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Recognised startups created 1.7 lakh jobs in 2020-21: Govt

Source | economictimes.indiatimes.com | Kirtika Suneja, ET Bureau

The government on Thursday said that about 1.7 lakh jobs were created by recognized startups in 2020-21.

As on June 3, 50,000 startups across have been recognized as startups by the Department for Promotion of Industry and Internal Trade (DPIIT) with most being in the food processing, product development, application development, IT consulting, and business support services sector, the commerce and industry ministry said in a statement.

“As on June 3, 2021, 50,000 startups across have been recognized as startups by DPIIT, of which 19,896 have been recognized since April 1, 2020,” the commerce and industry ministry said in a statement, adding that it took only 180 days to add the last 10,000 startups, as compared to 808 days for the first 10,000 at the beginning of the initiative.

As per the statement, 743 startups were recognized in 2016-17, in the first year of the initiative, which has now increased exponentially to over 16,000 startups being recognized in 2020-21.

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Source
economictimes.indiatimes.com
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