According to Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Mr. Piyush Goyal, the India’s startup ecosystem is valued at close to Rs. 3 lakh crore (US$ 36.42 billion). He was responding to a question on what is being done to strengthen the startup ecosystem.
Over 80,000 startups are registered with the Industry Ministry, according to Mr. Goyal. He discussed the different steps the government has done to support startups. He added that everything will soon be done online and that the government was bolstering the patent offices.
Mr. Goyal was interacting with individuals from the Indian Institute of Foreign Trade (IIFT), National Institute of Fashion Technology (NIFT), National Institute of Design (NID), and other institutions when he gave this speech.
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