India in its 75th year of Independence is now home to as many as 75,000 startups, 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 startup ecosystem so far, which has been a 110 per cent yearly increase over the last six years.
In a tweet, 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 startups 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 startups 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 startups were recognized in 808 days, the latest 10,000 were achieved in only 156 days.
"With more than 80 Startups getting recognized per day- highest rate in the world, the future of the startup culture is very promising and encouraging," the statement said.
Goyal had recently said the country aspires to become the largest startup ecosystem in the world.
On another occasion, Goyal had appealed to startups to get incorporated and listed in India and not leave the country "just for a few dollars more".
Out of the total recognized startups, 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.