Northeast India Accounts Only 0.1% of India’s Total 14,565 Recognized Startups

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Northeast India that comprises eight states in north eastern region of India — Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura, accounts for exactly 0.144% of total 14,565 startups recognized under Start-up India initiative of Indian government, according to the data provided by the Ministry of Commerce and Industry.

While Sikkim has the country’s lowest number of just 1 startup, Manipur with 11 startups has highest number in Northeast region and rest of the 6 North-East states have less than 10 startups.

Goa, Jammu and Kashmir, Chandigarh and Himachal Pradesh are among those that have less than 100 start-ups.

Having huge geographies and diverse culture as well as languages, over 60% of the startups out of 14,565 startups recognized under Start-up India initiatives in India are concentrated in five States –

  1. Maharashtra — 2,787
  2. Karnataka — 2,107
  3. Delhi — 1,949
  4. Uttar Pradesh — 1,201
  5. Telangana — 824

The total number of applications received for recognition under Startup India initiative is 19,611, of which 14,565 applications have been approved, according to the data provided by the Ministry of Commerce and Industry.

In a reply to the question in Lok Sabha, the Ministry further said, “The data of cost involved and manpower engaged under these initiatives across Central government ministries and various State governments is not centrally compiled,” stated the Ministry in a reply to the question in Lok Sabha. There are no provisions of loans under Make in India and Start-up India initiatives.”

Launched in January 2016 by the Prime Minister Narendra Modi, Start-up India is a flagship initiative of the government set-up under Invest India and is intended to build a strong ecosystem for nurturing innovation and start-ups in the country that will drive sustainable economic growth and generate large scale employment opportunities.

Existing industries’ regulations are for traditional industries and as they do not justify its purpose for new-age startup ventures working in emerging technologies like Artificial Intelligence, Internet of Things or even e-commerce for that matter these regulation become almost irrelevant. The Ministry is thus reviewing these regulations and some of them are either scrapped or modified in order to facilitate the booming ecosystem of the country which will foster and encourage startups to take root.

Source: IndianWeb2

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