This Programme is Very Close to My Heart: PM on National Startup Day 2025 India's journey as a startup hub is a testament to the visions of the past, hard work of the present, and innovations for the future. National Startup Day 2025, serving as the spirit of entrepreneurship, now deeply ingrained in India's cultural fabric
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
India has emerged as a global powerhouse of innovation and entrepreneurship, a transformation celebrated annually on National Startup Day. On January 16, 2025, the nation paused to reflect on the remarkable growth of its startup ecosystem, which now boasts over 1.59 lakh DPIIT-recognised startups, making it the third-largest ecosystem in the world, as per a report by PIB. With over 100 unicorns and an expanding presence in global markets, Indian startups are redefining innovation.
The Prime Minister of India, Narendra Modi, took to social media to mark the occasion. He posted on X, "Today, we mark #9YearsOfStartupIndia, a landmark initiative that has redefined innovation, entrepreneurship and growth. This is a programme very close to my heart, as it has emerged as a powerful way of furthering youth empowerment."
The Startup India initiative, launched in 2016, has been pivotal in this transformation, fostering an entrepreneurial spirit among India's youth. As per the report, in just nine years, the number of recognised startups has grown from 500 in 2016 to an impressive 1,59,157 as of January 15, 2025.
A catalyst for economic growth
Startups have not only transformed industries but also contributed significantly to employment generation. By the end of October 2024, DPIIT-recognised startups had created over 16.6 lakh direct jobs, with the IT services industry leading the way, followed by healthcare & lifesciences and professional & commercial services.
Prime Minister Modi emphasized the government's commitment to supporting startups and said, "As far as the Government is concerned, we have left no stone unturned to encourage a culture of StartUps. Our policies have focused on 'Ease of Doing Business' greater access to resources and, most importantly, supporting them at every juncture."
The government's flagship schemes, including the Startup India Seed Fund Scheme (SISFS) and the Credit Guarantee Scheme for Startups (CGSS), have enabled startups to scale and innovate. These initiatives have particularly benefited startups in smaller cities, broadening the entrepreneurial landscape beyond metropolitan hubs like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR.
A standout achievement of India's startup journey is the rise of women entrepreneurs. As of October 2024, as many as 73,151 recognised startups had at least one woman director. This marks a significant step towards inclusivity in the entrepreneurial ecosystem, showcasing India's progress in bridging gender disparities in business leadership. Some examples of women co-founded startups are Nykaa, founded by Falguni Naya; MobiKwik, co-founded by Upasana Taku; Kalaari Capital, founded by Vani Kola; and the list goes on.
Sandiip Bhammer, managing partner of Green Frontier Capital, highlighted the ecosystem's inclusivity and potential: "Sectors such as climate tech, fintech and health tech are thriving, in particular, driven by a digitizing economy, skilled talent and global collaborations. Furthermore, the rise of incubators, accelerators and access to international capital is also enabling efficient scaling."
Transforming challenges into opportunities
Indian startups are uniquely positioned to tackle local challenges and provide scalable solutions. Sectors like fintech, edtech, health-tech, and e-commerce have emerged as frontrunners, addressing critical issues while gaining global recognition.
Anand Agrawal, co-founder & CPTO of Credgenics, reflected on the ecosystem's achievements: "As we look ahead to 2025, the Indian startup ecosystem is expected to continue transformation, fueled by global expansion, talent development, and a relentless focus on innovation. This momentum ensures that startups will remain key contributors to India's economic progress and global standing in the years to come."
The resilience of Indian startups has been especially evident amidst global uncertainties. Many have pivoted towards sustainable growth and customer-centric solutions, ensuring long-term profitability.
Rohan Bhargava, Co-Founder of CashKaro and EarnKaro, noted: "In just eight years, the country transformed from a budding hub with 450 startups in 2016 to hosting over 1.28 lakh startups by April 2024. Despite global uncertainties, Indian startups exhibit resilience, prioritizing sustainable growth, profitability, and customer-centric solutions."
Starting up the next generation of India
As the ecosystem matures, startups are expected to leverage advancements in digital infrastructure and a growing talent pool. Increased global funding and an emphasis on sustainability will further drive growth.
Prime Minister Modi's message to young entrepreneurs captured the optimism of this moment on X, "I compliment every youngster in the StartUp world and urge more youngsters to pursue this. It's my assurance you won't be disappointed!"
India's journey as a startup hub is a testament to the visions of the past, hard work of the present, and innovations for the future. National Startup Day 2025, serving as the spirit of entrepreneurship, now deeply ingrained in India's cultural fabric, is set to propel the nation to new heights, contributing significantly to the vision of Aatmanirbhar Bharat.
