A study of the impact of the startups India scheme on the Indian economy

Abstract

The Government of India launched Startup India as its premier programme to foster the startup culture and create a robust and inclusive environment for innovation and entrepreneurship in India. On August 15, 2015, the Hon. Prime Minister of India, Sh. Narender Modi unveiled the Startup programme. The Indian government provided a new avenue for preparing the nation's young, brilliant citizens to launch their ventures instead of waiting for employment, demonstrating greater trust in their abilities. Young professionals can take advantage of the market by creating a good or service they think people will pay for. The startup concept is still in its early stages. Therefore establishing itself will present several difficulties. The main challenges are financing, lack of planning, hiring the right people, the regulatory environment, and poor risk management. Despite several obstacles, startups in India are contributing positively to the socioeconomic advancement of the country. The Startup India programme offers optimism to international investors and young people in India. The goal of the current study is to assess how startups are affecting the Indian economy. The research examines texts from books, websites, journals, and other sources to identify the many issues and difficulties experienced by startups in India.