DPIIT-Recognised Startups Create 16+ Lakh Jobs , Reports Piyush Goyal

Startups registered under the Department for Promotion of Industry and Internal Trade (DPIIT) have generated over 16.6 lakh direct jobs across more than 55 industries as of October 31, 2024, according to Union Minister Piyush Goyal’s statement in the Rajya Sabha. Currently, 1.5 lakh startups are enrolled under DPIIT’s Startup India programme.

The IT services sector accounted for the highest job creation with 2.04 lakh jobs, followed by healthcare and life sciences with 1.47 lakh jobs. Other notable contributors include professional and commercial services (94,060 jobs), education (90,414 jobs), construction (88,702 jobs), food and beverages (88,468 jobs), and human resources (87,983 jobs).  

The Commerce Ministry’s 2023 annual review highlighted that, on average, each recognised startup under the Startup India programme creates 11 jobs.  

BHASKAR Platform Launched to Boost Startup Ecosystem

The government recently introduced the Bharat Startup Knowledge Access Registry (BHASKAR) under the Startup India programme. This digital platform aims to connect startups with investors, mentors, service providers, and government bodies, fostering collaboration and innovation within the Indian startup ecosystem.  

While startups have been a significant source of job creation, job cuts in the Indian startup sector were lower in the first half of 2024 compared to 2023. During January to June 2024, nearly 11,250 jobs were cut, a reduction from 21,000 in the first half and 15,000 in the second half of 2023.

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