Global rise of Indian Entrepreneurship
Once a nobel laureate said -
"You cannot discover new oceans unless you have the courage to lose sight of the shore."
The above quote by André Gide aptly projects the dynamic and risk taking attitude that any entrepreneur needs to inculcate. Adhering to the similar approach entrepreneurs of our nation has certainly elevated the stature of India across the globe. Last few years saw the emergence of numerous budding enterprises and startups that has greatly contributed to the Indian economy and have added value to the lives of common people by addressing their grievances . Their success stories have grabbed the global headlines.
One such achievement is India's improved global rank in possessing no. of Unicorns.
But wait, what is a Unicorn?
Whenever we come across this term, our brain is quick enough to think of a fictional character of white horse with wings and a thorn on its forehead. But, that's certainly not a case with entrepreneurship. Yes the idea of fictional Unicorn can be associated with depicting rise, strength and emergence of new startups.
In the world of enterprises, the term UNICORN refers to a privately held startup that has reached a valuation of $1 billion. India now has 54 unicorns. The country has overtaken the UK to rank third in the global ranking & is just behind US and China, according to the report published by Hurun Research Institute. Main reason behind India's massive leap is the addition of 33 unicorns in the last year. The report revealed that around 81 per cent unicorns are in the IT business, specifically selling software and services. The rest are involved in the business of selling physical products and ecommerce. Not to forget this achievement has come post pandemic economic recovery phase.
India is proving its mettle of being an emerging economy and providing favorable conditions for any startup to flourish. With the successful implementation of various government initiatives like start-up India stand-up India, SAMRIDH, start-up India seed fund, MUDRA bank, Atal innovation mission, all these schemes need to be reached up to the root level of the country to facilitate the needy ones as well. Providing subsidies, cheaper interest on loans and making the best use of newest technological reforms and social media marketing is the way in front of India to sustain the global start-up competition and eventually increasing the nationwide tally of unicorns.
With this recent achievement of unicorn no. India has certainly added one more feather in its wing. Future of Indian entrepreneurship is witnessing a new dawn with startups scaling such great heights, the graph of Indian entrepreneurship is all set to move upwards.
-Author :Kartik Bajare
Recent Posts:
Designed and Developed by Web and Tech team