The startup landscape in Andhra Pradesh (A.P.) has witnessed a significant improvement, with the number of recognised startup companies going up to 586 in 2023 compared to 161 in 2019. This led to an increase in direct employment opportunities generated by recognised startups in the State from 1,552 direct jobs in 2019 to 5,669 in 2023, according to Union Minister of State for Commerce and Industry Som Prakash.
Making a statement to that effect in reply to a question posed by YSR Congress Party (YSRCP) MP Parimal Nathwani in the Rajya Sabha on Friday, Mr. Prakash said a total of 10,604 startups were recognised in India by the Department for Promotion of Industry and Internal Trade (DPIIT) in 2019, which jumped to 34,779 in 2023. Simultaneously, the direct employment opportunities created by the startup companies across India registered a substantial increase, up from 1,23,071 jobs in 2019 to 3,90,512 jobs in 2023.
