Indian startup ecosystem values almost Rs 3 lakh crore, says Union Commerce and Industry Minister


By MYBRANDBOOK


Indian startup ecosystem values almost Rs 3 lakh crore, says Union Commerce and Industry Minister

The Union Commerce and Industry Minister, Piyush Goyal said that the valuation of the startup ecosystem is close to Rs 3 lakh crore.

 

''...the fact that we are probably 110-plus unicorns, about 75 or so soonicorns which are on their way to become unicorns, is truly a remarkable achievement. The last time we did a valuation of our startup ecosystem, it came to about USD 368 billion, that's nearly three lakh crore rupees,'' he said.

 

As per the minister, more than 80,000 startups in the country are registered with the industry ministry.

 

''We have about over a million people directly engaged by them. Must be many million more who are indirectly involved in the entire startup ecosystem. Over a 110 unicorns,'' he said.

 

He mentioned government initiatives to promote startups. The government is also strengthening the patent offices and everything is going to be online, he said.

 

Goyal was speaking at an interaction with students, faculty and alumni of Indian Institute of Foreign Trade (IIFT), National Institute of Fashion Technology (NIFT), National Institute of Design (NID) and others.

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