Income tax benefits granted to 2,975 recognised startups: DPIIT
Jan 15, 2024
New Delhi [India], January 15 : The Department for Promotion of Industry and Internal Trade (DPIIT) had recognised 1,17,254 startups under Startup India till December 31 last year, with 2,975 of them granted income tax exemptions, a senior official said on Monday.
DPIIT Joint Secretary Sanjiv highlighted that after benefiting from income tax exemptions, the growth in startups, rose from 1,100 in March 2023 to 2,975 by the year-end.
"Today, India is the world's third-largest start-up ecosystem. Around 1,17,000 start-ups are in India this year. There has been a 32 per cent increase in start-ups. Eligible start-ups are getting certain relief from income tax. Currently, 2,957 start-ups are getting this benefit," DPIIT Joint Secretary said.
The States' Startup Ranking, set to be unveiled on National Startup Day, January 16, 2024, is a comprehensive assessment of the efforts made by Indian states and Union Territories to create an ecosystem favourable for startup development.
The ranking serves as a valuable tool for shaping policies and practices that accelerate the overall growth of the startup landscape.
Additionally, Union Commerce Minister Piyush Goyal will hold a closed-door roundtable meeting with Unicorn founders on January 17, discussing the growth trajectory of the Indian startup ecosystem and its international impact.
