The ecosystem of Indian startups is emerging from the urban environment and they are thriving in small towns. This can be seen from the number of startups registered with the Department for Promotion of Industry and Internal Trade (DPIIT). Of the more than 1.15 lakh startups registered with this department by December 31, 2023, 50 percent are active in Tier-2 and Tier-3 cities.
2,324 startups participated in the 4th edition of National Startup Awards (NSA) organized by DPIIT. However, this number was less than the 2,667 applications received in the previous edition of 2022.
The special thing is that this time about 58 percent of the total applications received were from Tier-2 and Tier-3 cities.
Gujarat, Karnataka, Kerala and Tamil Nadu are leading states that have developed the best startup ecosystem for Indian entrepreneurs.
Union Commerce and Industry Minister Piyush Goyal said, ‘India has emerged as a global center for innovation and this sector has achieved many achievements in the year 2023. During this period, 1.15 lakh startups have been registered with DPIIT. Not only this, more than 12 lakh jobs have been created due to these startups.
DPIIT had started the National Startup Award for startups in 2020, so that this sector can be promoted more and more by providing respect and recognition. Goyal said that today startups are considered the backbone of the Indian economy, which will prove to be very helpful in achieving the goal of self-reliant India.
First Published – January 16, 2024 | 11:30 PM IST
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