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India 3rd Largest Startup Ecosystem of the World, Says Centre

In the period starting from  2016 till October 31, 2024, recognised startups have reportedly created over 16.6 lakh direct jobs, which is a significant contribution to employment generation.

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India 3rd Largest Startup Ecosystem of the World, Says Centre

India 3rd Largest Startup Ecosystem of the World, Says Centre

According to the central government, India is now the third-largest startup ecosystem in the world.  As of January 15 over 1.59 lakh startups have been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT).

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In the period starting from  2016 till October 31, 2024, recognised startups have reportedly created over 16.6 lakh direct jobs, which is a significant contribution to employment generation. As per the Ministry of Commerce and Industry, the IT services industry leads with 2.04 lakh jobs, followed by healthcare and Lifesciences with 1.47 lakh jobs, and professional and commercial services with around 94,000 jobs.

Today ( January 16), India marks nine years of ‘Startup India’, the journey that began in 2016. This day is designated as ‘National Startup Day’ and the country celebrates the journey of a robust and inclusive entrepreneurial ecosystem on this occasion. 

Major hubs like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR are in the lead in this transformation. However, smaller cities are not behind, as they have increasingly contributed to the nation's entrepreneurial momentum. Startups in fintech, edtech, health-tech, and e-commerce have overcome local challenges and are able to gain global recognition.

“The number of DPIIT-recognised startups has grown from around 500 in 2016 to 1,59,157 as of January 15, 2025. As of October 31, 2024, a total of 73,151 recognised startups include at least one woman director, showcasing the rise of women entrepreneurs in India,” according to government data.

The DPIIT  launched the BHASKAR (launched the Bharat Startup Knowledge Access Registry) platform in September last year. This being a part of the Startup India programme, aims at centralizing and streamlining interactions within India’s entrepreneurial ecosystem.

The ‘Startup Mahakumbh 2024’ also witnessed staggering participation, with 48,000 attendees, 1,300 exhibitors, and global delegations from 14 countries. The fifth edition of Startup Mahakumbh is all set to take place on March 7-8, 2025, in New Delhi, said the Ministry.

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