India’s thriving startup ecosystem has been celebrated as one of the fastest-growing in the world. However, new government data has revealed a stark reality behind the surge in entrepreneurial activity: thousands of recognised startups have ceased operations in recent years.
Minister of State for Commerce and Industry Jitin Prasada informed Parliament that 6,789 startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) have been categorised as “closed” or dissolved, according to records from the Ministry of Corporate Affairs.
The disclosure came in a written reply to the Lok Sabha, offering an official snapshot of both the growth and churn within India’s ra
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