According to the Department for Promotion of Industry and Internal Trade (DPIIT), funding for Indian startups has surged from $8 billion in 2016 to $155 billion in 2024.
Highlighting the success of the Startup India initiative during a press briefing on January 10, DPIIT Secretary Amardeep Singh Bhatia stated that over the past nine years, the number of startups in the country has risen dramatically from just 400 in 2016 to more than 1.58 lakh today, ANI reported.
Growth Beyond Metros: Startups in Tier II and III Cities
Of these, 48% of the startups are based in Tier II and Tier III cities, signaling that “entrepreneurship is no longer confined to metropolitan hubs,” as reportedly stated by DPIIT Joint Secretary Sanjiv Singh.
Goal to Establish Startups in Every District by 2025
With the aim of ensuring the continued growth of the ecosystem, DPIIT has set a goal to establish a startup in every district across India by the end of 2025. While startups were present in only 120 districts in 2016, their presence has expanded to 750 districts today.
This announcement comes just days after DPIIT revealed that the Indian startup ecosystem had created over 1.6 million jobs across the country as of December 25, 2024.
Rise in Women-Led Startups
According to DPIIT, India is currently home to more than 73,000 startups that have at least one woman director.
Startup India Initiative: A Major Success
Launched in January 2016, the Startup India initiative aimed to build a strong homegrown startup ecosystem while nurturing innovation and encouraging investment. Under this initiative, DPIIT has recognized 157,066 startups, and 759,303 users have registered on the portal to date.
Major Boost for India’s Manufacturing Startup Ecosystem
In a significant move to boost India’s manufacturing startup ecosystem, DPIIT signed a Memorandum of Understanding (MoU) with US retail giant Walmart earlier this week.
The partnership is aimed at supporting and empowering startups, as well as micro, small, and medium enterprises (MSMEs) from Tier II and III cities, as stated by Sanjiv Singh, Joint Secretary at DPIIT, Ministry of Commerce and Industry.
