Indian Startups- Boosting Economic Growth

Written by wearecephalization

With the startup of small business for entrepreneurs, India is all set to boost its economy in coming future. According to NASSCOM report, It is almost 3100 startups starting every year in India standing along with Israel, UK, and the United States. It is also estimated that it if growth continues at the same pace then in coming five years, Indian tech startups will create almost 2.5 lakh jobs.

 

It is predicted that in 2020, India will become the home of 112 million workers between the age of 20-24 years as compared to 94 million working population in China.

India was considered the cheap labor provider in the world and for export of the Indian services of IT. For this reason, In past India has witnessed innovation and low product development.

 

The tech startup are continuing to increase the growth of startup era and ready to increase the revenue that is generated by IT-BPM sector by about 12-14 per cent for the recent fiscal year. It is estimated that the next year, the Indian ecommerce market with increase over 50 per cent. India has observed from overseas, the huge infusion of capital via venture capital funds in the last year. After the development of new government, an optimistic view has created to observe the growth of Indian economy. The Indian government has started working to the improve the ranking of India in World Bank and currently India is at 142 positions which not only boost the startups but also increase the growth. As overseas are now consider India as a favorable place to invest.

 

Indian government Took several initiatives through this startup that is helping to boost and develop the economy of India near future. In the Union Budget, the Indian government has build a process which is known as  Self Employment and Talent Utilization (SETU) that help to support all the startups. The government is also establish an ‘innovation labs’ in colleges and universities on different places which is similar to ‘incubation centers’

 

The indian startups especially care dealers are play an essential role in the growth of Indian economy. According to Car Dealer CRM, the growth is 20{2926adbe9d5efe15cdd71803f3adbd0753091c5491a4687b622765a0a93bb12e} increase as compare to previous years which is also a good sign for economy.The market regulator Securities and Exchange Board of India (SEBI) has also satisfied with some rules that help to facilitate the flow of funds to the startups.

 

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