India has 1.76 lakh startups, 118 unicorns

New Delhi

India now has 1.76 lakh registered startups and 118 unicorns, Finance Minister Nirmala Sitharaman said on Friday. She praised the youth for building startups and creating jobs, highlighting progress made in the last 11 years under Prime Minister Narendra Modi’s leadership.

Union Minister Hardeep Singh Puri also shared achievements, saying that seven new IITs, eight IIMs, and 16 AIIMS have been opened in the past 11 years. He noted that 1.6 crore youth were trained under PMKVY and 17.6 lakh jobs were created by startups. Around 30,000 vocational schools were set up, enrolling over 30 lakh students.

Puri added that 52.5 crore collateral-free Mudra loans were given to small businesses. Loans worth more than ₹1 lakh crore have been granted to over 33 crore people. Under the PM Internship Scheme, one crore young people got internships in top 500 companies.

Nearly 490 new universities were opened to improve access to higher education across India.

The Department for Promotion of Industry and Internal Trade (DPIIT) also expanded the Credit Guarantee Scheme for Startups (CGSS). The loan guarantee limit for startups was raised from ₹10 crore to ₹20 crore. Startups can now get up to 85% guarantee cover for loans under ₹10 crore, and 75% for higher loans.

This move will help startups get easier access to funding by reducing risks for lenders. The goal is to help innovation-based startups grow, conduct research, and develop new technologies, making India a stronger self-reliant economy.