Medilytix Bureau :

Government-registered startups have created up to 6.5 lakh jobs in the country, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Anurag Jain said recently. More than 60,000 startups have been recognized by the DPIIT since 2016, when the flagship digital initiative was launched, making India the third- largest startup ecosystem in the world.

The government had earlier based the number of jobs created on a formula of each direct job in the sector leading to three indirect jobs.

Jain said the DPIT is focused on creating 20 lakh new jobs in the sector by officially registering 50,000 new startups, over the next 4 years.

According to the official website of Startup India, getting recognized by the government gives a startup income-tax exemption for a period of three consecutive years and exemption on capital gains and investments above fair market value.

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