Department for Promotion of Industry and Internal Trade (DPIIT) has revealed that startups in India have created over 1.6 million jobs.
This report reflects the vital role startups play in the country’s economy, contributing to various sectors such as fintech, edtech, health-tech, and e-commerce.
DPIIT Report on Startups: Gender Inclusivity & Global Reach
India’s startup ecosystem has become the world’s third-largest, driven by affordable internet and a young, dynamic workforce.
As of December 25, 2024, the DPIIT has recognized 157,000 startups across the country.
This vibrant ecosystem has produced over 100 unicorns, including well-known companies like Zomato, Ola, and Nykaa, which are not only shaping the future of innovation but also making a global impact.
The DPIIT report highlights that more than 73,000 startups have at least one woman director on their board, showcasing a broader shift towards gender inclusivity in the startup landscape.
Additionally, the success of Indian-origin startups in Silicon Valley further underscores India’s influence in shaping global innovation trends.
Government Support and Initiatives
India’s journey toward becoming the world’s leading startup ecosystem is driven by a combination of demographic, economic, and policy factors.
The government has introduced several initiatives to support and nurture entrepreneurship, including the flagship Startup India program launched in 2016.
This program has been instrumental in reducing bureaucratic hurdles, providing tax benefits, and offering funding support to early-stage startups.
Startups have driven growth across various sectors, with fintech, edtech, health-tech, and e-commerce leading the way.
These sectors have leveraged emerging technologies such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT) to solve local and global problems.
The culture of innovation, supported by incubators, accelerators, and robust mentoring networks, has fostered a unique ecosystem that bridges grassroots challenges with cutting-edge solutions.
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