The past few years have been very interesting for the Indian Entrepreneur scene and the country has seen many successful start-ups making their mark, not just on the subcontinent but on the entire world. Flipkart, Snapdeal, Lenskart, Makemytrip are some of the names of the success story that is still continuing in the Indian cities. Much credit goes to the hardworking and risk taking entrepreneurs, some of whom have even left jobs with hefty pays to start a company, to kindle this energy among the youth to think big and beyond. But another surprising element in all this scenario is that the government of our country has also come forward in aids to these start-ups. Although it seems natural for a country to aid its entrepreneurs, India has never been such country where most of the government’s energy as well as resources use to go in saving public companies like Air India. (which has hit profitability after a long time by the way) But why is it important for the Indian government to support its entrepreneurial class let’s take a look.
India will be home to the most number of working population by 2020. In such a case it will put enormous pressure on the government to provide employment to such a large number especially at a time when world economy is not in its pink. Start-ups such Flipkart have proved that if given the opportunity, an Indian start-up company can hit it out of the park. Not just this, the start-ups working in India are expected to hire some 2.5 lakh employees by 2020. This will ease up the pressure on the government a lot. Also, India is home to about 3100 start-ups, behind only US, UK and Israel and if 10% of these companies succeed, (the number should be more though) this will add to the government’s relief. This combined with government’s policy of privatisation is what has led the government to focus their energy towards this new emerging atmosphere.