India’s 75,000 Startups in the 75th Year of Independence

Piyush Goyal, the Union Minister for Commerce & Industry stated today that India had reached a historic milestone by officially recognizing 75000 startups across the nation.

The current ten thousand startups were acknowledged in only 156 days, compared to the first ten thousand’s 808 days.

Over 75,000 startups have received recognition from the Department for Promotion of Industry and Internal Trade (DPIIT), a significant achievement that marks the country’s 75th anniversary of independence. India now leads the globe in the number of startups recognized, with more than 80 recognized each day.

Speaking about the country’s achievement of this milestone, Goyal remarked that these statistics demonstrate the importance of having a vision that encourages advancement and innovation.

A little over 12% of all recognized startups offer IT services, 9% do so in the healthcare and life sciences sector, 7% are in the educational sector, 5% are in the professional and business services sector, and 5% do so in the agricultural sector.

The Indian startup ecosystem has so far produced an impressive 7.46 lakh employment, which represents an annual rise of 110 percent over the previous six years. From Tier II and Tier III cities, about 49% of startups come.

The startup India program has been effective in creating a favorable atmosphere for the development of startups in the nation. The Startup India program has come to be associated with sustainable economic growth in a variety of ways, such as through funding and tax incentives, support for intellectual property rights and simplified public procurement, facilitation of regulatory reforms, and access to international events and concerts.