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There Were 84,012 Startups In End November: Piyush Goyal
Piyush Goyal, Union Minister of India (commerce and Industry) tells in the Loksabha that startups in India are doing better than the rest of the world
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“The success rates of startups in India is relatively higher than the rest of the world and there were 84 thousand startups in the country at the end of November,” said Union Minister Piyush Goyal.
In the Loksabha during the question hour, he mentioned that Startups are prone to failures is a very high probability. However, the success rate of startups in India is relatively higher than in the rest of the world.
The number of recognised startups has increased from 452 in 2016 to 84,012 as on November 30, 2022.
The Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) provide support to startups at different stages of their business cycle.
The government of India launched the Startup India initiative in 2016 to boost the startup ecosystem in India.