India Becomes World’s Third-Largest Startup Hub, Creating 16 Lakh Jobs

India’s startup ecosystem continues to thrive, with over 16 lakh jobs created across the country, according to the Department for Promotion of Industry and Internal Trade (DPIIT). 

As of December 25, the department has officially recognized 1.57 lakh startups, a testament to the country's growing entrepreneurial landscape.

In addition, India now boasts more than 73,000 startups with at least one woman director, highlighting the increasing participation of women in the entrepreneurial sector.

The rapid growth of startups is attributed to several factors, including the widespread availability of affordable internet and a young, dynamic workforce. Startups are making significant strides in diverse sectors such as fintech, edtech, health-tech, and e-commerce.

India's ascent as a global startup powerhouse is fueled by a combination of demographic, economic, and policy factors, the DPIIT noted. The country is now recognized as the third-largest startup hub in the world, with over 100 unicorns contributing to the robust growth of the ecosystem.

Prominent Indian-origin companies such as BYJU’S, Zomato, Ola, and Nykaa have expanded their operations globally, further establishing India’s presence on the world stage. The department also highlighted the success of Indian startups in Silicon Valley, underscoring the nation’s growing influence in global innovation and entrepreneurship.

Also Read: Startup India Initiative Creates Over 16.6 Lakh Jobs Across 55 Industries