Gujarat, Kerala, Karnataka, and Tamil Nadu have emerged as the leading states in India’s startup ranking for 2022, recognizing their significant efforts in developing a conducive ecosystem for budding entrepreneurs. The rankings, released by Union Commerce Minister Piyush Goyal on Tuesday, categorize Maharashtra, Odisha, Punjab, Rajasthan, and Telangana as top performers in the startup sector.
The Department for Promotion of Industry and Internal Trade (DPIIT), a department under the Commerce Ministry, conducted the ranking, assessing states and union territories based on their initiatives to promote and nurture startups. The rankings include five categories: best performers, top performers, leaders, aspiring leaders, and emerging startup ecosystems.
In the upcoming discussions, Piyush Goyal is set to meet senior representatives from around 40 unicorn startups, including Lenskart, Zerodha, CarDekho, EasyMyTrip, Boat, and others. The discussions will focus on strategies to further promote sustainable growth within the sector, risks, and plans for domestic capital mobilization.
The DPIIT report reveals that a total of 33 states and union territories participated in the ranking exercise. The Startup India initiative, launched by Prime Minister Narendra Modi on January 16, 2016, aims to build a robust ecosystem fostering innovation, supporting startups, and encouraging investments in the country’s startup landscape.
Presently, over 117,000 startups are officially recognized by the government, making them eligible to seek specific tax incentives. The recognition and support of startups play a crucial role in India’s economic landscape, and the government continues to emphasize the importance of research, innovation, and new-age skills to shape the future of the country.
During the release of the startup ranking report, Piyush Goyal highlighted the role of startups in defining the nation’s journey toward development, particularly during the Amrit Kaal. He urged people of all age groups to participate in the startup ecosystem and contribute to research and innovation. Goyal emphasized that new-age skills, futuristic technology, artificial intelligence, and innovation will pave the way for India’s future.
The recognition of Gujarat, Kerala, Karnataka, and Tamil Nadu as the best performing states underscores the importance of state-level initiatives in creating an environment conducive to startup growth. These states have demonstrated a commitment to fostering innovation, supporting entrepreneurship, and contributing to the overall vibrancy of India’s startup ecosystem.
As the startup landscape continues to evolve, collaborative efforts between the government and the private sector, as exemplified by Startup India, will play a pivotal role in driving economic growth, creating jobs, and positioning India as a global hub for innovation and entrepreneurship.
