Indian startups created over 7 lakh jobs

In a written reply to a question in the Rajya Sabha, Union Minister for Commerce and Industry – Piyush Goyal said that India’s 65,861 startups based across 640 districts reported an average employment creation of 11 jobs until March 14, 2022.
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Hello Readers, 

On March 25, in a seven-page long reply to startup-related questions from Rajya Sabha member Ram Shakal, Union Minister for Commerce and Industry Piyush Goyal articulated that startups and the entire innovation ecosystem are the engines of growth for any country.

Shakal had asked the minister whether the country’s startups are contributing in areas like rapidly increasing urbanisation, smart mobility, digitisation of rural areas, drones, agriculture, health (care sector) in India.

The parliamentarian in the upper house was also curious to know if the government proposes to take local startups to the global level and the efforts made in this direction.

In his reply, Goyal touched upon the launch of the Startup India initiative on January 16, 2016, and added that sustained government efforts in this direction have resulted in increasing the number of recognised startups from 726 in FY 2016-17 to 65,861 in FY 2021-22 (as on 14th March 2022).

While the latest recognised startup count stood at 66,359 as of March 21, 2022, it is noteworthy that in early June last year, the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, had revealed that a little over 48,000 startups, then recognised by DPIIT, had reported a job creation number of close to 5.50 lakh. Read more.


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