START-UPS IN INDIA- A MACRO PERSPECTIVE
Abstract
Author(s): Prashant Vithal Kadam, Miss. Sunita Gurav, Miss. Natacia Noronha & Miss. K. Jayapriya .M
India is a technologically developing south Asian country. It is third in terms of its Purchasing Power Parity and 7th largest country by area. The increasing digitization of the Indian economy over t he last decade or more has brought India on the world map of IT and ITeS. The increasing contribution of the software industry in the total service exports has mandated the government to come up with defined reforms in the technological field. The unemployment problem however has deprived the economy and the nation from the efficient use of its human capital. The entrepreneurial talents of the vast populated country has never been explored or tapped properly. This has also resulted into a huge brain drain in the past. The government of India took proactive measures for the techno savvy firms and industries. This was further supplemented by the, “Startup India, Stand up India” on 15th August 2015 to promote Bank financing for start-ups and offer incentives to boast entrepreneurship and job creation. All these measures were initiated towards creating an efficient, dynamic and innovative class of entrepreneurs. The paper has explored the international dynamisms of India to gear towards its ventures of Startups in India. It has also analysed India’s preparedness in its startups programs, its failures etc. and the technological readiness in terms of select parameters such as internet connectivity, subscriptions and etc. This paper is aimed at analyzing about the growth and prospects of Startup systems in India.
