Start ups in India - Issues and Challenges

  • S Ramamoorthy Associate Professor, Department of Economics, N.M.S.S. Vellaichamy Nadar College, Madurai, Tamil Nadu, India
Keywords: Startup India, Action, Startup, Lifecycle, Financing, Challenges

Abstract

When a country’s citizens grow, the country grows as well. India is a country where the majority of the population is younger, and some of the younger people are quite innovative. According to Prime Minister Modi, India’s youth must transition from job searchers to employment producers. Modi presented an action plan to encourage start-up businesses, which are considered as critical to job creation and wealth creation, while speaking at the first conference of start-up entrepreneurs. In his Independence Day address, Prime Minister Narendra Modi introduced the ‘Startup India, Stand up India’ campaign. PM Modi launched the country’s startup action plan on Saturday. He announced a self-certification plan for nine labour and environmental rules, as well as the fact that there will be no inspections for the first three years of the enterprise. In India, the start-up boom is still a relatively recent phenomena. Today, India is undergoing a fundamental transformation, with entrepreneurship and innovation serving as main catalysts in the creation of jobs and the resolution of everyday problems. There were only a few Indian start-up success stories a decade ago, such as MakeMyTrip.com and Naukri.com. The Indian Start-Up Ecosystem has come a long way, thanks to companies like Flipkart, Quickr, Practo, Zomato, and Inmobi. 

Published
2019-06-02
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How to Cite
Ramamoorthy, S. (2019). Start ups in India - Issues and Challenges. Shanlax International Journal of Economics, 7(3), 29-34. https://doi.org/10.34293/economics.v7i3.523
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Articles