An Analytical Review of India's Startup Ecosystem (2019-2023)

Abstract

India’s startup ecosystem has witnessed exponential growth over the past decade, positioning the country as the third-largest startup hub globally. As of December 2023, over 1.17 lakh startups have been recognized by the Department for Promotion of Industry and Internal Trade (DPIIT), generating more than 12.4 lakh direct jobs and expanding across 80% of India’s districts. This paper analyses DPIIT data from 2019 to 2023 to examine the geographical distribution of startups ecosystem, employment generation and Gender inclusivity initiatives in India.  The study explores the policy frameworks of top performing states contribution to the ecosystem maturity in these regions. By drawing comparisons with emerging states, the paper aims to offer actionable insights and policy recommendations to foster inclusive and balanced startup growth across India, aligning with the national vision of Viksit Bharat @2047.