Commerce And Industry Ministry To Release States' Startup Ranking Soon

The commerce and industry ministry will on Monday release the ranking of states and UTs in terms of providing an easy regulatory environment to strengthen the startup ecosystem for budding entrepreneurs, an official statement said on Friday.

The last ranking was announced in September 2020.

Gujarat had retained the top slot then.

The third edition of the ranking of states' on support to startup ecosystems will be released by Commerce and Industry Minister Piyush Goyal.

The Department for Promotion of Industry and Internal Trade (DPIIT) conducted the exercise with the objective to promote India's vision of competitive and cooperative federalism, the ministry said in the statement.

The exercise was launched in 2018 to encourage states and Union territories to work towards easing regulations for the growth of startups and strengthening the support to the startup ecosystem.

"A total of 24 states and 7 Union Territories participated in the exercise this year, an increase from 25 last year and the highest till date," the statement added.

As India becomes one of the leading startup nations globally, the growth of the entrepreneurship in Tier-II and Tier-III cities in the country has become necessary, the ministry said, adding there were 4 states/UTs with startup policies in 2016 and today, there are over 30 states/UTs who have startup policies, and 27 states/UTs have their own state startup portal.

The ministry will release the ranking of states and UTs on July 4.

This edition has seven broad reform areas consisting of 26 action points, which are essential in providing regulatory, policy and economic support to startups and stakeholders of the ecosystem.

The reform areas included institutional support, fostering innovation and entrepreneurship, access to market, incubation support, funding support, mentorship support and capacity building of enablers.

This edition has evaluated the support provided by states and Union Territories over a period from October 2019 to July 2021.

(PTI)