Economic Survey 2024-25: Govt. recognizes 1.25 Lakh Start-Ups in FY 23-24

The Economic Survey 2023-24, presented by Finance Minister Nirmala Sitharaman, highlights significant progress in India’s startup ecosystem and innovation landscape. The number of DPIIT-recognized startups surged to over 1.25 lakh in FY24 from 300 in 2016, with notable growth in patents and registered designs. The survey emphasizes advancements in industrial R&D, with India ranking top globally in domestic market scale on the Global Innovation Index. Additionally, the government plans to establish the Anusandhan National Research Foundation with an investment of ₹50,000 crore to enhance strategic scientific research. Over 45% of startups have emerged from Tier 2 and Tier 3 cities.