As of January 15, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognized over 159,000 startups, solidifying India’s position as the third-largest startup ecosystem globally, according to government reports.
From 2016 until October 31, 2024, acknowledged startups have reportedly generated more than 1.66 million direct jobs, making a substantial impact on employment growth.
The IT services sector is at the forefront, contributing 204,000 jobs, while the healthcare and life sciences sectors follow with 147,000 jobs. Additionally, professional and commercial services have added approximately 94,000 jobs, according to a statement from the Ministry of Commerce and Industry.
On January 16, India commemorates nine years of the ‘Startup India’ initiative, a significant journey that commenced in 2016. This day, recognized as ‘National Startup Day’, honors the country’s progress in cultivating a strong and inclusive entrepreneurial environment.
