Gujarat was ranked the best state for startups in India, by the Department of Industrial Policy and Promotion, which falls under the Commerce Ministry. The DIPP Thursday announced rankings of states and Union Territories (UTs) for 2018 on the basis of the environment they’ve created for startups. Karnataka, Kerala, Odisha and Rajasthan were ranked as the other top performers.
The representative for Gujarat explained during the event today that the state has allocated an Rs 100 crore budget for startups and provided assistance to at least 200 projects.
The rankings are based on steps taken by the states and UTs to create a conducive environment for startups and promote entrepreneurs. The exercise was carried out by the Department of Industrial Policy and Promotion (DIPP), which falls under the ambit of the Commerce Ministry.
The DIPP examined 14,565 startups across the country. Maharashtra has the largest number of startups (2,787), followed by Karnataka (2,107), Delhi (1,949), Uttar Pradesh (1,201), Haryana (765) and Gujarat (764). These companies offer services in various sectors including IT, healthcare, education, food, agriculture, renewable energy, and technology hardware.
The government launched ‘Startup India’ in January 2016 to give impetus to entrepreneurs in the country. Under the initiative, it promised tax exemptions for startups for three years and quick patent registrations among other things.