Startups growing fast even in tier 2 and tier 3 cities

Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), Amardeep Singh Bhatia, said that the country’s start-up ecosystem has seen robust growth in the past nine years with more than 1.5 lakh registered start-ups under the department. Briefing the media in New Delhi, the secretary stated that the number of states and union territories with dedicated start-up policies has also grown from 4 in 2016 to 31. He added that tier 2 and tier 3 cities are now taking up the centre stage of start-ups spreading across 779 districts of the country. Highlighting government initiatives like the Seed Fund Scheme, the Funds of Funds Scheme, and the Credit Guarantee Scheme, he asserted that the success of these schemes will be a model for other departments to replicate.