Takeaway: India is a developing nation. Hence we can see there’s a rise in the startup and employment sector of our country. Terms like “unicorn” and “startups” are often used now. Many startup companies are successfully established, like Paytm, Flipkart, Nykaa, and so on…
The emergence of startups in India
Before diving into how India came to be the original harp, we must first know what it is. Getting started is a job or a start-up company to provide solutions to specific problems that have not been addressed before or provide better solutions to existing ones.
The term startup is often related to Silicon Valley in the U.S., which has seen many startups such as Facebook, Google, etc. Now, though, the power of the world is changing, and that is happening very fast. Chandigarh is also emerging as the Silicon Valley, and there are several coworking space in Mohali.
Trade and commerce are something that has been in the blood of Indians throughout the world. This is also evident in our history books. However, particular areas of touch in history have much helped accelerate the growth of the beginning.
Therefore, if we are trying to set a problematic timeline for when this growth will begin, we can say that a significant change would occur in the 1980s.
Another area of concern to be considered will be the year 2008, after a major recession. This brought the economy to its knees, and companies around the world began laying off their employees. There was an ongoing fear among workers around the world about losing their jobs.
This has had a profound impact on I.T. experts in India. Many began to look for new ways, and many who were fired from their jobs decided to take the next step in getting started. Many popular startups in India like PolicBazaar, Zomato, etc. They were established during this time.
Several office space for rent in Mohali have provided comfortable workspace to many individuals.
Following this, the first start in India was not postponed. It has continued to grow at an alarming rate. However, it is also essential to know why these initiatives are growing so fast in our country.
Why are startups growing in India?
Start-up growth in India was a gradual process in nature, and there are a few reasons why India became such a stable place for starters to grow well. Some of the main reasons are:
1. A pool of talent: Our country has a collection of skills. India has a lot of people with a new generation. This reflects the amount of energy our government has in terms of skills. There are millions of college graduates and b schools every day.
2. The cost of starting a business is low: India is a hard-working country rather than a significant investment. Also, workers here can be hired at low prices. Therefore, compared to other countries, the cost of setting up a business here is relatively low. This is why many international companies have decided to set up their plants and offices in India. This is one of the most widely used features of startup owners.
3. Government Boost: Over the past decade, there has been significant initial growth in India. One of the reasons for this may be due to various programs introduced by the Government. Some of the notable programs launched to grow the business are StartUp India and StandUp India. The government is also trying to encourage companies in new sectors or rural areas by supporting them.
4. Increased Internet Use: India has the highest number globally, and with the introduction of affordable mobile services such as Reliance Jio, internet usage has increased. It has even reached rural areas now. India has the second-largest Internet user-base behind China, and companies and startups can benefit from this easy internet access.
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