Success Rate Of Indian Startups Is Higher Than Rest Of World: Piyush Goyal

Piyush Goyal, Union Minister of India commerce and Industry lauds the success of Indian startups' growth from the 2016 till now when the country is home to 108 unicorns

Trace the growth from the early times of startups in India when the Government of India launched the Startup India Mission on January 16, 2016. The number of recognised startups has increased from 452 in 2016 to 84,012 as on November 30, 2022.

The success rates of startups in India is relatively higher than the rest of the world and there were 84 thousand startups in the country at the end of November, said Piyush Goyal, Union Minister, according to the media reports.

The report also states that Goyal mentioned that the startups are prone to failures is a very high probability. However, the success rate of startups in India is relatively higher than in the rest of the world.

The Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS) and Credit Guarantee Scheme for Startups (CGSS) provide support to startups at different stages of their business cycle.

The government of India launched the Startup India initiative in 2016 to boost the startup ecosystem in India.

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