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VOL. 8, ISSUE 2 (2022)
Impact of startups on Indian economy
Authors
Shylaja Mandala
Abstract
Indian start-ups have made their mark on the global stage. The ecosystem's rapid growth and maturity have unleashed a tremendous appetite for scalability, alternative funding options, global market expansion, and the ability to enable millions of jobs. Startup entrepreneurship is crucial because it also brings new innovations, new jobs and competitive dynamics into the business environment and enterprises. The role of startups in economic prosperity is enhancing in today’s world. One of the main advantages of startups is that it creates new jobs. This meteoric rise of start-ups has made India the world's third largest start-up ecosystem, and it has had a significant impact on the Indian economy, demonstrating the ability to contribute approximately 4-5 percent of India's GDP. This report aims to highlight the impact of start-ups on the Indian economy, as well as the ecosystem's inherent ability to foster inclusivity, sustainability, and growth. Start-ups do not exist in isolation; rather, they are part of a larger corporate environment dedicated to developing solutions with significant social and economic impact. Because start-ups are incubators for cutting-edge inventions, they create jobs, which means more career opportunities; more employment leads to a stronger economy, and a stronger economy has a direct impact on the growth of cities where start-ups are located.
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Pages:48-50
How to cite this article:
Shylaja Mandala "Impact of startups on Indian economy". International Journal of Commerce and Management Research, Vol 8, Issue 2, 2022, Pages 48-50
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