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Business Standard
a day ago
- Business
- Business Standard
Govt-recognised startup count crosses 180K as of June 30: Jitin Prasada
The government has recognised more than 180,000 firms as startups as on June 30, 2025, Parliament was informed on Tuesday. The recognised startups are eligible for a number of fiscal incentives, including income tax benefit announced under Startup India action plan. "Since the launch of the Startup India initiative, number of entities recognised as startups by Department for Promotion of Industry and Internal Trade (DPIIT) has increased from around 500 in 2016 to 180,683 as on 30th June 2025," Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha. Under Startup India initiative, the government is implementing flagship schemes, Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) to provide funding opportunities and support startups at various stages of their business cycle. He added that Alternative Investment Funds (AIFs) supported under the FFS have invested Rs 23,679 crore in 1,282 startups as on June 30 this year. Prasada also said SISFS provides financial assistance to seed stage startups through incubators. The incubators supported under the scheme have selected 2,942 startups for a total approved funding of Rs 522.42 crore as on June 30. Further under the CGSS, as on June 30, 289 loans amounting to Rs 667.85 crore have been guaranteed for startup borrowers. In a separate reply, the minister said GI (geographical indication) tag applications for 659 products are pending before the office of geographical indications registry. Till August 1 this year, GI tag has been granted to 697 products. Of this, 658 products are from India and 39 are from foreign countries. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
News18
a day ago
- Business
- News18
Govt-recognised startup count crosses 1.8 lakh as on June 30
Agency: PTI New Delhi, Aug 12 (PTI) The government has recognised more than 1.8 lakh firms as startups as on June 30, 2025, Parliament was informed on Tuesday. The recognised startups are eligible for a number of fiscal incentives, including income tax benefit announced under Startup India action plan. 'Since the launch of the Startup India initiative, number of entities recognised as startups by Department for Promotion of Industry and Internal Trade (DPIIT) has increased from around 500 in 2016 to 1,80,683 as on 30th June 2025," Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha. Under Startup India initiative, the government is implementing flagship schemes, Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) to provide funding opportunities and support startups at various stages of their business cycle. He added that Alternative Investment Funds (AIFs) supported under the FFS have invested Rs 23,679 crore in 1,282 startups as on June 30 this year. Prasada also said SISFS provides financial assistance to seed stage startups through incubators. The incubators supported under the scheme have selected 2,942 startups for a total approved funding of Rs 522.42 crore as on June 30. Further under the CGSS, as on June 30, 289 loans amounting to Rs 667.85 crore have been guaranteed for startup borrowers. In a separate reply, the minister said GI (geographical indication) tag applications for 659 products are pending before the office of geographical indications registry. Till August 1 this year, GI tag has been granted to 697 products. Of this, 658 products are from India and 39 are from foreign countries. PTI RR TRB (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 12, 2025, 15:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India.com
25-07-2025
- Business
- India.com
Over Rs 11,606 Crore Booster To Nurture Startup Ecosystem Via 3 Schemes: Minister
New Delhi: The government on Friday said that a net commitment of Rs 9,994 crore has been made to 141 Alternative Investment Funds (AIFs) supported under the Fund of Funds for Startups (FFS) scheme (till June 30), as it aims to build a strong ecosystem for nurturing innovation. Under the 'Startup India' initiative, the government is implementing three flagship schemes -- FFS, Startup India Seed Fund Scheme (SISFS), and Credit Guarantee Scheme for Startups (CGSS) to support startups at various stages of their business cycle. FFS has been established to catalyse venture capital investments and is operationalised by the Small Industries Development Bank of India (SIDBI), which provides capital to Securities and Exchange Board of India (SEBI)-registered AIFs, which in turn, invest in startups, said Minister of State for Commerce and Industry, Jitin Prasada, in a written reply to a question in the Rajya Sabha. SISFS provides financial assistance to seed-stage startups through incubators. Rs 945 crore have been approved to 219 selected incubators (as of June 30), the minister said. CGSS, implemented to enable collateral-free loans to startups through eligible financial institutions, is operationalised by the National Credit Guarantee Trustee Company (NCGTC) Limited. "As on June 30, 2025, 289 loans amounting to Rs. 667.85 crore have been guaranteed for startup borrowers," said Prasada. As per the Ministry of Skill Development and Entrepreneurship (MSDE), the Project 'Swavalambini' is being implemented through autonomous institutes, namely the National Institute for Entrepreneurship and Small Business Development (NIESBUD), Noida and Indian Institute of Entrepreneurship (IIE), Guwahati, in collaboration with NITI Aayog and its Women Entrepreneurship Platform (WEP). The project includes Entrepreneurship Awareness Training and Entrepreneurship Development Training for students, as well as a Faculty Development Programme (FDP) for capacity building of faculty members. "As on June 30, 2025, Entrepreneurship Awareness Programmes have been organised for 591 students and FDPs have been completed for 43 faculty members of Higher Education Institutions (HEIs)," the minister said.
Hans India
06-06-2025
- Business
- Hans India
India now has 1.76 lakh registered startups, 118 unicorns: FM Sitharaman
New Delhi: The number of registered startups has reached 1.76 lakh in the last 11 years, with 118 unicorns (startups with $1 billion valuation and above), thus fueling youth entrepreneurship, Finance Minister Nirmala Sitharaman said on Friday. In a post on social media platform X, the Finance Minister said that "youth in India are building startups and creating jobs". This is "a glimpse of the work done for the youth in the last 11 years under the guidance of Prime Minister Narendra Modi", she posted. Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said in a separate X post that in the last 11 years, seven new IITs have been opened, along with eight new IIMs and 16 new AIIMS. "1.6 crore+ youth trained under PMKVY (Pradhan Mantri Kaushal Vikas Yojana) and 17.6 lakh+ direct jobs created from 1.6 lakh startups. Nearly 30,000 vocational education schools established, with more than 30 lakh students enrolled," the minister said. In the last 11 years, "52.5+ crore collateral free Mudra loans disbursed to small businesses and up to Rs 33 crore loans worth Rs 1 lakh+ crore given. Under the PM Internship Scheme, internship opportunities were provided to 1 crore youth in the top 500 companies. About 490 new universities were established to spread higher education in every corner of the country", Puri mentioned. Last month, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry, notified the expansion of the Credit Guarantee Scheme for Startups (CGSS), which increases the ceiling on guarantee cover per borrower from Rs 10 crore to Rs 20 crore. According to the government, the extent of guarantee cover provided has also been increased to 85 per cent of the amount in default for loan amounts up to Rs 10 crore and 75 per cent of the amount in default for loan amounts exceeding Rs 10 crore. In line with PM Modi's vision for transforming India into an innovation-driven self-reliant economy, the notified expansions aim to address the financing needs of innovation-driven startups. The expanded scheme will further reduce the perceived risks associated with lending to startups in established financial institutions, enabling greater financial flow and runway for startups to undertake research and development experimentation, and create cutting-edge innovation and technologies.
Business Standard
20-05-2025
- Business
- Business Standard
IndusInd Bank signs MoU with Department for Promotion of Industry and Internal Trade
IndusInd Bank today announced that it has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to nurture innovation and entrepreneurial growth in India. This strategic partnership brings together the strengths of DPIIT's Startup India initiative and IndusInd Bank's financial expertise to create opportunities for startups, innovators, and entrepreneurs nationwide. The collaboration offers start-ups, innovators and entrepreneur tailored banking solutions, including cash management, working capital, and credit facilities. A key feature is enhanced support under the Credit Guarantee Scheme for Startups (CGSS), allowing collateral-free loans with a raised guarantee cover of up to ₹20 crore for DPIIT-recognised start-ups. Additionally, the guarantee fees for debt funding in 27 Champion Sectors has been reduced to further ease access to credit. These measures help start-ups mobilise capital and invest in advanced technologies and manufacturing.
