With 75000 recognised startups India crosses a landmark: Union Minister Piyush Goyal

New Delhi, Aug 3 (KNN) India has achieved a landmark milestone, wherein 75000 startups have been recognized in the country, Piyush Goyal, Union Minister for Commerce & Industry announced today.

While the first ten thousand startups were recognized in 808 days, the latest ten thousand gained recognition in only 156 days.

The Department for Promotion of Industry and Internal Trade (DPIIT) has recognized more than 75,000 startups, a milestone which coincides with 75th year of independence. With more than 80 Startups getting recognized per day, India becomes the country with the highest rate in the world.

Speaking about the milestone achieved by the country, Goyal said that these numbers tell the power of a vision to see innovation and drive growth in the country.

Out of the total recognized startups, around 12 per cent cater to IT services, 9 per cent to Healthcare and Life Sciences, 7 per cent to education, 5 per cent to professional and commercial services and 5 per cent to agriculture.

An impressive, 7.46 lakh jobs have been created by the Indian startup ecosystem, so far, which has been a 110 per cent yearly increase over the last 6 years. Around 49 per cent of the startups belong from Tier II & Tier III cities.

The startup India program has been successful in providing an enabling environment for the startups in the country to grow. From providing funding to tax incentives, from support on intellectual property rights to eased public procurement, from enabling regulatory reforms to access to international fests and events, Startup India program has become synonymous with sustainable economic growth. (KNN Bureau)