8 Reasons That Make India The Next Startup Nation
By SiliconIndia
India, the home to unicorns
Bengaluru called the unicorn startup capital of India homes five unicorn startups of India. The list includes Flipkart, Ola, InMobi, Quikr and MuSigma. Snapdeal, Zomato and Paytm root from New Delhi. The recent one to join the startup unicorn club is Guragaon based Shopclues, an e-commerce site. This makes the country home to 5.7percent unicorn startups of the world. China, Israel, U.S., UK, South Korea are other countries that have unicorn startups.
Government schemes for startups
To encourage startup business and budding entrepreneurs, the government has launched fund schemes like Small Industries Development Bank of India (Sidbi) and India Aspiration Fund which definitely raises the scope for startups. The relaxed RBI monetary guidelines make it easy for startups to apply for these financial aids. Finance minister Arun Jaitley describes the schemes as, “You need to take millions of people out of agriculture into these sectors. One thing that’s going in India’s advantage is that India’s greatest competitor in manufacturing is facing a rising wage bill problem. We need to grab this opportunity and fill up the space.”
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