India Emerges As Third-Largest Ecosystem Globally With 1.59 Lakh Startups, 16.6 Lakh Jobs

India has firmly established itself as the third-largest startup ecosystem globally, with over 1.59 lakh startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) as of January 15, 2025. This marks a significant achievement for the country’s entrepreneurial landscape.

India In Job Creation And Economic Contribution

From 2016 to October 31, 2024, DPIIT-recognized startups have created over 16.6 lakh direct jobs, contributing significantly to India’s employment generation efforts. Among the top contributors to job creation, the IT services industry leads with 2.04 lakh jobs, followed by healthcare and life sciences with 1.47 lakh.

With this, professional and commercial services lead to approximately 94,000 jobs, as reported by the Ministry of Commerce and Industry.

‘Startup India’ Celebrates Nine Years

India celebrates nine years of ‘Startup India’ on January 16, marking a transformative journey that began in 2016. This day, now designated as ‘National Startup Day,’ honours the nation’s progress in fostering a robust and inclusive entrepreneurial ecosystem.

Major startup hubs such as Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have been at the forefront of this transformation, with smaller cities increasingly contributing to India’s entrepreneurial momentum.

Bharat Startup Knowledge Access Registry (BHASKAR)

To further strengthen the startup ecosystem, DPIIT launched the Bharat Startup Knowledge Access Registry (BHASKAR) platform in September 2024. This initiative aims to centralize and streamline interactions within India’s entrepreneurial ecosystem, contributing to greater collaboration and efficiency.

India Startup Ecosystem

The ‘Startup Maha Kumbh 2024’ event witnessed impressive participation, with 48,000 attendees, 1,300 exhibitors, and global delegations from 14 countries. This demonstrates the growing global recognition of India’s entrepreneurial potential.

The fifth edition of the Startup Maha Kumbh is scheduled for March 7-8, 2025, in New Delhi, further solidifying India’s position as a leader in the global startup ecosystem.

India’s startup ecosystem has reached remarkable milestones, showcasing the country’s growing influence in the global entrepreneurial arena. The government’s initiatives, such as ‘Startup India,’ the BHASKAR platform, and events like Startup Maha Kumbh, are vital in nurturing and supporting the country’s vibrant entrepreneurial ecosystem.

Also Read: India’s Startup Ecosystem Transformed: Over 1.57 Lakh Startups, 118 Unicorns By 2024