Today India is a country which is growing and emerging fast as a developing nation. It is also considered as a young country with majority of its population lying within the range of 15-40 years. This new and young India loves experimentation and thus we are able to growth of many startups some of which have even turned into million dollar businesses. But the condition was not the same some 30 to 40 years ago. At those times, people used to love their high paying jobs and were satisfied with a fix income and a safe happy and enjoyable life. However, with globalization and free flows of ideas, the new Indian youngsters don’t want to get employed, rather want to give employment to many people. This new India loves to explore, loves to discover new and innovative ideas in business which establishes a youngster to be a successful entrepreneur. Therefore, in the past 2 decades we have seen the rise of many successful Indian entrepreneurs.
Today, India is ranked as the world’s third fastest growing startup industries, thereby raising the bar of the startup boom and entrepreneur growth. According to the recent statistics, India now has over 4000 official startups, just behind UK (4500) and a little bit far behind USA (43,000). However, the ratio of startups in India is much more than that of UK and USA, thus growing fast to become the most successful startup nation in the world. With the Government of India providing great support to the concept of entrepreneurship and startups, more and more people are now dreaming to venture into the part of entrepreneurship.
Another reason why Indian youngsters are keener to start their business rather than to go for an employed job is the scarcity of a secure job. With the population of India rising to more than 10 Crores, it is certainly impossible to provide a job to all the eligible candidates. It has also been estimated that within 2010 to 2040 India needs to have at an average of 10 million jobs per year to satisfy the need of all its working population. This certainly seems to be a bit difficult. So many people are choosing a career of entrepreneurship to at least have a sound source of income.
Thus, India as a country is certainly harnessing the culture of entrepreneurship. This culture along with financial and social support from the Government can really boost the economy of India and can make it one of the most powerful nations of the world