7.46 lakh jobs created by Indian start up ecosystem; Hyd highest IT recruiter

Hyderabad: India has achieved a milestone of 75,000 startups being recognized in the country, announced Union Minister for Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textile Piyush Goyal on 3 July. These numbers tell the power of a vision- a vision to see innovation & enterprise drive growth, he said.

Out of the total recognized startups, around 12% cater to IT services, 9% to healthcare and life sciences, 7% to education, 5% to professional and commercial services, and 5% to agriculture. According to the Ministry of Commerce and Industry data, 7.46 lakh jobs have been created by the Indian startup ecosystem, so far, which has been a 110% annual increase over the last 6 years.

"The Department for Promotion of Industry and Internal Trade (DPIIT) has recognized more than 75,000 startups- a milestone that coincides with the 75th year of independence. As India celebrates Azadi ka Amrit Mahotsav, the Indian startup ecosystem continues to be fueled by innovation, enthusiasm, and entrepreneurial spirit," said Minister Goyal.

On 16th January 2016, a program was initiated to lay out an action plan to build a strong ecosystem for nurturing innovation and startups in the country. Minister Goyal said that 6 years hence, the action plan has successfully guided into making India the third largest startup ecosystem.

The Startup India program was primarily set up to provide an enabling environment for startups. It helps young entrepreneurs by providing funding to tax incentives, support on intellectual property rights to ease public procurement, and enables regulatory reforms to access international fests and events.

"The fact that about 49% of our startups are from Tier II & Tier III today is a validation of the tremendous potential of our country's youth," added Minister Goyal.

Hyderabad hired the most techies in 2022

Meanwhile, according to the Quess Staffing Report, Hyderabad's IT industry hired the most number of people, around 1,53,000 techies in the financial year 2022. Out of the total 4,50,000 recruitments in India, more than 1/3rd has been in Hyderabad. Bengaluru hired 1,48,500 techies and Mumbai 54,000. However Delhi NCR and tier 2 cities hired around 30,000 people.