The Business Bytes
THEBUSINESSBYTES.COM
NEW DELHI, JANUARY 15, 2025
With over 1.59 lakh startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) as of January 15, India has solidified its position as the world’s third-largest startup ecosystem. This milestone, highlighted by the government on Wednesday, underscores the nation’s rapid entrepreneurial growth and its significant impact on job creation.
Since 2016, recognized startups have generated more than 16.6 lakh direct jobs, driving substantial employment across various sectors. The IT services industry leads this surge with 2.04 lakh jobs, followed by healthcare and life sciences contributing 1.47 lakh jobs, and professional and commercial services adding approximately 94,000 jobs, according to a statement from the Ministry of Commerce and Industry.
As India celebrates nine years of the ‘Startup India’ initiative on January 16, now designated as ‘National Startup Day,’ the focus remains on fostering a dynamic and inclusive entrepreneurial ecosystem. Major startup hubs such as Bengaluru, Hyderabad, Mumbai, and Delhi-NCR continue to spearhead this transformation, with smaller cities playing an increasingly vital role in fueling the country’s startup momentum.
The rise of startups in fintech, edtech, health-tech, and e-commerce sectors has not only addressed local challenges but also garnered global acclaim. Government data reveals a remarkable growth in DPIIT-recognized startups from around 500 in 2016 to 1,59,157 by January 15, 2025. Notably, as of October 31, 2024, 73,151 of these startups include at least one woman director, reflecting the growing influence of women entrepreneurs in India’s startup landscape.
In line with its commitment to supporting startups, the DPIIT launched the Bharat Startup Knowledge Access Registry (BHASKAR) platform in September last year. This innovative platform, a key component of the Startup India program, aims to streamline and centralize interactions within the entrepreneurial ecosystem.
The ‘Startup Mahakumbh 2024’ exemplified India’s entrepreneurial vigor, drawing 48,000 attendees, 1,300 exhibitors, and global delegations from 14 countries. Building on this momentum, the fifth edition of Startup Mahakumbh is slated for March 7-8, 2025, in New Delhi, promising to further shape the nation’s entrepreneurial future.
