Over 16.6 lakh direct jobs have been created by Indian startups across more than 55 industries, the data shared by the Department for Promotion of Industry and Internal Trade (DPIIT) revealed.
Commerce and Industry Minister Piyush Goyal, in a written reply to the Rajya Sabha, emphasised that the information technology sector led the way with the highest number of jobs at 2,04,119, followed by healthcare and life sciences with 1,47,639 jobs and professional and commercial services with 94,060.
Other significant contributors included startups in education, which added 90,414 jobs; construction 88,702; food and beverages 88,468; and agriculture at 83,307.
India is now home to over 1.46 lakh DPIIT-recognised startups, including more than 100 unicorns. This number has grown significantly from just 300 recognised startups in 2016.
The flagship initiatives of the government were the Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS). These have proven to be important in addressing the various stages of startup business cycles.
The National Startup Awards, States’ Startup Ranking, and Innovation Week are helping build a solid startup ecosystem, the ministry said.
The digital platforms, such as the Startup India Hub and BHASKAR, have fostered collaboration among stakeholders while giving startups streamlined access to resources. These platforms have been instrumental in empowering entrepreneurs, especially in non-metro cities and remote regions, to connect with the larger ecosystem.
The government’s ongoing regulatory reforms and ecosystem development events are critical in driving innovation and job creation,” Goyal added.
As of June 30, 2024, the recognised startups of India accounted for 1,40,803. Since the year 2016, 15.53 lakh of direct employment has been rendered by these startups. They are critically important for Indian economic development.
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