The success rate of startups in India is relatively higher than the rest of the world and there were 84,012 recognised startups in the country at the end of November, Union Minister Piyush Goyal said today.
To boost the startup ecosystem, the government launched the Startup India initiative on January 16, 2016, and an action plan was also put in place. “Startups are prone to failures is a very high probability. Though I must say, the success rate of startups in India is relatively higher than the rest of the world…,” the Minister told the Lok Sabha during the Question Hour.
The number of recognised startups has increased from 452 in 2016 to 84,012 as on November 30, 2022, the Minister said.