Hoping to increase government-registered startups to one million in 10 years: Union Minister of Commerce & Industry, Mr. Piyush Goyal
- IBEF
- February 12, 2025
Union Minister of Commerce & Industry, Mr. Piyush Goyal, has expressed optimism that the number of government-registered startups in India will reach one million in the next decade, thanks to the initiatives supporting entrepreneurial growth. India has 1,57,000 registered startups, a significant rise from just 450 in 2016. The government's Startup India initiative, launched on January 16, 2016, aims to foster innovation and create a strong startup ecosystem. Through programs like the Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme, and the Credit Guarantee Scheme for Startups, the government has provided financial assistance across various sectors and stages of business development.
He also highlighted the growing opportunities for Israeli investments in India, given its massive domestic market of 1.4 billion people. At the India-Israel Business Forum, he discussed ways further to boost trade and technological collaboration between the two nations. A high-level Israeli delegation led by the Minister of Economy, Mr. Nir M Barkat, explored investment prospects in technology, manufacturing, healthcare, and defence sectors. Despite a dip in bilateral trade in 2023-24, Israeli investments in India have expanded, particularly in renewable energy, water technology, and defence. Indian companies have increasingly invested in Israel's pharmaceuticals, Information Technology (IT), and infrastructure sectors.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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