IMPACT OF STARTUPS IN INDIAN GDP IN 2022
Keywords:
GDP- Gross domestic product; Start-ups; Unicorn; Financial benefits; Indian economy; Macroeconomics; Impact on economy; Indian business.Abstract
Indian start-ups have made their mark on the global stage. The ecosystem's rapid growth and maturity have unleashed a tremendous appetite for scalability, alternative funding options, global market expansion, and the ability to enable millions of jobs. This meteoric rise of start-ups has made India the world's third largest start-up ecosystem, and it has had a significant impact on the Indian economy, demonstrating the ability to contribute approximately 4-5 percent of India's GDP. This report aims to highlight the impact of start-ups on the Indian economy, as well as the ecosystem's inherent ability to foster inclusivity, sustainability, and growth. Start-ups do not exist in isolation; rather, they are part of a larger corporate environment dedicated to developing solutions with significant social and economic impact. Because start-ups are incubators for cutting-edge inventions, they create jobs, which means more career opportunities; more employment leads to a stronger economy, and a stronger economy has a direct impact on the growth of cities where start-ups are located.
