India now home to 75,000 startups... this is only the beginning, says Mr. Piyush Goyal
- IBEF
- August 4, 2022
India has 75,000 startups in its 75th year of independence, according to Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Mr. Piyush Goyal.
As India celebrates Azadi ka Amrit Mahotsav, the Department for Promotion of Industry and Internal Trade (DPIIT) has acknowledged more than 75,000 startups in India.
Of the total recognised startups, about 12% are in the IT sector, 9% are in the healthcare and life sciences sector, 7% are in the education sector, 5% are in the professional and business services sector, and 5% are in the agricultural sector.
"The Indian startup ecosystem has so far generated an astonishing 7.46 lakh jobs, a rise of 110% annually over the previous six years. The fact that around 49% of our startups are currently from tier II and tier III cities is proof of the enormous potential of our nation's youth," according to a statement from the Ministry. The Ministry added that whereas the first 10,000 startups were recognised in 808 days, the most recent 10,000 were achieved in just 156 days.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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