As many as 92,683 entities have been recognised as startups by the Ministry of Commerce and Industry as on February 28 this year, Parliament was informed on Wednesday. These startups are eligible for availing tax and non-tax benefits under the Startup India initiative.
The government, with an intent to build a strong ecosystem for nurturing innovation and startups in the country, launched Startup India initiative on January 16, 2016, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha.
“Sustained government efforts in this direction have resulted in increasing the number of recognised startups from 442 in 2016 to 92,683 in 2023 (as on February 28, 2023),” he said.
Over 7,000 recognised startups are in sectors like construction, house-hold services, logistics, real estate and transportation.
Highest number of recognised startups are from IT sector (11,099). It was followed by healthcare and lifesciences (8,691), education (5,962), agri (4,653), and food and beverages (4,523). PTI