The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.
Urmanpreet Singh, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur
The ambitious program of the Modi government that- Start up India, on 17th Jan, sent a strong signal to the world superpowers. A nation may see India as a threat or as a companion, but, one thing is sure, that, it would have definitely noticed the signal.
What does “Start-up India” implies for India. For its citizens, which comprise more than 50% below 35 years, it is a conducive environment in which they can start their own business. Young India has education, skills and attitude to leverage this opportunity. For the country as a whole, this will result in many-fold benefits like- New business means more economic activity, more work, more employment. It also means more competition and hence more innovative disruption.
Amidst Business starters and government, one who will benefit the most is the Consumer. The innovation and problems solved by the start-ups will finally deliver more value to the consumers. This would mean more value for his money and hence increase in standard of living.
It may sound a rosier story, but the way is not easy. Government need to provide sustained support not just with capital, but also with ease of doing business. Failing which will cause the start-ups to fail and lead to a frustrated generation of start-up failures.
Whatever be the case, I strongly feel that India is Changing. Yes, Changing. And, this change will transform it into a biggest powerhouse of the world economy and innovation, as US and China together are as of today. All is required is persistent efforts from the youth of this country and conducive environment from the government in terms of regulations and policies.
Sources: The Hindu
Times of India