Chandigarh, Dec 15 (KNN) Haryana takes the lead with the largest number of recognised startups at 6,066 in the region, stated Union MoS Commerce and Industry, Som Parkash in the Lok Sabha on Wednesday.

The Minister remarked that following behind, Punjab stands as the region's second-largest hub for recognised startups, with a total of 1,253 ventures.

Among the 1.14 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) in India, Himachal Pradesh contributes 397, while Chandigarh (UT) has 398, the Minister informed.

As per the data shared by the Minister, Maharashtra accounts for the highest number of startups in India with 20,695 registered businesses, followed by Karnataka (12,394) and Delhi (12,301).

Parkash, replying to a question, said that under the Startup India initiative, the government recognises eligible entities as startups.

The government, he added, records and analyses the growth of recognised startups based on specific indicators like the total number of recognised startups in the country, direct employment generated, and the geographical coverage across the country.

The Lok Sabha was informed that the government’s Startup India initiative attributed to a rise in the number of recognised startups from over 300 in 2016 to 1.14 lakh in 2023 till October 31.

The recognised startups have generated over 12.2 lakh employment opportunities, spanning across each state and Union Territory (UT), covering over 80 per cent of the districts nationwide.

The Minister of state emphasised that the success or failure of startups and scale-ups (established startups) is most accurately assessed within specific phases of their development.

This, he noted, creates hurdles in generating accurate and meaningful statistics that capture the true scope and diverse outcomes of new businesses.

(KNN Bureau)