Entrepreneurship in India has been growing significantly in the past decade due to a strong supporting ecosystem- dynamic business environment, advancements in technology, increased internet and device activation, changing consumer needs and out of the box solutions to business problems.
India has witnessed the rise of a large number of successful start-ups in recent years. These entrepreneurship ventures have targeted genuine consumer needs and introduced innovative and effective products/services to cater to those needs. These solutions have completely revolutionized the industry norms and standards. These startups are growing at a rapid pace and are ready to challenge established companies across the world.
A few of these industry-disrupting startups are Oyo, Swiggy, Paytm, Flipkart, Udaan, Delhivery and Byju’s. From food to housing to marketplaces to ed-tech, Indian entrepreneurship is taking long strides in all fields.
Entrepreneurship in India has evolved over a period of time. It has had its phases of growth in terms of Business to Consumer (B2C), fintech- especially digital payments and more recently Software as a Service (Saas) . India is evolving from an emerging market to a fully grown startup ecosystem with a ton of technology oriented startups and world class investors.
With high entrepreneurial spirit and continued investor interest (both locally and globally), the Indian Startup future looks very bright. Evolution and growth of Indian startups may witness new dimensions based on the changing needs of the business environment and the quality of resources at our disposal.
Today’s Indian startups have become role models for global companies with their innovative products, effective business models and exceptional execution techniques. This massive global appeal along with supportive government policies make India’s start-up industry key for the future of the Indian Economy.