Key facts
- India's startup ecosystem has grown to approximately 2.3 lakh startups.
- These startups have generated nearly 25 lakh jobs.
- India is now the third-largest startup ecosystem globally.
- Over half of India's startups are based in Tier-2 and Tier-3 cities.
- The government has established a Rs 1 lakh crore RDI Fund for research and innovation.
Union Minister Jitendra Singh announced on Saturday that India's startup ecosystem has grown to approximately 2.3 lakh startups, generating nearly 25 lakh jobs and establishing India as the world's third-largest startup hub. Speaking at the RISE Conclave 2026, Singh highlighted the significant growth from just 350-400 startups in 2014, attributing the momentum to Prime Minister Narendra Modi's emphasis and subsequent government initiatives like Startup India.
The minister noted that over half of these startups now originate from Tier-2 and Tier-3 cities, challenging the notion that entrepreneurship is confined to major tech hubs. He emphasized the government's role in providing technological and handholding support to entrepreneurs, stressing the importance of continuous innovation and industry linkages for startup sustainability.
The RISE Conclave, organized by the Ministry of Science and Technology, aims to foster research, innovation, and enterprise. Singh pointed to emerging opportunities in sectors such as space, biotechnology, and deep-ocean exploration as key contributors to India's goal of becoming a developed nation by 2047. The Indian space economy, currently valued at $9 billion, is projected to expand significantly in the coming decade.
Singh also mentioned government efforts to build future-ready capabilities through missions like the National Quantum Mission and IndiaAI Mission, alongside a substantial increase in defence exports. A Rs 1 lakh crore Research, Development and Innovation (RDI) Fund has been created to boost private sector participation in R&D.
Earlier, ISRO Chairman V Narayanan discussed collaborations on advanced lunar lander technology and space medicine research, acknowledging the crucial support from CSIR laboratories in India's space program.