14,000 new startups recognized in India, 20 times more than last 5 years
- ByStartupStory | February 21, 2022
According to the Economic Survey 2021-22, India has approximately 61,400 startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT), with at least 14,000 recognized during fiscal 2022. The survey is an annual economic report card that assesses the performance of many sectors and makes recommendations for future actions. It also includes a forecast for GDP growth.
According to the poll, there were at least one new company in each of India’s 555 districts, demonstrating that the number of startups in India has increased dramatically over the last six years, with the majority of them in the IT/knowledge-based industries.
According to the report, India has overtaken the United States and China as the world’s third-largest startup ecosystem. According to the poll, a total of 44 Indian firms earned unicorn status in 2021, bringing the total number of unicorn startups in India to 83, with the majority of them in the services sector.
The poll also revealed India’s growing space tech startup scene. According to the report, the number of startups in the area has climbed from 11 in 2019 to 47 in 2021. Delhi has recently supplanted Bengaluru as India’s startup hub. Between April 2019 and December 2021, over 5,000 recognized startups were added in Delhi, whereas 4,514 were added in Bengaluru. With 11,308 recognized startups, Maharashtra is the state with the most.
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