Startup India: Opportunities and Challenges

After an occurrence that was still tough in 2015, the country's young and budding businessmen received a mood-lift when Prime Minister of India confirmed on January 16, 2016, the Start-up India, Standup India strategy, simplifying requirements and easing tax laws. Judging by the large numbers, many of the high start-ups have already had a great start to the year. Three weeks into 2016, and almost $300 million has already been spent on the country's startups. ShopClues made headlines two weeks ago as, after its new investment drive, it joined the coveted unicorn group and is now worth $1.1 billion. Currently, job seekers are no longer running for corporate jobs and want a position in the start-up market. Young talent is increasingly entering the entrepreneurial ventures that give birth to innovative startups, along with massive funding rounds being raised. Although market places tend to continue to be the biggest money-spinner, other e-commerce segments, such as online grocers, hotel reservations, hotels, transportation, etc., do seem to expand. However, no single player seems to be accountable for any business. With enough room to support multiple players, all industries are welcoming further start-ups from grocery stores to luxury. Startup India's effect on the Indian economy and upcoming prospects is one of the main objectives of this article.