KOLKATA: Indian startup ecosystem is riding on a positive mode with respect to innovation, recognition and job creation. Lately, a report revealed dynamic growth in the month of April and achieved significant milestone in company formations as well as job opportunities. It is learned the job creations were more in the non-metro cities like Jaipur and Kolkata.
The report was compiled by talent platform foundit and it stated that 37 percent increase in new startups was noted last month and this created more jobs. There was a surge of 14 percent in job openings across India.
Bengaluru, Delhi and Mumbai are considered as startup hub. However, the trend of more jobs was witnessed in Jaipur. It has emerged as a standout performer with 24 percent year-on-year increase in hiring.
Foundit CEO Sekhar Garisa stated that the report highlights the growing importance of non-metro locations with respect to entrepreneurial ventures as well as driving economic vitality across the country.
The report simultaneously shed light on sectors which witnessed increased hiring trends. A 31 percent year-on-year increase was seen in the production and manufacturing sector. The IT services sector witnessed steady growth.
However, hiring decline was witnessed in industries like internet, BFSI/fintech and media. The education/e-learning/edtech sector witnessed stability and consistent growth throughout April.
The rise of Jaipur as a new hub for startups highlights its potential to nurture innovation and entrepreneurship. It also means that the trend is shifting away from the metro cities towards non-metro cities.