India Has Third Largest Startup Ecosystem In The World: Government

India has firmly established itself as the third-largest startup ecosystem in the world, with over 1.57 lakh certificates issued by the Department for Promotion of Industry and Internal Trade (DPIIT) for recognition of startups as of 31 December 2024.

- STATESMAN NEWS SERVICE

The nation's entrepreneurial landscape, fueled by more than 100 unicorns, is redefining innovation and creating new opportunities across sectors. Major hubs like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have been at the forefront of this transformation, while smaller cities are increasingly contributing to the momentum with over 51 percent of the startups emerging from Tier II/III cities.

Through initiatives like Startup India, the government has played a pivotal role in nurturing this growth and empowering the next generation of entrepreneurs, senior officials say.

They drew attention to Startup India and some other programmes mentioned below.

Launched on 16 January 2016, Startup India is a flagship initiative by the Government of India to foster innovation and create a thriving startup ecosystem. Its goal is to drive economic growth and generate large-scale employment opportunities. By supporting startups in their growth journey, the initiative encourages innovation and design. Through various schemes, it aims to empower startups to scale and succeed.

The number of DPIIT-recognised startups has risen from around 502 in 2016 to 1,57,706 as of 31 December 2024. Startups have created over 17.28 lakh direct jobs as of 31 December 2024, with the IT Services sector leading at 2.10 lakh jobs, followed by Healthcare & Life sciences (1.51 lakh) and Professional & Commercial Services (96,474).