Economic Survey 2021: Start-ups created 4.7 lakh jobs till December

India is now home to 38 unicorns, with at least 12 startups getting added to the list in 2020, says the survey.

January 29, 2021 / 04:01 PM IST
Representative image (PC- MoneyControl.Com)

Representative image (PC- MoneyControl.Com)

More than 4.7 lakh jobs were reported by startups in the country till December 2020, the government's annual pre-budget Economic Survey said on January 29.

The government recognised 41,061 startups out of which around 39,000 startups created these job opportunities. The survey did not specify the names of the companies or sectors that reported these jobs.

It said the country is now home to 38 unicorns, with at least 12 startups getting added to the list last year. The US and China have 243 and 227 companies that are worth more than a billion dollar.

The survey also said SIDBI committed Rs 4,326.95 crore to 60 SEBI registered Alternative Investment Funds (AIFs) from the fund of funds for startups (FFS) which has a corpus of Rs. 10,000 crores, as of December 1.

These funds have raised a corpus fund of Rs 31,598 crores. A sum of Rs 1,270.46 crores have been drawn from the FFS and Rs 4,509.16 crores have been invested into 384 startups

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The fund of funds was announced by the government as part of its Startup India Action Plan in 2016.

According to the survey, the government has taken multiple measures to promote startups in the country. For instance, till November 2020,  319 startups were also granted income tax exemptions.
Priyanka Sahay
first published: Jan 29, 2021 04:01 pm

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