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Startups Drive Job Creation in India: Over 16.6 Lakh Jobs Generated Since 2016

Staff

January 16, 2025

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India's startup ecosystem continues to thrive, contributing significantly to job creation and economic growth. According to data released by the government on Wednesday, startups in India have generated over 16.6 lakh jobs between 2016 and October 2024. This remarkable achievement reinforces India's position as the third-largest startup ecosystem globally.

As of January 15, 2025, more than 1.59 lakh startups have been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), highlighting the robust entrepreneurial spirit across the country.

The Ministry of Commerce and Industry further detailed the sector-wise distribution of jobs. The IT services industry led the charge, creating 2.04 lakh jobs, showcasing the sector's dominance in the digital era. Healthcare and life sciences followed with 1.47 lakh jobs, underscoring the growing emphasis on health-tech innovations. Professional and commercial services contributed around 94,000 jobs, reflecting the rising demand for specialised services in India's evolving economy.

The government's focus on fostering a startup-friendly environment through initiatives such as Startup India and reduced compliance burdens has played a pivotal role in this growth. The ecosystem is also supported by a surge in venture capital investments and an increasing number of unicorns emerging from India.

Industry experts believe the momentum will continue as startups expand into Tier 2 and Tier 3 cities, tapping into a vast pool of untapped talent and creating more employment opportunities.

India's startup journey serves as an inspiring testament to the country's innovative capabilities and its potential to shape a sustainable and inclusive future.

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