Get All Access for $5/mo

India is at the threshold of a Start-Up Boom: Union minister Mahendra Nath Pandey According to the minister for skill development and entrepreneurship, the increasing number of start-ups generates employment

By Vinayak Sharma

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


With new start-ups mushrooming frequently across sectors such as information technology, agro-food processing, logistics and transportation, among others, India is at the threshold of a start-up boom, said Mahendra Nath Pandey, Union minister for skill development and entrepreneurship. "There has been tremendous growth in the last three years," he added.

According to a KPMG report, the number of start-ups in India increased from 7,000 in 2008 to 50,000 in 2018. According to the minister, the increasing number of start-ups creates employment and boosts the economy.

The minster was speaking at the National Entrepreneurship Awards (NEA) 2019 wherein the ministry presented awards to 30 young entrepreneurs and six organizations/individuals for their entrepreneurial efforts. The minister reiterated the government's stand urging talented youth to move from being a job searcher to the job provider.

Also Read: MSDE Applauds Skilled Trainers, Encourages Education Sector Around the Country

Fueled by innovative modules of business created by the youth, India is witnessing a change in its aspirations. "It is an evidence of drastic improvement in the business environment. It is our priority that we give the right kind of support to the aspiring talent and nurture and encourage our young minds to dream big and achieve bigger," said Pandey.

"NEA is a great platform to encourage young aspiring entrepreneurs and recognize the exemplary work that they have done adding to their professional and nation's overall growth. I wish all of them the very best for their future and hope they further motivate many more to be a part of India's growth story," he further added.

According to a release, there has been a sharp increase in the number of completed applications from a variety of businesses for the awards in 2019. The number of completed applications grew from 2,379 last year to 4,134 this year. The release added that the 73% growth of successful entrepreneurs completing their application for NEA 2019 is reflection of the increasing seriousness of young entrepreneurs.

Also Read: What National Entrepreneurship Awards 2019 Hold for Business Enthusiasts and Nation's Economy?

Vinayak Sharma

Entrepreneur Staff

Correspondent, Entrepreneur India

Growing a Business

Beware of These Risky Sales Tactics That Are Doomed to Fail or Backfire

Every business owner can learn from the failed sales tactics of a defeated car salesman. Know what they are to avoid losing your sale.

Business News

Can ChatGPT Help Start a Business? I Tried the Latest Version, GPT-4o, to Find Out.

I tried ChatGPT for business advice, from the perspective of a first-time founder looking for ideas and guidance.

Business News

This Major U.S. Metropolis Is Requiring All City Employees to Work In-Office 5 Days a Week

Philadelphia is the first city to implement the five-day-a-week in-office mandate. It went into effect on Monday.

Side Hustle

This Former Disney Princess Lived 'Paycheck to Paycheck' Before Starting a Side Hustle at Home — Now She Makes $250,000 a Year

Victoria Carroll's income was "sporadic" until a friend encouraged her to take her talents to Fiverr in 2018.

Business News

Tesla Now Has Nearly 800 New Jobs Open — Up From Only 3 Roles in May

The job openings could indicate where Elon Musk wants to steer Tesla next.

Business News

How One Company Transformed a Medical Device into a Mass Market Phenomenon

Hyperice's Gilad Jacobs has spearheaded the recovery revolution, expanding the use of his late mother's innovative compression invention for patients, athletes, and everyday citizens.