Ahead of National Startup Day on January 16, the Department for Promotion of Industry and Internal Trade (DPIIT) released impressive figures showcasing the rapid growth of the startup ecosystem in India. Since the launch of the Startup India initiative in 2016, India has witnessed significant progress in its entrepreneurial landscape.
Startup Numbers Skyrocketed
The number of registered startups in India has skyrocketed over the past nine years, rising from around 400 in 2016 to more than 157,000 by the end of 2024. This remarkable growth highlights the success of the Startup India initiative, which has provided critical support to emerging businesses across the country.
Boost In Startup Funding
The funding space has also experienced an impressive boom. Startups in India have attracted a total of USD 115 billion in funding, a significant jump from just USD 8 billion in 2016.
This influx of investment is a testament to the growing confidence in India’s startup ecosystem and its potential for innovation and growth.
Job Creation And Unicorn Growth
According to DPIIT, Indian startups have created over 1.7 million jobs, contributing significantly to the nation’s employment landscape. In addition, the number of unicorns—startups valued at over a billion dollars—has increased exponentially, rising from just 8 in 2016 to 118 today.
India now boasts over 750 districts with startup activity, compared to just 120 in 2016. This wide geographic spread of startups indicates the increasing reach of entrepreneurial ventures across the country, beyond major metropolitan hubs.
Government’s Support Through Key Initiatives
Under Prime Minister Narendra Modi’s leadership, the government launched the Startup India initiative on January 16, 2016, to create a robust ecosystem for nurturing innovation, encouraging investments, and supporting startups across India. To further this vision, the government has introduced several key schemes and interventions, including:
- Startup India Seed Fund Scheme
- Fund of Funds for Startups
- Credit Guarantee Scheme for Startups
- Income Tax Exemption for 3 Years
- Faster Exit for Startups
- Support for Intellectual Property Protection
These initiatives have significantly contributed to the growth of the startup ecosystem by providing financial support, tax exemptions, and faster regulatory processes.
Additionally, the government has classified startups as “fast-track firms,” enabling them to wind up operations in just 90 days, compared to the 180 days required for other companies.
Also Read: Centre Releases Rs 1.73 Trillion Tax Devolution To State Governments
To read more such news, download Bharat Express news apps
