Page 16 - Digital Indial

216 STARTUP ECOSYSTEM

GROWTH ENGINE OF DIGITAL INDIA

For a country like India, startups are the important cog-wheels in keeping

the economic cycle running and contributing towards making India a

digital power

tartups are the engines Qualcomm, Apple, WhatsApp, etc., to grow at 10-12%. These startups
of growth of an economy. were startups just recently. Many are likely to employ over 200,000
If there are no startups, of these companies did not even people by the time period. The 2018
there shall be no future exist 4 decades ago. After these Economic Survey stated India had
S enterprise or a success- we have another breed of startups around 4,750 startups in the IT and
ful business. Every successful busi- like Uber and Airbnb on the global Business Process Management
ness or large enterprise that we scene, while in India Paytm, Flip- sector.
are proud of today or we see as an kart, Ola, Oyo, Swiggy, Zomato are Startups help the economy in
example, has been a start up in the among the unicorns. Among other India is several ways. These are economic
past. notable startups Jio is a new addi- expected to growth engines; IP, Product and
Globally also, economies which tion to the digital landscape of In- have 10,500 Services Development; and Disrup-
startups by
have fostered start up culture have dia, which has disrupted the entire 2020, with tion and Innovation.
seen exponential growth in their telecommunications landscape in tech startups l Economic Growth Engines - A
economies. Examples of US, Israel, the country and propelled the dig- expected to prudent individual saves something
China, Taiwan, Korea, Japan are ital growth in India. grow at 10- from the current income and in-
among others to cite. All the major As per a Nasscom study, India is 12% vests in future. This brings security,
digital household names like Goog- expected to have 10,500 startups by prosperity and peace of mind for an
le, Amazon, Microsoft, Facebook, 2020, with tech startups expected individual. A similar impact can be