The government announced on Wednesday that startups in India have generated over 1.6 million jobs nationwide. The Department for Promotion of Industry and Internal Trade (DPIIT) revealed that it has recognized 1.57 lakh startups as of December 25.
Notably, over 73,000 startups in the country have at least one woman director, highlighting increased gender inclusivity in entrepreneurship.
“Startups are proving to be significant job creators,” DPIIT stated in a release. The department attributed this growth to affordable internet, a dynamic workforce, and a thriving innovation culture. Startups are flourishing across sectors such as fintech, edtech, health-tech, and e-commerce, it added.
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India’s demographic advantage, economic growth, and supportive policies have positioned the nation as a global startup hub. The country now boasts the world’s third-largest startup ecosystem, with over 100 unicorns driving innovation.
“India’s startups are shaping the future of entrepreneurship,” the statement noted. Companies like BYJU’S, Zomato, Ola, and Nykaa have expanded globally, showcasing India’s competitive edge. Additionally, the success of Indian-origin startups in Silicon Valley underscores the country’s growing global influence.
As startups continue to scale and innovate, India moves closer to becoming the world’s leading startup ecosystem, the DPIIT emphasized.