Union Minister Piyush Goyal dropped a bombshell stat: India now has more than 2 lakh registered startups, fueling over 21 lakh jobs nationwide. This surge positions India as a global powerhouse in innovation and employment.
At an industry conclave, Goyal painted a vivid picture of transformation. ‘What started as a dream is now reality—over 200,000 startups employing millions,’ he said. Key enablers include the Startup India seed fund, credit guarantees, and a single-window clearance system.
Breaking it down, the ecosystem spans 50+ sectors, with Bengaluru, Delhi-NCR, and Mumbai leading, but Pune, Hyderabad, and Chennai gaining fast. The minister lauded the 100+ unicorns and the $500 billion in total valuation, drawing parallels to Silicon Valley’s heyday.
The job creation aspect is transformative. Over 21 lakh positions, many in high-skill areas like software and biotech, have empowered women and rural talent. Goyal shared anecdotes of startups revolutionizing farming through drones and apps, boosting farmer incomes by 30-50%.
Challenges like funding winters are being tackled with new policies for angel investors and IPO ease. Goyal concluded optimistically: ‘India’s startups are not just businesses; they are the backbone of our $5 trillion economy dream.’ The momentum is unstoppable.