Union Minister for Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textile Piyush Goyal said today that India is now home to 75,000 start-ups. He added that 7.46 lakh jobs have been created in the Indian start-up ecosystem.
“These numbers tell the power of a vision. A vision to see innovation & enterprise drive growth. India is now home to 75,000 startups in the 75th year of Independence and this is only the beginning,” said the minister in a tweet.
The Ministry of Commerce and Industry stated that the latest 10,000 start-ups were recognised in 156 days, compared to the initial 10,000 start-ups that were recognised in 808 days. It added that 49 per cent of the start-ups are from Tier-2 and Tier-3 cities.
Of the recognised start-ups, 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. Creation of jobs has seen a 110 per cent yearly increase over the last six years.
The Department for Promotion of Industry and Internal Trade (DPIIT) recognised the 75,000 start-ups in the 75th year of Independence.
The ministry added that during Prime Minister Narendra Modi’s Independence Day speech from the Red Fort in 2015, it was announced that an action plan to build a strong ecosystem for nurturing innovation and start-ups in the country would be initiated. Six years later, India has successfully created the third largest ecosystem.
The ‘Start-up India’ programme has evolved into a launchpad for startups, said the ministry.
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