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India emerges as global innovation hub, builds up 61,000 startups since 2016

The DPIIT has recognized more than 61,000 startups as on date and represents 55 industries, spread across 633 districts, said a senior officer of the Ministry of Commerce and Industry.

Statesman News Service | New Delhi |

India is emerging as a global innovation hub and building up the world’s third-largest startup ecosystem, said the Department for Promotion of Industry and Internal Trade (DPIIT) here on Sunday.

The DPIIT has recognized more than 61,000 startups as on date and represents 55 industries, spread across 633 districts, said a senior officer of the Ministry of Commerce and Industry. It has created over 6 lakh jobs since 2016.

While 45 per cent of the startups are from Tier-2 and Tier-3 cities, 45 per cent of them are represented by women entrepreneurs. Startups have the potential to accelerate India’s integration into global value chains and create global impact, the Ministry said.