Indian startup ecosystem, so far, which has been a 110 per cent yearly increase over the last six years, it added.
Further, 49 per cent of the startups are from tier II and tier III cities, the ministry informed.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.