Every other piece of news you read these days has startup mentioned somewhere, which makes you wonder how exactly are startups important in context of Economy and jobs? Let\u2019s be fair it, all comes down to jobs and Economic growth so let me surprise you here- startups have created more jobs than Big corporates.<\/p>\n
The Nasscom report<\/strong><\/p>\n NASSCOM<\/a> has made has projected that India is becoming the breeding ground for new startups. As per the report, India is amongst the five largest startup communities of the world, and the youngest of all.\u00a0The year 2015 ended with the number of startups reaching 4,200.(which is 5200+ in 2017) These startups helped create 80,000 new jobs this gives us an clear indication of where the economy is headed.<\/p>\n \u2018Don\u2019t look for job, be the next JOBS\u2019<\/strong> this has been the motto behind India\u2019s PM Startup Initiative<\/a>. India\u2019s image as a startup nation is gaining traction and currently boasts of having the third-largest startup base globally with an estimate of 10,500 new startups by 2020. United Nations World Employment and Social Outlook 2017\u00a0report<\/a>\u00a0stated that India was responsible for maximum job creation in 2016 in the Asia and Pacific region. India\u2019s Energetic youth has been the key driving force Morgan Stanley suggests.<\/p>\n Survey\u00a0from Randstad noted: \u201cOf the 400 workers surveyed in India, 56 percent considered quitting their jobs to start their own business.\u201d Just to put in perspective, this is the highest across 33 countries surveyed in. It highlighted that 83 % of Indians are wanna-be-entrepreneur minded which is 30 % more than global rate of 53%.<\/p>\n The Big Little Architecture <\/strong><\/p>\n Though startups are small, they play a big role in economic growth. Infosys played the role of a Catalyst for Bangalore\u2019s development is a well known example \u00a0– the same as Google was for California. The next era is of startups that will do the same to cities we haven\u2019t been familiar to maybe Jaipur, Pune or Surat.<\/p>\n