Despite layoffs, Indian start-ups created 230,000 jobs in 2022, claims report

Описание: According to StrideOne, Indian startups created 230,000 jobs in 2022. The survey also revealed that start-ups produced 78 percent of new jobs between 2017 and 22 and 24 percent between 2022 and 27.

The government's effort toward a digital economy will also increase job penetration by 70 times by 2025.

India has the third-largest startup ecosystem after the US and China. The Department for Promotion of Industry and Internal Trade lists over 770,000 Indian startups. With 108 unicorns, the combined valuation of the start-ups is over $400 billion.

While the report highlighted that the start-up ecosystem created a number of jobs in this calendar year, 2022 also saw massive layoffs being announced by start-ups and even large cap technology companies.

The industry has been divided on the whole layoff debate across India and the globe. Some have called it a process that is a part of the “market correction," while others have said that this is a trend the ecosystem has to be worried about.

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