9 years of Start-up India…got 'booster dose' during Covid period, raised so many billion dollars between 2016 and 2024

Obnews Desk: Exactly 9 years ago, i.e. in the year 2016, the Modi government at the Center had started Start-up India. 9 years of which have been completed. How far has 'Start-up India' reached in these years? What position has it achieved in the world? How has it changed the face of India? Let us know.

When PM Modi started Start-up India in 2016, people were skeptical about its success. But its result was visible during the crisis during Covid-19. When people were losing their jobs due to Covid, Start-up India emerged as a troubleshooter. People who lost their jobs started startups, achieved success and also opened employment opportunities.

Tremendous changes in a decade

Looking back after 9 years, there has been tremendous change and progress in India's startup landscape in the last decade. The sector has grown rapidly due to reforms like Startup India initiative, removal of angel tax and simplification of reverse flipping rules. Today India has become the third largest country in the world with 1.59 lakh DPIIT-recognized startups and 110 unicorns.

Started on 16 January 2016

Startup India was started on 16 January 2016. After this, many important steps were taken to promote innovation and entrepreneurship. In 2016, a provision of Rs 10,000 crore was made under the Fund of Funds and Atal Innovation Mission was launched. Removal of angel tax in 2024 and relaxation of reverse flipping rules will further strengthen the sector.

Emphasis on women entrepreneurship and employment

As of October 31, 2024, 73,151 recognized startups have at least one woman director, showing the rise of women entrepreneurship. Additionally, startups have created more than 16.6 lakh direct jobs since 2016. Indian startups have raised $155 billion between 2016 and 2024. During this, ONDC was launched and the draft of National Deep Tech Startup Policy was presented to promote e-commerce.

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vision towards the future

In India, 31 out of 36 states and union territories now have their own startup policies. Atal Innovation Mission will be continued with a budget of Rs 2,750 crore till 2028. It is clear that the Startup India initiative has given India a prominent identity globally, and will lead the economic and social transformation of the region in the times to come.