What is Start-up India? A Step to rebuild India

About the Start-Up India Mission:-

Start-up India is an initiative by the Government of India. This scheme was announced by the prime minister of our country Shree Narendra Modi while he was giving a speech on Independence Day 15^th August, 2015. This scheme was launched by the Ministry of Commerce and Industry. This scheme is only for the start-ups who are just discovered and don’t yet have much turnover not to the old already established profitable businesses. There are many eligibility criteria if some start-up or business want to take its business benefit. The primary goal of launching and implementing this scheme was to promote the Innovation and for economic growth in the country.

Aims and objectives:-

Start-up India name suggest what is it targeting and here below are some aims and objectives which are written below:-

1. To promote the Ease of Doing Business:- The primary objective of this government scheme was to make people more enthusiastic in doing a business with less risk of failing. As we can see in India, the culture of doing businesses are not so promoted among families. Everyone want a stable government job with no risk. But taking risk without the unnecessary burden of paying taxes is crucial to promote it.
2. To give funding support to people:- In doing any business, an investment of money is needed and the reason why people don’t do it is the risk and the large investment. In this scheme it was an objective to give a funding support to the enthusiasts who want to be entrepreneurs. This resulted in the establishment of an organization that is Fund of Fund for Start-ups.
3. IPR Protection:- IPR stands for Intellectual Property Rights. This initiative of the government gives a security to the start-ups to get filed trademarks and patents and protect the IP of businesses and start-ups.
4. No stress of giving Tax:- The business and start-ups who will register themselves in taking the advantages of this scheme can do it without any stress of giving high tax and they can take advantages of three year tax holiday which will help in encouraging the common people to do business with less stress.
5. Networking:- This initiative of Start-up India have an objective of promoting Networking and collaborations among business and start-ups, industry association and educational institutions which will help in exchanging each other knowledge and increase the partnerships among the start-ups.
6. More job creation:- The job created after the implementation of this start-up India scheme was huge. The objective of this scheme was to create more job opportunities for youth in this initiative in the corporate sector of the country. When more business will get establish it will ultimately result in creation of jobs for the young people.
7. Women Empowerment:- The start-up India scheme by government focusses on also providing the benefits to women so that they can grow and earn. Women cover in our population to a large degree so it’s important to women to contribute in this economy. Also this helped in making women more self-dependent and empowered by giving them an identity too.
8. Aatmanirbhar Bharat:- Start-up India mission was to make our country more self-reliant and focusing on increasing exports and decreasing imports. This helped India to grow of goods which we use to buy from other countries. For an instance, we have witnessed a more self-reliant toy market.
9. Promoting culture:- This scheme of government and giving significance to the business ecosystem helped common people to understand the importance of doing business which promoted youth participation in doing a business and giving jobs to others. This mindset was important to encourage.
10. Economy Boost:- The scheme by government have just one main aim which was to boost the economy of our country. In a country, it’s businesses are very important to raising standard of living and growth.

Progress of Start-up India:-

1. This scheme helped in promoting the advantages of doing business and encouraged people to do their own venture and get Aatmanirbhar with less interference of government and more Liberalization. This initiative of government biggest achievement was that it created an impact on the youngster to do business and a hype in becoming an entrepreneur. This is a fact that this scheme resulted in creating 3^rd largest ecosystem of start-ups as compared to the whole world.
2. Our country have seen a rise in Number of Start-ups which is about more than 30,000 as of the data of 31^st march of Financial year 2020, registered in DPIIT which is Department of Promotion of Internal Trade and Industry.
3. This resulted in the elevation in the number of women running start-ups too, according to the data by Startup India official website which was 14% raise in the previous years it was 11% and 10%.
4. There is an increase in number of jobs in the market, though this sector transform itself with time the dynamic nature of this private sector is always noted. With development in technology and innovation the type of jobs also changes. In this scheme, it promoted the number of jobs too which rose to 1.6-1.7 lakhs.
5. Bangalore is the one city which have seen many start-ups after this scheme implementation. It is one of the five cities who have seen growth after this scheme implementation.
6. The best performers of this scheme are Gujarat and Andaman and Nicobar Island, Top performers are Karnataka and Kerala. Many states participated in this scheme.

Way Forward:-

There is always scope to reform in schemes and following ways to implement it in a better way.

1. More promotion of the culture among parents as young people needs parents support to do anything. It is important to do campaign by schools and college to persuade parents indirectly and directly.
2. We need to promote skills in students a lot. The worst in our education system is to just focusing on theories and on things which are of no use in later phase of life. Relatable education with time is important like teaching them scopes of skills, conducting master classes by people who are already skilled in a category. Hard skills education and knowledge of various discipline can go hand in hand. The focus should be less on exams and marks but more on productivity and knowledge. This will help them to get eligible for the jobs.