"As on 1st March 2020, a total number of 3,37,335 employment has been reported by 27,137 DPIIT recognised startups," Commerce and Industry Minister Piyush Goyal said in a written reply to the Lok Sabha.
In a separate reply, the minister said there is no provision under Startup India initiative for sanctioning of funds to startups directly.
However, it has established a Fund of Funds for Startups (FFS) with corpus of Rs 10,000 crore, to meet their funding needs.
DPIIT is the monitoring agency and Small Industries Development Bank of India (Sidbi) is the operating agency for the FFS.
The total corpus of Rs 10,000 crore is envisaged to be provided over the 14th and 15th Finance Commission cycles based on progress of the scheme and availability of funds.
"As on 18th February 2020, Sidbi has committed Rs 3,123.20 crore to 47 Securities and Exchange Board of India (Sebi) registered alternative investment funds (AIFs). These funds have raised a corpus fund of Rs 25,728 crore," Goyal sad.
He said that the AIFs have invested a total of Rs 3,378.47 crore into 320 startups, out of which Rs 912.91 crore have been drawn from FFS.
Fund of Funds does not directly invest into startups, but provides capital to Sebi-registered AIFs, known as daughter funds, who in turn invest money in growing Indian startups through equity and equity-linked instruments.
In a separate reply on India-US trade deal, he said India has an open mind in dealing with any trade-related matter while keeping its domestic and trade interests in mind.
Decisions are taken in the larger public interest after having consultation with all stakeholders, he said.
"Trade related issues are a part of any ongoing economic relationship, and will continue to be discussed and addressed as a part of the regular bilateral trade engagement between India and the US," he added.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.