That’s true and is heartening – because it is one natural corollary to economic growth where India looks well poised for another growth story.
And whenever it happens here, it is quite satisfying socially (and should well be socio-politically).
After all, it creates success stories from among us – giving us empowerment of that ‘value system’ that all is not lost – that we can be on our own as we want, as we aspire. Yes, we need to work for that and we need to work on those irritating and frustrating sentiments that we so frequently encounter.
Events like ‘Startup India’ are much needed and natural initiative that the Government of India should take, especially after India’s prowess in services sector creating behemoths of services sector and a dependent economy that runs in hundreds of billions of US dollars – a gold mine for startup entrepreneurs.
And they are doing it quite an early age – like the trend has been in the Mecca of startups – in Silicon Valley and others areas in US – with Microsoft, Apple, Google, Facebook, Uber and many more success stories.
The average age of startup founders in India is around 28 years – that follows the global trend with markets with robust services sectors.
Catching the trend here are companies like Flipkart, Ola, Snapdeal, Paytm, Quikr, Zomato and Shopclues – all valued at over a billion US dollar – with Flipkart leading the pack with US$ 15 billion valuation.
According to a NASSCOM report on startups, India had 3100 tech startups in 2014 that is expected to grow by multiple times – to reach to the mark of 11500 by 2020. So, we can expect the overall scenario – including every sector of economy – yes, the pack would be led by Information-Technology companies – due to all pervasive nature and ‘great leveller and enabler capacity’ of communication technologies – but would not be limited to it.
India is on the way to become the world’s largest middle class by 2030 but that landmark may arrive much earlier and that is big market – in fact the biggest market – driven in a major way by the services sector of the economy.
©/IPR: Santosh Chaubey – https://santoshchaubey.wordpress.com/