DPIIT's 2024 Report Card: How Was The Year for Indian Startups?

India's startup scene is booming, and the Department for Promotion of Industry and Internal Trade (DPIIT) is right in the thick of it. They've been a key player in turning India into a hotbed for new businesses, helping young companies get off the ground and creating jobs along the way. But DPIIT isn't just about startups; they're also working hard to make India a manufacturing powerhouse, improve how goods move around the country, and make it easier to do business here. TICE takes a look at their report card and what they accomplished in 2024.

Startup India: More Than Just a Buzzword

Remember when "Startup India" was just an idea back in 2016? Fast forward to today, and it's a full-blown movement.

DPIIT has been like a supportive parent, nurturing this ecosystem and helping turn innovative ideas into real businesses. By the end of 2024, they'd helped over 1.49 lakh startups get started, leading to 16 lakh new jobs. That's a lot of people with paychecks, thanks to new businesses!

And it's not just about the big cities. Almost half of these startups have a woman in charge, and half are based outside the major hubs, showing that this startup wave is reaching every corner of India.

Read More: SEBI's New Rules for SME IPOs: What's New For Startups & Investors?

Beyond Startups: DPIIT's Work Behind the Scenes

While startups are a big focus, DPIIT has a lot more on its plate.

Making Stuff in India: The PLI Push

The Production-Linked Incentive (PLI) scheme is like a booster shot for Indian manufacturing. Launched in 2020, it's all about encouraging companies to make things in India, and it's working! With the government putting in ₹1.97 lakh crore, companies have invested ₹1.46 lakh crore in areas like making phones, medicines, and clothes. This has led to a huge jump in production (worth ₹12.5 lakh crore) and exports (worth ₹4 lakh crore), creating 9.5 lakh jobs along the way.

Getting Things Moving: PM Gati Shakti

Imagine a super-smart map that shows everything about India's infrastructure – roads, railways, ports, the works. That's basically what PM Gati Shakti is. Launched in 2021, it helps the government plan better and make sure goods move smoothly across the country. With everyone from central ministries to state governments on board, they've already looked at 213 projects worth a whopping ₹15.48 lakh crore. This is all about making it cheaper and easier to transport goods, which is good news for businesses and consumers alike.

Read More: Is Zomato Bigger Than Tata Now? A Milestone for Indian Startups

Logistics Gets an Upgrade: The National Logistics Policy

Launched in 2022, the National Logistics Policy is like a software upgrade for how things move around in India. It's about making the whole system smoother, faster, and more tech-savvy. They're training people in logistics, bringing in new technology, and making it easier for businesses to deal with the government.

Make in India: Still Going Strong

Remember "Make in India"? It's still a big deal. DPIIT is working hard to make India a manufacturing superpower. They're building industrial corridors, supporting local products, and encouraging startups – all part of the plan to make India a global manufacturing hub.

Cutting Red Tape: Easier to Do Business

Starting and running a business in India used to be a headache with all the paperwork and regulations. DPIIT is trying to change that. They've cut down on unnecessary rules, made it easier to get approvals, and even decriminalized some minor offenses. It's all about making life easier for businesses, so they can focus on growing and creating jobs.

Read More: DPIIT's New Partnership will help India’s Manufacturing Startups

DPIIT has had a busy and productive 2024. They've been busy supporting startups, boosting manufacturing, improving infrastructure, and making it easier to do business in India. All of this is good news for the Indian economy and shows that the government is serious about making India a major player on the global stage.

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