Be it electronics, apparels, footwear,home appliances, fresh vegetables, groceries,sports equipments and the list is endless; every possible thing that one can imagine is just a click away owing to the recent trend of online startups. Could one imagine a few years back that we could even have virtual classrooms or could learn to dance, play guitar or even get driving classes without moving out of our cozy houses.
The Online Startups
The startup ecosystem has come a long way in the country especially in the last decade or so. People often discuss as to where the startups will head in the coming years but it is quite difficult to predict precisely as there is a lot of scope in the industry. If you take a look at recent statics, India has the fastest online start-up industry owing to the fact that it has become one of the favourite destinations of the foreign direct investors.
In this respect online startups in India have a pretty bright future.With more than 3000 tech startups India is the 4th largest base for young business in the world and it is expected that by 2020 the base will increase to 11,500 start ups according to a report by NASSCOM
Online startups and Digital India
Online start-ups with their unique solutions are witnessing increased popularity. The biggest boost given is the Digital India initiative launched by the government of India with an aim of transforming India into a digitally empowered society and knowledgeable economy by 2020. These movements will become game changing leverage for the online startups. So, the government of India is playing a crucial role in igniting the entrepreneurial spark in the country. Parallel to the government intervention the private ecosystem has also significantly improved over the last decade.
Also the way start ups work has involved a larger number of people. Startups utilize a casual attitude since their main goal is to make people as comfortable as possible so they can have the best performance.
India’s poor record on job creation has also improved due to the recent trend of startups. These jobs are a new dawn for the economy. The prospects of online startups reaching out to national and international buyers will eliminate the need for middle men and bring obscure rural handicrafts and arts to force. A confluence of factors such as new business opportunities in India, greater capital and a larger network of mentors indicate that Indian startup ecosystem is at the cusp of growth. According to a report of Nasscom titled ” Tech startup in India:A Bright Future” highlights key trends and forecasts that a fusion of mobile, analytics and Internet of things and software as a service will leapfrog opportunities for the Indian startup ecosystem
Despite of its diverse socio-economic environment, India is on the verge of creating a bright economic future for itself, ready to face the challenges ahead.