The Government is hopeful that in 2023, Indian start-ups will attract significant foreign direct investments (FDI).
India has the third-largest start-up ecosystem in the world. And it also has one of the most liberalised FDI policies, wherein very few sectors require government approval.
Claiming so, Anurag Jain, Secretary, the Department for Promotion of Industry and Internal Trade (DPIIT) said that the Government is taking steps to strengthen the ecosystem for budding entrepreneurs.
He said that the way start-ups here are performing, soon the country will become a top ecosystem globally.
He said that the number of recognised startups is increasing significantly with the Fund of Funds for Start-ups (FFS) and Start-up India Seed Fund Scheme performing well.
It is important to note here that the Government has many taken up several initiatives to promote start-ups and the apparel sector itself has seen the development of successful start-ups recently. Few of them are constantly performing well.
Also Read: US $ 1522.23 million FDI in the textile sector from 2017-2022
To nurture innovation in start-ups and encourage private investments in the start-up ecosystem, the Startup India initiative was set up in 2016. Under Startup India, entities are recognised by DPIIT as start-ups as per the eligibility conditions.
Over 84,000 entities have been recognised as start-ups as on 30th November 2022.
Bharat Tex Special Report 2026 
