Though the Indian Govt is already running various programs to support the Start-ups, such as Make in India, Start-up India, looks like Prime Minister Modi wants to continue fueling this emerging sector. As Government has promised to create job opportunities for youngsters, Prime Minister recently talked about his massive step. In this process, out of the 10,000-crore fund of funds created by the government, Rs. 1 lac crore is meant for the start-ups. Along with the youth of the country, the government too is in full swing on creating an ecosystem that supports and empowers the emerging start-ups and entrepreneurs. Not only financially, the government has also worked on lending a helping hand by setting up of tinkering labs, incubation centers, removing regulatory hurdles, providing tax incentives and support in the field of legal issues and intellectual property rights.
Gone are the days when startups meant only digital and technology innovation but now things are gradually changing with the outstanding support of the GoI through schemes and policies, start-ups are now emerging even in smaller towns and in unconventional segments like agriculture and social sectors. These start-ups are strengthening the Indian economy in their own impactful way, not only by creating jobs but also bringing in foreign investment and technology.
India’s 65 percent of the population is below 35 years of age and this would become a driving force for the country. If we look at this current scenario, we actually need such initiatives. It will not only help in economy growth, but also to help those skilled enthusiasts who are willing to do something amazing in their life.
Since the last four years, the government has been promoting and supporting various innovations under the Startup India scheme, wherein start-ups have been registered in almost 419 districts in 28 states and 6 UTs. So far, 44 percent of such firms are in tier-2 and 3 cities.
Women entrepreneurs are also coming forward to create job opportunities and promote their start-ups. Today, in India, 45 percent the start-ups are started by women while one startup, on an average, provides job opportunities for 12 people, which is a great sign for the Indian economy. Thus taking such initiatives by govt really make sense.