Startups add 1.66 million jobs from 2016 to October 2024
- IBEF
- January 16, 2025
India’s recognized startups have generated over 16.6 lakh direct jobs from 2016 to October 31, 2024, as reported by the Department for Promotion of Industry and Internal Trade (DPIIT). The Information Technology (IT) services sector led with 2.04 lakh jobs, followed by healthcare and life sciences (1.47 lakh) and professional and commercial services (94,000). With more than 1.59 lakh startups recognized as of January 15, 2025, India stands as the third-largest startup ecosystem globally, boasting over 100 unicorns.
Under the Fund of Funds for Startups Scheme, Rs. 11,148 crore (US$ 1.29 billion) has been committed, catalysing investments of Rs. 21,221.36 crore (US$ 2.45 billion) across 1,165 startups by 2024. To further bolster growth, DPIIT has partnered strategically with ITC Ltd to support startups in the manufacturing sector. This announcement comes ahead of the ninth anniversary of the Startup India program on January 16, marking a significant milestone in India’s entrepreneurial journey.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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