Start-ups employ over 3.37 lakh in five years, mostly in IT sector

The number of startups set up in education sector was more than in Artificial Intelligence (AI), Internet of Things (IoT) and Augmented Reality and Virtual Reality (AI/VR), nanotechnology and robotics all combined.

In the financial year 2017-18, registered start-ups have employed as many as 81,653 persons, which grew to 95,350 in FY 281019. Representational Image/ Pixabay.com

A total of 28,979 startups have been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) in the last five years and a majority of them are from the IT sector. Often termed an ’employment generator’, the startups in the past five years have recruited over 3,37,335 candidates, Minister of Commerce and Industry Piyush Goyal informed the Parliament on Wednesday.

As per the minister, in the financial year 2017-18, registered start-ups have employed as many as 81,653 persons, which grew to 95,350 in FY 281019, while 1,60,322 have been employed in the financial year 2019-20 till March 1.

Data shared in the Parliament. (Graphic: Gargi Singh)

The maximum number of startups have come up from Maharashtra (5,477) followed by Karnataka (4,206), Delhi (3,740), Uttar Pradesh (2,342), Haryana (1,635), Telangana (1,609), Gujarat (1,555) and Tamil Nadu (1,509). The government allows certain tax and non-tax benefits under the Startup India programme launched in 2016.

State-wise start up data

A majority of the start-ups have come up in the Information Technology (IT) sector. Among the emerging sectors are education, accounting for more startups than in Artificial Intelligence (AI), Internet of Things (IoT) and Augmented Reality and Virtual Reality (AI/VR), nanotechnology and robotics combined. This is despite IoT, AI being the buzzwords in the past years.

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