Abstract

India is the second most populated country in the world and it s one of the biggest economies too but looking at its population it s still underdeveloped India s per capita income increased by only a 1 annualized rate in three decades after its independence In 2018 its GDP growth rate was a mere 6 386 The majority of India s population is in the lower-middle-class category This economic condition demands a better ecosystem to uplift and encourages startups that will help reduce unemployment in India India has become a status-driven society where risk-taking and audacious behavior are not considered ideal If this situation continues India will soon become a nation of clerks and government servants With unemployment rising and competitive exams getting tougher it s getting hard for talent to get what it deserves The below article highlights the challenges faced by the Indian Startup Ecosystem and why we need it