Opulent Opportunity

India is one of the fastest growing startup hubs in the world, with an encouraging start-up culture, vibrant economy and a young talent pool. The demand for high-quality businesses is increasing exponentially, as companies enter into businesses that are digitally focused such as BPO, e-commerce, online marketing etc. According to the Economic Survey 2021-22, India has approximately 61,400 startups recognised by the Department for Promotion of Industry and Internal Trade, with at least 14,000 recognised during fiscal 2022. The survey is an annual economic report card that assesses the performance of several sectors and advises future developments. According to an Entrepreneurship survey, at least one new business has been established in each of India’s 555 districts. Over the last six years, the number of startups in India has increased dramatically. The number of newly recognised companies has climbed from 733 in 2016-17 to over 14,000 in 2021-22.

Investing in new-age enterprises is a great way to diversify your regular investments. As more stocks become publicly listed, we’re seeing an uptick in IPOs as well as a surge of interest in space tech companies. From April to November 2021, Rs 89,066 crore was raised through 75 IPO issues. Space tech firms are emerging in India. Between April 2019 and December 2021, over 5,000 startups have been recognised. Mumbai has been ranked as the top startup hub. Maharashtra leads with 11,308 registered startups.

Why is it favourable to establish a business in India?

• Strong Trading Network : India has a wide network of technical and management institutions of the highest international standards, which are supported by regional and bilateral free trade agreements. Furthermore, there are several trading partners with whom to conduct business. These institutions produce high-quality human resources.
• Government Efforts : The Indian government has launched multiple measures to encourage foreign investment in India’s various industries. It has periodically introduced a variety of enticing plans and policies to attract investors. Individual ministries have made specific efforts to relax the laws and regulations governing foreign investment in their respective industries.
• Indian Financial Industry : India has a well-regulated financial system that has access to established markets all over the world that can be financed through a variety of channels subject to RBI laws and regulations, among other things.

What has caused India’s startup ecosystem to thrive?

• Recognition of the Importance of Startups : Today, India has the largest student population in the world. The government believes that this population can be converted into a force of innovation, something that should be fostered by instituting incubating hubs for budding entrepreneurs. A growing number of incubators, as well as a consistent preference among young executives to establish their businesses, are also boosting India’s entrepreneurship and early-stage startup ecosystem.
• Potential Availability : According to research on 2021 tech companies, a significant proportion of tech entrepreneurs are young graduates from IITs and renowned engineering universities, or those who have worked for global consulting organisations.
• Startup-Specific Projects : The Indian government encourages entrepreneurs to create a stronger economy. Many reforms have been made to help new business owners get off the ground and thrive. The government created the Startup India Initiative to simplify the complex legal, financial and knowledge requirements for entrepreneurs so that more people can form successful startups and grow them into successful business enterprises.

Overall, it is evident that India is taking steps to encourage the establishment of start-up businesses that are generating favourable outcomes. Such encouragement is a step on the right path that must be maintained. The government’s engagement in this industry speaks well for the future of start-ups in India, since they may immediately reap the benefits of their efforts. This atmosphere has been established by decreasing the prerequisites for starting a business and providing programmes for start-ups to obtain bank financing.