Startup jobs YoY growth rate contracts to 13.8%; 1.73 lakh people employed in 2020

by Jeremy

According to a report on the National Startup Awards 2020 by Startup India last year, 12 jobs on an average have been created per startup. The year-on-year growth rate of the number of people employed at the Department for Promotion of Industry and Internal Trade (DPIIT) recognized startups across India had contracted sharply.

Startup jobs YoY growth rate contracts to 13.8%; 1.73 lakh people employed in 2020

From 58.6 percent rise in startup employment from CY2018 to 2019, the growth rate plunged to only 13.8 percent for CY 2019-2020 period, according to the data shared by MoS Commerce and Industry Som Prakash in the Lok Sabha on

Wednesday. The employment volume had jumped massively from 96,528 in 2018 to 1,53,126 in 2019. Still, it faltered with a relatively marginal increase to 1,73,315 in 2020 amid Covid impact across sectors due to which majority businesses, including startups, had either slowed down or paused hiring. Startups furnished the information of employment during their filing of recognition form, Prakash said. The leading states in startup employment in 2020 were Maharashtra,

Karnataka, and Delhi, with 34,008; 28,840; and 19,511 people employed, respectively. The three startup hubs accounted for 47 percent of India’s total startup employment. On the other hand, states with the least number of people employed at startups in 2020 were Arunanchal Pradesh with zero employment; Sikkim, Meghalaya, and Mizoram with two people employed each, Ladakh with three and seven people employed in Lakshadweep.

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