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.

Out of the total recognized startups, around 12 percent cater to IT services, 9 percent to Healthcare and Life Sciences, 7 percent to education, 5 percent to professional and commercial services, and 5 percent to agriculture. An impressive, 7.46 lakh jobs have been created by the Indian startup ecosystem, so far, which has been a 110 percent yearly increase over the last 6 years.

About 49 percent of our startups are from Tier II and Tier III, an official statement said.

During the Independence Day speech from the Red Fort on 15th August 2015, Prime Minister Narendra Modi envisioned a new India which taps on the entrepreneurial potential of its people.

On 16th January of the following year, the date which has now been declared National Startup Day, a program was initiated to lay out an action plan to build a strong ecosystem for nurturing innovation and startups in the country.

Six years hence, the action plan has successfully guided into making India the 3rd largest ecosystem.

It is also interesting to note that, while the initial ten thousand startups were recognized in 808 days, the latest ten thousand were achieved in only 156 days. With more than 80 Startups getting recognized per day- the highest rate in the world, the future of the startup culture is very promising and encouraging.

The Startup India program was primarily set up to provide an enabling environment for startups. Under the program, the government supported the startups by providing funding to tax incentives, from support on intellectual property rights to eased public procurement, from enabling regulatory reforms to access to international fests and events.