India Emerges as the 3rd Largest Startup Ecosystem with 1.59 Lakh Startups and 16.6 Lakh Jobs
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Synopsis
As of January 15, India boasts over 1.59 lakh startups, establishing itself as the third-largest startup ecosystem globally, with 16.6 lakh jobs created since 2016. This growth reflects a robust entrepreneurial landscape fostered by the 'Startup India' initiative, celebrating nine years of innovation and inclusivity.
Key Takeaways
- India has over 1.59 lakh recognised startups.
- 16.6 lakh direct jobs created since 2016.
- IT services sector leads with 2.04 lakh jobs.
- National Startup Day celebrates nine years of progress.
- Women entrepreneurs are increasingly represented.
New Delhi, Jan 15 (NationPress) As of January 15, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognised over 1.59 lakh startups, positioning India as the third-largest startup ecosystem globally, according to a government announcement on Wednesday.
From 2016 through October 31, 2024, these recognised startups have created more than 16.6 lakh direct jobs, playing a crucial role in the country’s employment landscape.
The IT services sector leads the job creation with 2.04 lakh jobs, followed by healthcare and life sciences, contributing 1.47 lakh jobs, and professional and commercial services with approximately 94,000 jobs, stated the Ministry of Commerce and Industry.
On January 16, India celebrates nine years of the ‘Startup India’ initiative, a transformative movement that commenced in 2016.
This day is recognised as ‘National Startup Day’, commemorating the nation’s progress in nurturing a resilient and inclusive entrepreneurial ecosystem.
Key cities such as Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have spearheaded this evolution, while smaller towns are also increasingly contributing to the entrepreneurial spirit.
Startups in sectors like fintech, edtech, health-tech, and e-commerce are addressing local challenges and achieving global acclaim.
“The count of DPIIT-recognised startups has surged from around 500 in 2016 to 1,59,157 as of January 15, 2025. By October 31, 2024, 73,151 recognised startups had at least one woman director, indicating a rise in women entrepreneurs in India,” as reported by government data.
The DPIIT introduced the Bharat Startup Knowledge Access Registry (BHASKAR) platform in September of the previous year.
This innovative initiative, part of the Startup India scheme, aims to centralise and enhance interactions within India’s entrepreneurial community.
The recent ‘Startup Mahakumbh 2024’ saw impressive participation, recording 48,000 attendees, 1,300 exhibitors, and international delegations from 14 countries, highlighting its growing influence in shaping India’s entrepreneurial framework.
The fifth edition of Startup Mahakumbh is scheduled for March 7-8, 2025, in New Delhi, as confirmed by the Ministry.
