Job Creation: Startups Starting Up!
Small Enterprise|November 2021
Do startups create jobs? This could unarguably be one of the most sought after questions in recent times. While it is out and clear that startups make way for employment opportunities, the discussion boils down to the importance of startups in creating jobs. The startup ecosystem indeed plays a major role in job creation and is touted as an economic panacea.
Harshini

The number of Indian entrepreneurs and startups have been rising at a faster pace in recent years. Today, India stands as the third-largest startup ecosystem in the world, only after the US and China. The blooming system is also a result of increased government support. The Startup Indiascheme has made a significant difference.

Experts and studies indicate that increasing startup operations have opened gates for new employment opportunities. In June 2021, The Department for Promotion of Industry and Internal Trade (DPIIT) revealed that the Startup India initiative had recognised 50,000 startups. It also mentioned that these 50,000 startups led to the creation of 5.5 lakh jobs. On average, each startup has created 11 employment opportunities. These numbers reflect only the jobs created by the recognised startups.

Startups during the pandemic

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