Assam Tops the Northeast with 2,054 Startups: Government Report
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Synopsis
As of February 13, Assam leads the Northeast region with 2,054 startups, according to a government report. The initiative is part of a broader effort to foster innovation and entrepreneurship in India.
Key Takeaways
- Assam has the highest number of startups in the Northeast.
- Government initiatives support startup development.
- Significant job creation reported from recognized startups.
- India is a leading global startup ecosystem.
- Investment measures for MSMEs and startups announced.
New Delhi, Feb 13 (NationPress) With Assam leading the charge, the northeast region now boasts at least 2,054 startups, as announced by the Central government on Thursday.
Assam accounts for 1,487 startups, while Manipur has 179 and Tripura has 141 startups, according to the Minister of State in the DoNER Ministry, Dr. Sukanta Majumdar, in a written response to a query in the Rajya Sabha.
Moreover, the North Eastern Development Finance Corporation Ltd., an NBFC under the Ministry of Development of the North Eastern Region, is facilitating first-generation entrepreneurs through the North East Enterprise Development Scheme (NEEDS), aimed at enhancing the startup ecosystem in the Northeast Region of India.
The government's 'Startup India' initiative, launched on January 16, 2016, reflects its goal to cultivate a solid ecosystem for innovation and startups while promoting investments across the country's startup landscape.
Through various flagship and additional schemes, the Centre is actively working on the northeast region's development via relevant ministries and departments.
Since the financial year 2014-15, a total expenditure of Rs 5.74 lakh crore has been made under the 10 per cent general budget allocation (GBS) by Central ministries and departments, as reported by the Ministry of Development of North-East Region.
The DoNER Ministry is also executing five schemes that allow development projects proposed by both state governments in the northeast and Central ministries/agencies for execution in the area.
Earlier this month, Union Finance Minister Nirmala Sitharaman unveiled substantial measures to support registered micro, small, and medium enterprises (MSMEs) and startups.
As of January 15, India has firmly established itself as the third-largest startup ecosystem in the world, with over 1.59 lakh startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT).
These recognized startups have generated more than 16.6 lakh direct jobs across 55 diverse industries. The IT sector leads with the most direct jobs created (2,04,119), followed by healthcare and life sciences (1,47,639), and professional and commercial services (94,060), based on the latest government data.
