India Becomes World's 3rd Largest Startup Ecosystem with 1.59 Lakh Startups
India has consolidated its ranks as the world's third largest startup ecosystem, with over 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) up to January 15, 2025, said a government statement.
Since 2016, these startups have created more than 16.6 lakh direct jobs, hugely boosting the employment landscape of the nation. Some of the key sectors include IT services, which saw 2.04 lakh jobs, healthcare and life sciences, with 1.47 lakh jobs, and professional and commercial services, at 94,000 jobs.
This week, the government marked nine years of the 'Startup India' initiative on 16 January - now celebrated as 'National Startup Day.' A program launched way back in 2016 has helped create a more inclusive ecosystem for entrepreneurship: cities like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have driven the movement; smaller cities, too, have come to be of critical importance to India's startup momentum.
India's startups are increasingly becoming more globally recognized and successful in industries such as fintech, edtech, health-tech, and e-commerce, resolving the country's challenges with creative solutions. Importantly, DPIIT has so far recognized at least one woman director in at least 73,151 registered startups.
In order to streamline interactions in the entrepreneurial ecosystem under the Startup India program, the BHASKAR platform was rolled out in September 2024.
The recently concluded 'Startup Mahakumbh 2024' attracted 48,000 attendees, 1,300 exhibitors, and delegations from 14 countries, highlighting India's vibrant entrepreneurial energy. The fifth edition of the event is scheduled for March 7-8, 2025, in New Delhi.
With rapid growth and a focus on innovation, India's startup ecosystem continues to be a cornerstone of economic transformation, contributing to job creation and fostering global recognition.
