New Delhi: As the Startup India initiative completed a decade on Thursday, government data highlighted its role in transforming India into the world’s third-largest startup ecosystem, with strong participation from smaller cities and significant job creation since its launch on January 16, 2016.
According to official figures, India today has over two lakh DPIIT-recognised startups, nearly 48 per cent of which have emerged from tier 2 and tier 3 cities, underscoring the programme’s regional reach. Over the past decade, startups have generated more than 21 lakh jobs, while attracting around Rs 15 lakh crore in private funding.
Marking the milestone on National Startup Day, Union Minister of Commerce and Industry Piyush Goyal described Startup India as a “revolution” that reshaped India’s entrepreneurial landscape.
“It is a decade to the Startup India revolution. A bold step that enabled India to dream big and act bigger,” Goyal said. He added that “the proof of the stellar success of PM Narendra Modi Ji’s pathbreaking initiative is the over 2 lakh DPIIT-recognised startups in the country that have generated over 21 lakh job opportunities.”
Highlighting inclusivity, Goyal said, “What makes this success sweeter is that it has unlocked the spirit of enterprise in Tier 2/3 cities and has empowered our youth and women.” Reflecting on the journey, he noted that the past 10 years “showcase consistency, inclusivity and growth, along with a promise of a bright future ahead for India’s startup ecosystem.”
The government has backed startups through a series of policy and regulatory measures, including an 80 per cent rebate on patent filing fees, a five-year exemption from inspections under labour and environment laws, and a 90-day exit mechanism for startups that choose to shut down. Since 2016, 63 regulatory reforms have been undertaken to ease compliance and improve the ease of doing business.
A key financial support mechanism has been the Rs 10,000 crore Fund of Funds for Startups (FFS), aimed at boosting investment in new-age and innovation-driven sectors.
Union Minister for Road Transport and Highways Nitin Gadkari said startups are central to India’s growth narrative. “On National Startup Day, we celebrate India’s dynamic entrepreneurial ecosystem that is driving innovation, job creation, and sustainable growth,” he said, adding that startups are “strengthening the nation’s economic foundation, in line with the visionary goal of Hon’ble PM Shri Narendra Modi Ji to build a self-reliant, future-ready Bharat.”
Echoing similar views, Arvind Kumar, Director General of Software Technology Parks of India (STPI), said, “The ‘Startup India’ initiative, launched on January 16th, 2016, has not only empowered our country’s entrepreneurship scenario but also nurtured our startup ecosystem and made our nation one that produces goods and creates jobs.”
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