India’s Growing Startup Ecosystem: Over 1.4 Lakh Startups Are Thriving

The number of startups in India has risen to over 1.4 lakh, Minister of State for Commerce and Industry Jitin Prasada revealed in the Rajya Sabha. According to Prasada’s written reply on Friday, Maharashtra leads with 25,044 startups recognised by DPIIT.

Karnataka comes second with 15,019 registered startups, closely followed by Delhi with 14,734. Uttar Pradesh and Gujarat come fourth and fifth with 13,299 and 11,436 startups respectively. The government has launched various initiatives, including the Startup India initiative from January 16, 2016, to support these ventures.

The Startup India Action Plan includes 19 measures in areas such as simplification, financing and industry-academia partnerships aimed at fostering a vibrant startup ecosystem. Additionally, the Startup India: The Way Ahead programme focuses on improving the ease of doing business and leveraging technology. The government has also set up a Rs 10,000 crore Fund of Funds, overseen by DPIIT and SIDBI, to meet the financing needs of startups across multiple fiscal cycles.

The government has also made it easier to access capital at various stages, reducing dependence on foreign capital and promoting domestic venture capital. These efforts underscore the government’s commitment to nurturing innovation and entrepreneurship in India. (ANI)

(Based on information from the agency.)