In the long run, the startup ecosystem has the potential to

In response to a legislative question, Som Parkash, Minister of State in the Ministry of Trade and Industry, stated that startups and the broader innovation ecosystem are the main drivers of growth for any nation. Consistent government efforts in this area have resulted in an increase in the number of recognised startups from 442 in 2016 to 92,683 in 2023 in India. (as on 28th February 2023).

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