PIB News Update: Indian startup ecosystem is widely recognized as the 3rd largeststartup ecosystem. As of 14th , July 2021 total 52,391 entities are recognized as startups by Department for Promotion of Industry and Internal Trade (DPIIT) and as of 14th July 2021, more than 5.7 lakh jobs have been reported by more than 50,000 startups.
As per Industry estimates, there are 53 unicorns currently in India, with a tentative valuation of Rs. 1.4 lakh crore. Valuation of a company is a market driven exercise and the data of individual companies is not maintained by DPIIT.
The Startup India initiative is a flagship initiative of Government of India which aims to build a strong ecosystem for nurturing innovation and Startups in the country. A 19-point Startup India Action Plan was launched in January 2016 which paved the way for the introduction of a number of policy initiatives to build a strong, conducive, growth-oriented environment for Indian startups. Hon’ble Prime Minister unveiled Startup India: The Way Ahead at 5 years celebration of Startup India on 16th January 2021 which includes actionable plans for promotion of ease of doing business for startups, greater role of technology in executing various reforms, building capacities of stakeholders and enabling a digital Aatmanirbhar Bharat.
This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri SomParkash, in a written reply in the Lok Sabha today.