Vol. 2, Issue 4 (2017)
Start-ups in India: Challenges and government support
Author(s): Barkha Jamwal, Umesh
Abstract: In our growing economy, the seeds of tomorrow’s trees are being sown by young hands of the country. The generation is more attracted towards creation of jobs than in getting a job. Today many of the young hearts have a dream of starting their own business; in short they want to hire and not to be hired. Indian Economy is one of the most preferred destinations for foreign investors and has always been considered as the pool of opportunities. Government is also in many ways helping the newly born enterprises in surviving and to convert them into profitable ones. It has been witnessed that most of the start-ups fail in acquiring a status of well-established business due to lack of funding, competition from experienced players which makes the environment unsuitable for the growth of such ventures. This paper talks about the challenges and opportunities of starting a startup in India and what the government is doing in this regard. Various government initiatives like Make in India scheme, Startup India, standup India, MUDRA scheme, changes in Budget 2017 that raises the exemption period of income tax from 3 out of 5 years to 3 out of 7 years etc. are the proof that government is serious about the growth of this sector and is doing all it can to make it a success.