A visionary industrialist, philanthropist, and one of the most influential global business tycoons, Rata Tata once said these words and we can now see them turning into a reality.
Since the advent of the pandemic in the year 2020, the way users react to the products and services around them has undergone a tremendous change. People have understood the many advantages they can consume from the integration of automation and technology in every aspect of their day-to-day life. From ordering food online to receiving medical supplies, makeup products, and homeware at doorstep, these days everyone is engaging with online businesses more than ever. As a result, many startups that were struggling to survive before COVID, are today ready to win the markets and transition into the companies they aspired to be.
Over the years, India has successfully become one of the fastest-growing economies in the world. In fact, as per a recent research report released by State Bank of India, India is at present the fifth largest economy, overtaking the United Kingdom, and is on its way to achieving the title of ‘third-largest economy’ by 2029 considering the current growth rate.
Lately, global investors have been addressing India as a nation with exceptional potential. The untapped markets, advanced technologies, large population, low-cost labor, incredible minds, and a variety of government initiatives have made this country the best destination for startup investments. And clearly, our startup ecosystem has a crucial role to play in facilitating the rise of the Indian economy.
Meanwhile, the current rate of smartphone growth, digitization increase and the unique set of challenges to solve in our country are also driving innovation among many startups solving for
Since the inception of the ‘Make in India’ initiative in the year 2014, the central government has introduced several schemes and programs to offer necessary training, skill sets, technical and financial guidance, and subsidies in order to fuel the growth of small-scale entrepreneurs. With the massive support lent by the government, the individuals not only get to make a name for themselves in the local markets but also receive the accessibility to attract the attention of foreign investors.
On 15 January 2022, Prime Minister Narendra Modi declared 16 January as ‘National Startup Day’ to acknowledge as well as accelerate the growth of the Indian startup ecosystem. He told the young entrepreneurs of the country – “
Don’t just keep your dreams local, make them global”.
Here are some of the top government schemes every budding entrepreneur should know
These are some of the schemes and programs introduced by the government over the last few years. You can easily enroll yourself in schemes that dovetail completely with the vision and requirements of your business and can help it reach greater heights.
India, as a nation is gradually paving its way to the golden era of entrepreneurship by consistently promoting the idea of Atmanirbhar Bharat. The objective of these schemes is not only to aid and nurture the existing small-scale businesses but also to provide a stepping-stone to all those who wish to enter the startup ecosystem and make a difference to it.
Start from SMALL, but think BIG!
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