‘India saw a 30% decrease in jobs since 2016 and the pandemic along with macro-economic factors have terribly impacted the job market further. Coupling this with the rapid developments in AI and the growing young population of the country, solutions need to be devised to ensure there is an appropriate ecosystem for jobs and job creation.
According to the Economic Survey 2024-25, India needs to generate 7.85 million (78.5 lakh) new non-farm jobs each year until 2030 to accommodate its growing workforce and to leverage its demographic dividend and to avoid risks.
A major path to creation of such a high number of jobs is the booming start-up space in India. The Economic Survey 2024-25 highlights the remarkable progress of India’s startup ecosystem, noting a significant improvement in the country’s ranking on the Global Innovation Index-from 81st in 2015 to 39th in 2024 among 133 economies. Despite global economic and political uncertainties in 2024, the Survey notes that India’s startup ecosystem continues to demonstrate resilience and adaptability, positioning itself as a key driver for the country’s long-term economic vision.
As of early 2025, India has approximately 1.61 lakh (161,000) DPIIT-recognized startups, making it the world’s third-largest startup ecosystem. In 2024, India’s technology sector-including startups-contributed approximately $283 billion to India’s GDP, which is about 7.3% of the total GDP. According to government data, startups created over 3.92 lakh (392,181) direct jobs in 2023 and 3.52 lakh (351,921) in 20245. This totals more than 744,000 direct jobs in the last two years alone.
This wave of a booming startup economy only goes to prove that the Indian youth is becoming seemingly less reliant on the volatile job market and becoming more self-reliant by fulfilling their own dreams and by choosing the trajectory of entrepreneurship..
Entrepreneurship has not only reduced dependency on the job market but has become a key contributor to employment generation and innovation.
This kind of an exponential growth of entrepreneurship and its culture is believed to aid in shaping the Indian economy, encourage innovation and make India self-reliant.
kNOCk Technologies is a personalized entrepreneurship technology platform specifically designed to directly interact with experienced industry mentors who would help aspiring students to become successful entrepreneurs. It has been incorporated with a deep desire and passion to equip the students, through a technology-led experiential learning platform on entrepreneurship, and contribute towards building a self-reliant India.’