Modi govt has only built 'Startup of fakery': Kharge

New Delhi: On Startup India's ninth anniversary, Congress president Mallikarjun Kharge alleged on Thursday that in nine years, the Narendra Modi government has only built a "Startup of fakery".

He also claimed that Indian Startups have received negligible support from the Modi government.

"In nine years, the Modi government has only built a 'Startup' of Fakery! Fact is Indian Startups have got NEGLIGIBLE support from the Modi Government," Kharge said in a post on X.

Whatever growth has taken place in the startup industry, credit should go to the entrepreneurial spirit and ingenuity of the startups and not the Union government, he said.

"Reality Bites -- only 1.58% of recognized startups have been approved for Startup India seed fund set by GOI (Government of India). More than 97 per cent haven't got any tax benefits. BJP promised Rs 20,000 crore Startup Seed Fund but Modi govt has only approved funding of just Rs 454.04 crore!" he said.

In 2024 alone, more than 5,000 startups have been forced to shut, he claimed.

"At least 1,56,000 Startup jobs have been lost since 2020. Hollow Sloganeering + Loud Propaganda = 9 Years Of Startup India by Modi ji," Kharge said in his post.

Under the Startup India initiative, eligible ventures can get recognised as startups by the Department for Promotion of Industry and Internal Trade (DPIIT) in order to access a host of tax benefits, easier compliance, IPR fast-tracking and more.