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India has reached a landmark milestone: more than 75,000 start-ups recognised to date

Department of Commerce says more than 80 start-ups receive recognition per day

India has passed the mark of 75,000 recognised start-ups. The Department for Promotion of Industry and Inland Trade (DPIIT) has recognised over 75,000 start-ups, which is a milestone event coinciding with the 75th year of independence. This was reported on the official website of the Government of India.

The Ministry of Commerce and Industry noted that India's startup ecosystem continues to evolve.

During his Independence Day speech in 2015, Prime Minister Narendra Modi spoke about his vision of a new India that harnesses the entrepreneurial potential of its people.

Recall that on 16 January 2016 (the date that has now been declared National Startup Day), a programme was initiated to develop an action plan to build a strong innovation system in the country. Six years later, this action plan has successfully transformed India into the 3rd largest startup ecosystem.

The first ten thousand start-ups were recognised in 808 days, while the latest ten thousand were created and approved in just 156 days. The Ministry of Commerce reported that more than 80 start-ups receive recognition a day.

Photo: IStock

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