The term “startup” has been circulated around with increasing frequency over the past few years to describe disorganized young enterprise. But what is a startup, really?
India is a country of many great legends who were famous all over the world because of their works, sharp mind and high skill. However, our country is still on the developing track because of the lack of some solid support and ways to work in right direction. Youths in India are very talented, highly skilled and full of innovative ideas.
An initiative taken by the Prime Minister of India Mr Narendra Modi Startup India Stand up India is a great campaign to align the youth of the country and to provide them with the opportunities so that they can have their own firm and help to make the country developed. Recent surveys show that there is a less number of jobs and opportunities for the youth in the country. To fulfil their dreams they move abroad. So, it is an opportunity provided to the youth of the country to serve their own country.
Impact Of Startup
India needs 10 million jobs per year and surveys show that it is startups, not large companies that create net new jobs in any country. Startups are also the centres of innovation and are a great way to enhance employment creation in the economy. However, more important part is the technological enhancement they bring to the country. Startups involve dealing with new technology.
With more and more startups India can aspire to be a world leader in skilled work and not just an outsourcing destination for cheap IT services. Bringing new competitive dynamics in the economic system – Startup companies are the most dynamic economic organizations.
Future Of Startup In India
Initially, India was considered as the market for providing cheap labour to the world and for export of Indian services in the field of IT. Due to this India has noticed low product development and innovation in the past. But, still it is not too late and the culture of startups has started in India in the recent past. It has already started bearing fruits and is all ready to benefit the Indian economy in the long run.
Developed nations are now looking towards fast-growing and emerging nations such as India to tap the huge untapped potential in these markets. In the recent years, different countries are taking different initiatives to link up their businesses with the Indian startups. The Indian government is also taking several steps to build an environment which is suitable for startups since small businesses can play a very important role to develop and boost Indian economy in the future.
Considering the importance of the role that the Indian startups are all set to play in the growth of Indian economy, the amount of income and the huge number of jobs that can be created by facilitating startups.