National Startup Day: India home to 118k recognised start-ups; Gujarat, Karnataka, Kerala, Tamil Nadu top list  

On the occasion of National Startup Day, the Department for Promotion of Industry and Internal Trade (DPIIT) has unveiled the latest rankings for states and union territories based on start-up initiatives. Gujarat, Karnataka, Kerala, and Tamil Nadu secure top spots, affirming their lead in the entrepreneurial landscape. 

Union Commerce, Industry, and Textile Minister Piyush Goyal announced the awards, which were in five segments such as best performers, top performers, leaders, aspiring leaders, and emerging ecosystems. States were classified into two segments based on their population for consideration in the aforementioned categories.  

In category A states (with population of more than 10 million), Gujarat, Karnataka, Kerala, and Tamil Nadu secured the top positions as best performers, while Maharashtra, Odisha, Punjab, Rajasthan, and Telangana emerged as top performers. Andhra Pradesh, Assam, Madhya Pradesh, Uttar Pradesh, and Uttarakhand were recognized as leaders, with Bihar and Haryana designated as aspiring leaders. Chhattisgarh, Delhi, and Jammu and Kashmir were identified as emerging ecosystems. 

In Category B states (with a population of less than 10 million), Himachal Pradesh claimed the top spot as the best performer, while Arunachal Pradesh and Meghalaya emerged as top performers. Goa, Manipur, and Tripura were recognized as leaders, with Andaman and Nicobar Islands and Nagaland designated as aspiring leaders. Chandigarh, Dadra and Nagar Haveli and Daman and Diu, Ladakh, Mizoram, Puducherry, and Sikkim were acknowledged as Emerging Ecosystems.  

As per data provided on the DPIIT website, India has 118,370 recognised start-ups while the government has provided income tax benefits to 2,975 recognised start-ups. According to DPIIT report, the geographical coverage of start-ups has increased six folds in the last seven years with presence in close to 670+ districts across the country. Close to 50% of the recognised start-ups are based out of Tier 2 and 3 cities. As of December 2023, India is home to a total of 112 unicorns with a total valuation of about Rs 30 lakh crore.  

DPIIT-recognised start-ups show robust growth, expanding over 35 per cent in the last two years across 57 sectors. In the past five years, women-led start-ups in India have increased by 4 per cent, with 49 per cent of DPIIT-recognized firms now featuring at least one woman director.  

In 2023, India saw the emergence of 950+ new tech start-ups, solidifying its position as the world's third-largest start-up ecosystem and Indian start-ups collectively garnered an $70+ billion in funding since 2019, according to a recent Zinnov report. 

Also Read: National Start-up Day: Despite funding winter, Indian start-up ecosystem can expect over $20 billion in dedicated funding, report says