India's Economic Growth – Can The Startups Redefine?
Small Enterprise|November 2021
Recent years showed a considerable rise in the startups of India. During globalization, MNCs or Multi-National Companies had a massive role in India’s economic growth. Now, it seems that startups are revolutionizing the Indian economy. These startups are amplifying the revenue generation and enriching the GDP.
Maeen Tanweer

The startups are redefining Indias economic growth exponentially. India has an entrepreneurial culture and favorable demography with an open economic environment. Hence, entrepreneurial activities in India are widespread. When it comes to the startup ecosystem, India is the third-largest one around the globe. Research shows that startups play a significant role in the growth of the Indian economy. With the increasing opportunities and innovation by the startups, India can see considerable growth in its economy and living standards.

Startups are creating new markets and opportunities and even upending the business models present in India. Some of the startups in India have even made it to the list of unicorns startups which is quite a significant growth.

The startups in India are promoting innovative solutions which are tailor-made for the customers. Some startups are even leveraging the latest technologies like AI (Artificial Intelligence), IoT (Internet of Things), ML (Machine Learning), etc., to enhance the business means. Through their skill, size, and innovation, startups have a dynamic impact on the economic conditions of India.

Significant Impacts of Startups in Indias Economic Growth: Startups are a significant part of leading to India’s economic growth. They assist in the net job growth, increase experience rate, and have a substantial impact on the development and productivity of the Indian economy. Let’s get to the details.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM SMALL ENTERPRISEView All

Job Creation: Startups Starting Up!

Do startups create jobs? This could unarguably be one of the most sought after questions in recent times. While it is out and clear that startups make way for employment opportunities, the discussion boils down to the importance of startups in creating jobs. The startup ecosystem indeed plays a major role in job creation and is touted as an economic panacea.

2 mins read
Small Enterprise
November 2021

Importance Of Technology For SMEs

We, humans, by nature, tend to be lazy. We always try to make tools, machines, gadgets, etc., to save us time and energy and give us satisfactory results. Technology is the charisma that kept changing our way of living and our style of doing things drastically. Our way of conducting business is also not spared by the Tsunami of technology.

5 mins read
Small Enterprise
November 2021

Importance Of Digital Economy

Economic activities that result from billions of interactions between individuals, businesses, data, devices, and processes constitute a digital economy and India is well on its path to becoming a digitally advanced economy. Driven by cheap data cost, faster connectivity, and affordable smartphones, India had over 1,160 million internet subscribers in February 2020, as per the Telecom Regulatory authority of India (TRAI), second only to China.

2 mins read
Small Enterprise
November 2021

India's Economic Growth – Can The Startups Redefine?

Recent years showed a considerable rise in the startups of India. During globalization, MNCs or Multi-National Companies had a massive role in India’s economic growth. Now, it seems that startups are revolutionizing the Indian economy. These startups are amplifying the revenue generation and enriching the GDP.

5 mins read
Small Enterprise
November 2021

ENTREPRENEURSHIP EDUCATION FOR BUDDING MINDS

In the present economic situation, having knowledge of an academic subject is no longer sufficient for a new graduate. Students are increasingly required to have skills and abilities which will increase their employability, such as: the retrieval and handling of information; communication and presentation; planning and problem solving; and social development and interaction.

4 mins read
Small Enterprise
November 2021

CHALLENGES OF ENTREPRENEURSHIP DEVELOPMENT IN INDIA

The Economic survey in 2019-20 using World Bank’s data on entrepreneurship stated that India ranks third in the number of new firms created. However, India ranks significantly lower in terms of intensity when compared with countries like UK and US.

2 mins read
Small Enterprise
November 2021

HOW INNOVATION PLAYS AN IMPORTANT ROLE IN THE PERFORMANCE OF SMEs? WHAT ARE SOME INNOVATION FACTORS TO FOLLOW?

Innovation in a business must respect the business strategy in terms of the SME's long-term missions, visions, and goals and is systematic implementation procedures and changes to improve the products and services your company offers. The innovation implementation ensures an appropriate response in terms of increased sales and enhanced customer satisfaction. The image strengthening of your firm will lead to better customer relations with your company and at the same time provide financial stability for the company.

4 mins read
Small Enterprise
November 2021

ECONOMIC REFORMS THAT CAN CHANGE THE ENTREPRENEURIAL ECOSYSTEM

The year 2021 marked 30 years since economic liberalisation surfaced in India and writing on this occasion, the richest man of India; Mukesh Ambani said that bold economic reforms such as ending the license –quota raj, liberalisation of trade and industrial policies, freeing up capital markets and financial sector helped our GDP grow ten folds since 1991 and India transformed from an economy of scarcity in 1991 to an economy of sufficiency in 2021.

2 mins read
Small Enterprise
November 2021

ROLE OF WOMEN ENTREPRENEURS IN INDIA – THEN AND NOW

As per the 2019-20 annual report of the MSME ministry, among 63.3 million MSMEs that India has, women–owned 20.4% of them up from 13.72 % in 2013-14. This data supports the fact that there has been growing acceptance of women in entrepreneurial roles but it hasn’t always been the case.

3 mins read
Small Enterprise
November 2021

TECHNOLOGY AN ENABLER FOR SMALL BUSINESSES

Today times are such that firms operate in a dynamic environment and they must act dynamically too, at least firms should keep an eye on obsolete processes and technologies and replace them with updated versions to stay competitively ahead.

3 mins read
Small Enterprise
November 2021
RELATED STORIES

All You Need Is Love

What I learned about creativity from working with the Beatles

8 mins read
Newsweek Europe
January 21, 2022

All You Need Is LOVE

What I learned about creativity from working with the Beatles

8 mins read
Newsweek
January 21, 2022

When to Launch Something Illegal

Some business ideas are good enough to change the law. But you may never know unless you build it first.

3 mins read
Entrepreneur
January - February 2022

The ESG Mirage

Sustainable investing is mostly about sustaining profits. MSCI, the largest ESG rating company, doesn’t even try to measure the impact of a corporation on the Earth and its people

10+ mins read
Bloomberg Businessweek
December 13, 2021

She Broke the Bank

Luvleen Sidhu was just 28 when she founded BankMobile with a lofty mission: to reinvent banking for millions of Americans through the power of tech. The 2015 launch presciently anticipated the coming rise in mobile banking, and six years later the Radnor, Pennsylvania based business merged with a special purpose acquisition company (SPAC) in a transaction worth $150 million. That made Sidhu the youngest female founder and CEO ever to take a company public, and led her to even grander goals: Still at the helm of the company—now called BM Technologies—she says she wants to “create ripple effects and inspire other women.” Here’s why you should put your money on her to do just that.

2 mins read
Inc.
Winter 2021/2022

Business Is Like Biology

Companies and living creatures grow in eerily similar ways. These lessons from nature can help you thrive—and avoid disruption.

5 mins read
Entrepreneur
December 2021

Jim Cramer's Decree: No More Low-Hanging Fruit

The CNBC host says he’s bullish on entrepreneurs—because their creativity trumps any challenge.

5 mins read
Entrepreneur
December 2021

Where to Invest in 2022

Investors will have to curb their enthusiasm as markets get back to normal.

10+ mins read
Kiplinger's Personal Finance
January 2022

JAPAN'S TOSHIBA SPINS OFF ENERGY, COMPUTER DEVICE UNITS

Embattled Japanese technology conglomerate Toshiba said it is restructuring to improve its competitiveness, spinning off its energy infrastructure and computer devices businesses.

2 mins read
AppleMagazine
November 19, 2021

Unhappy Returns

What really happens to all the pants that don’t fit

10+ mins read
The Atlantic
November 2021