India in its 75th year of Independence is now home to as many as 75,000 start-ups, Union minister Piyush Goyal said on Wednesday.
The Commerce and Industry Ministry stated that an "impressive" 7.46 lakh jobs have been created by the Indian start-up ecosystem so far, which has been a 110 per cent yearly increase over the last six years.
In a tweet, the Commerce and Industry Minister Goyal said, "These numbers tell the power of a vision. A vision to see innovation & enterprise drive growth." "
India is now home to 75,000 start-ups in the 75th year of Independence and this is only the beginning, Goyal said in the tweet.
"The fact that about 49 per cent of our start-ups are from Tier II & Tier III today is a validation of the tremendous potential of our country's youth," an official statement said.
It also highlighted that while the initial 10,000 start-ups were recognised in 808 days, the latest 10,000 were achieved in only 156 days.
"With more than 80 start-ups getting recognised per day- highest rate in the world, the future of the start-up culture is very promising and encouraging," the statement said.
Goyal had recently said the country aspires to become the largest start-up ecosystem in the world.
On another occasion, Goyal had appealed to start-ups to get incorporated and listed in India and not leave the country "just for few dollars more".
Out of the total recognized start-ups, around 12 per cent cater to IT services, 9 per cent to healthcare and life sciences, 7 per cent to education, 5 per cent to professional and commercial services and 5 per cent to agriculture.