Entrepreneurship has been a major practice for centuries in India.Traders traveled across the sea and continents to sell or buy commodities.Even in today’s day and age alot of Indians have gone abroad to start their own business, big or small.
India is very rich in terms of human resource.While it has a billion strong workforce there also exist millions of small, medium and big businesses.These business combine to form a large share of GDP of India.
Start-up India is the kind of an initiative which could make India the most happening destination an help India overtake Israel in terms of entrepreneurship.
The MUDRA yojana is a perfect example to provide capital to budding entrepreneurs at a very low interest rate without any collateral.
Other than that, the tax holiday which new entrepreneurs get helps them to reinvest the money back into their business which leads to growth.
Different angel investor networks and entrepreneurial networks have welcomed this move, as it will create the kind of atmosphere where more professionals would like to use their work experience to create new innovative business which either offer a unique product or service.
It will take around 5-10 years to actually show the effect of this initiative since most of the business do not make much money in their first 3-5 years but either way it has created a euphoria especially amongst youngsters who have set their eyes on being the next zuckerberg or larry page