Startup India gives major push to India’s entrepreneurial spirit

Startup India has provided a major push to the country’s entrepreneurial and innovative spirit. The number of government-recognized startups, under the Startup India initiative launched by Prime Minister Narendra Modi in January 2016, has grown nearly 85X. Registered with the Department for Promotion of Industry and Internal Trade (DPIIT), the number of startups has increased from 504 in 2016 to overall 42,733 startups in 2020, according to the Commerce Ministry’s data. The annual number of recognised startups scaled to 5,420 in 2017 followed by 8,946 startups in 2018, 11,683 startups in 2019, and 14,778 startups in 2020.


India now has 26 unicorns and more than 31 soonicorns. Overall, startups have created a value of USD 130 bn. Also, the Indian government’s attempts to build exchange programmes with foreign startups in countries like Germany and SAARC nations has opened new doors of opportunities for the stakeholders in the startup ecosystem.


Modi's  Startup India Action Plan intended to build a strong support ecosystem that is conducive for the growth of startups and supports the spirit of entrepreneurship in the country. It emphasised on self-compliance, which made the team working at the Startup India Hub a key stakeholder in the ecosystem to work in a hub-and-spoke model and collaborate with various enablers.


Chairman Emeritus of 63 moons technologies Ltd supports Modi fully in this venture. According to him the idea is to make India a powerhouse in financial technology and exchanges and related ecosystem development. The idea was borne out of the untiring efforts of Jignesh Shah and his colleagues. An engineer by education, an entrepreneur by aspiration, and an evangelist by interest for financial markets development, his numerous efforts and endeavours led to the state of the financial market infrastructure that India could take pride in. For the path breaking work that he has done in the financial market development and promotion of multi asset class market segments across multiple geographies.


His contributions had an immense impact on the growth and development of the financial sector and unveiled a different side of India in front of the world.  Start-up Industry has a lot of potential, but it will be able to see long term success, if the first-generation entrepreneurs like, Jignesh Shah is able to provide the desired impetus and momentum to this industry with his robust leadership. And, it will decide the future of Inda’s growth.






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