Success rate of Indian start-ups higher than rest of the world: Mr. Piyush Goyal
- IBEF
- December 15, 2022
Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Mr. Piyush Goyal, stated that the success rate of start-ups in India is relatively higher than in the rest of the world. He informed that the number of start-ups has increased from 452 in 2016 to 84,012 as on November 30, 2022.
The Start-up India Initiative was launched on January 16, 2016, by the Central Government of India, to boost the start-up community. Along with this, the Fund of Funds for Start-ups (FFS), Credit Guarantee Scheme for Start-ups (CGSS), and Start-up India Seed Fund Scheme (SISFS) have also been formulated to help the start-ups through various stages of their business cycle. SISFS aims at providing financial assistance to start-ups and is being executed with an aggregation of US$ 114.2 million (Rs. 945 Crore).
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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