India achieves landmark milestone of recognising over 75000 startups so far
- India has achieved a landmark milestone, as the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce & Industry, has recognized more than 75,000 startups in the country.
- This achievement has been achieved in a period of just six years and also coincides with the 75th year of independence of India.
- Of the total recognized startups, around 12% belongs to IT services, 9% to Healthcare and Life Sciences, 7% to education, 5% to professional and commercial services and 5% to agriculture.
- About 49% startups are from Tier II & Tier III.
- The vision for new India was envisioned by PM Modi during the 15th August 2015 speech.
- The program to lay out an action plan to build a strong ecosystem for nurturing innovation and startups in the country was laid on January 16, 2016.
- By 2022, the action plan has guided India to become the 3rd largest ecosystem.