India’s vibrant startup scene has hit a new high, registering over 2 lakh entities that have spawned more than 21 lakh jobs, as per Union Minister Piyush Goyal. This achievement marks a pivotal shift in the nation’s economic narrative.
Goyal, addressing stakeholders, detailed the ecosystem’s evolution. Initiatives like Fund of Funds and incubator networks have disbursed billions, nurturing startups from ideation to scaling. ‘This is India’s moment on the world stage,’ he asserted.
Quantitatively, the growth is staggering: from 500 startups in 2016 to 2 lakh today, with 1,200+ incubators and robust DPIIT recognition. Fintech alone accounts for 20% of unicorns, while climate tech is the next frontier.
On employment, Goyal stressed inclusivity—65% of new jobs in non-metro areas, with significant female participation. Stories abound of startups like those in edtech reaching 100 million users, bridging education gaps.
Policy pushes ahead include R&D tax credits and global market access. As Goyal envisioned, ‘With this talent pool, India will lead the Fourth Industrial Revolution.’ The startup revolution is redefining prosperity for generations.