Over 16 Lakh Jobs Are Created by Startups: Commerce Ministry

SUMMARY According to the commerce ministry, 1.57 lakh businesses were recognized by DPIIT as of December 25, and the Indian startup ecosystem has generated over 16 lakh jobs nationwide. According to DPIIT, there are currently over 73,000 businesses in India with at least one female director. Startups like Zomato, Ola, and Nykaa have shown that India can compete in global markets by growing their businesses outside of their country.According to the ministry of commerce and industry, as of December 25, 1.57 lakh companies had been approved by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Startup India initiative, contributing to the creation of over 16 lakh employment nationwide.

With 1.57 lakh firms approved by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Startup India initiative as of December 25, the Indian startup ecosystem has generated over 16 lakh jobs nationwide, according to the ministry of commerce and industry.According to the department, the proliferation of startups in a variety of industries, such as fintech, edtech, health-tech, and e-commerce, has been stimulated by the broad availability of reasonably priced internet and a youthful and vibrant workforce.A mix of demographic, economic, and policy variables are propelling India's ascent to the top of the global startup ecosystem, the report stated. With more than 100 unicorns, the Indian startup scene is influencing the direction of innovation and entrepreneurship, according to the DPIIT, which also stated that India has become one of the most dynamic startup ecosystems in the world, earning its position as the third largest startup center.