75,000 startups recognized in India so far, this is just the beginning: Goel

Commerce and Industry Minister Piyush Goyal on Wednesday said that 75,000 startups have been recognized in India and the startup ecosystem here is thriving with innovation, enthusiasm and entrepreneurial spirit. He added that India is now home to 75,000 startups in its 75th year of independence.

“These numbers speak to the power of a vision. A vision to see innovation and enterprise drive growth. India is now home to 75,000 startups in its 75th year of independence and this is just the beginning,” Goyal said on Wednesday. said in a tweet.

The Department of Promotion of Industry and Internal Trade (DPIIT) has recognized over 75,000 start-ups, a milestone that coincides with the 75th year of Independence. As India celebrates the Amrit Mahotsav of Independence, the Indian startup ecosystem is bursting with innovation, enthusiasm and entrepreneurial spirit, according to an official statement.

About 12 percent of the total recognized startups are IT services, 9 percent healthcare and life sciences, 7 percent education, 5 percent professional and commercial services and 5 percent, the Ministry of Commerce and Industry said. to agriculture.

“An impressive, 7.46 lakh jobs have been created by the Indian startup ecosystem so far, a 110% annual growth over the last six years. The fact that today around 49% of our startups are Tier-II and Tier-III. is a confirmation of the great potential of the youth of our country.

The Startup India programme, which was primarily set up to provide an enabling environment for startups, on Wednesday turned into a launch pad for them. From providing funding for tax incentives, supporting intellectual property rights to facilitating public procurement, enabling regulatory reforms to access to international festivals and events, Startup India programs sustainable economic growth. has become synonymous with

“During his Independence Day speech from the Red Fort on August 15, 2015, Prime Minister Narendra Modi envisioned a new India that harnesses the entrepreneurial potential of its people. On January 16 next year, the date now National Declared as Startup Day, a program was launched to set up an action plan to create a strong ecosystem for nurturing innovation and startups in the country. After six years, the action plan has successfully led India to become the third largest ecosystem,” the statement added.

While the initial 10,000 startups were recognized in 808 days, the latest 10,000 were achieved in just 156 days. With more than 80 startups recognized daily, the highest rate in the world, the future of startup culture is very promising and encouraging.

New-generation enterprises including Vedantu, Unacademy and Cars24 have laid off more than 6,000 employees in India this year. Ola laid off around 2,100 employees between January and March this year, followed by Unacademy (over 600), Cars24 (600) and Vedantu (400). In addition, e-commerce firm Masho has laid off 150 employees, furniture rental startup Furlenko 200, influencer-led social commerce startup Trail 300 and OkCredit 40.

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