Impact of Demonetization on Startup Industries in India

GIS SCIENCE JOURNAL, 2021

A startup is a young entrepreneurial, protractible business model built on innovations & technology wherein the founders develop a product or service for which they anticipate the demand through interruption of existing or by creating entirely brand new markets. The economy of every country depends on its countrymen. Larger the number of employed or working people, better the economy. The Indian Government realized that Indian people have a potential to work hardly, all they need is a promising start up. Many people dream of starting up their own business but due to financial or other similar issues are unable to do so. So, Indian Government in the leadership of Narendra Modi has decided to offer a gift as a nation wise programme-"Startup India". "Startup India is a revolutionary scheme that has been started to help the people who wish to start their own business. These people have ideas & capabilities, so the Government will give them support to make sure they can implement their ideas and grow. Success of this scheme will eventually make India a better economy and a strong Nation." Startup India is an initiative of the Government of India.

Journal of Management and Science, 2019

India is the second largest populous country in the world and it have more youth power than other countries and at the same time it have more unemployment rate, its unemployment rate is 3.43% which is huge when compared with its population. To control this unemployment our honourable Prime Minister Narendra Modi has taken a step to eradicate unemployment,and initiated a campaign Start up India. This is an action plan in this Banks will finance for start-up ventures. It is organised by Department of industrial policy and promotion (DIPP). There are various schemes available under this and the person with innovative ideas, will be benefited by this scheme. This creates an employment opportunity for many job seekers. Start-up India is launched in the year 2016, and by 2025 unemployment rate will come down to half because this creates many job opportunities. And this will improve our economic growth of our country. Many small and new entrepreneurs will be benefitted by this. Soft bank w...

Journal of Management Studies and Academic Research , 2021

The COVID-19 pandemic and the extended period of lockdown caused massive disruption in Indian start-up ecosystem. Strict restrictions on the movement of people and goods increasing both demand and supply side risk, lack of willing investors to back up risky ideas and above all a global recession looming in, made the existence of Indian Start-ups too much difficult. However, Indian start-ups have risen to these challenges threatening the very existence of start-ups, and have been utilizing the promising opportunities brought in by the New Normal. A number of sectors have succeeded in ensuring double digit growth figures amidst the pandemic crisis and are likely to continue their growth with the innovative product and service offering in future as well. The present article is a sincere effort to elaborately highlight on the success of these Indian start-ups who have fought back the challenges of the New Normal.

A startup is created company, partnership, or venture that aims to quickly expand an innovative business concept. A startup is a young, up-and-coming firm that takes a proactive toward creating a lucrative business model. An MVP (Minimum Viable Product) is a prototype used by startups to test and refine their fresh ideas and approaches to doing business. In addition, the company's founders engage in extensive studies and surveys to learn more about emerging ideas, technology, industry trends, and commercial opportunities. To affirm the ownership, dedication, and contributions of founders and investors, a shareholder agreement needed to be agreed upon early on. The main aim of the research was to understand the start-ups and their significance and to measure the awareness level among young people about the Startup India-Progress towards Development and Harnessing Innovation highlights and to study the performance of startups as well as the role of various stakeholders. The research was undertaken in the month of October 2022. It is descriptive in character nature. A convenient sampling technique is used for the study with 150 participants as the sample size. People between the ages of 25 and 45 who express an interest in starting their own businesses are given preferential treatment. Google Forms were used for the collection of information from them.

2021

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

IRA-International Journal of Management & Social Sciences, 2018

November 8th, 2016 was a path breaking day in Indian economy when Govt. of India has demonetized the high value currency notes and replaced with new notes of Rs.500 and Rs.2000. This move Govt. was taken to clean the black money from the market, to inspire digital economy and to reduce the ‘Cash’ payment culture of some people for tax evasion. The overnight decision changed the life of many people in India. Thousands of people they waited in long queues in front of Banks, ATMs for money. Entire social life of people throughout the country got distracted. Many poor daily wage workers were left with no job and income as owners were unable to pay their daily wage because of less cash, around 15 lakh jobs have been obsolete during this one year. Despite Govt. of India has taken a bold step to make India corruption free and inspire the people in cashless transaction but after one year can we say India is really corruption free? Can we observe any significant improvement in cashless trans...

IRE Journals, 2019

Entrepreneurship plays a significant role in the economic development of any country. Entrepreneurship acts as a pillar for the economic prosperity of a nation as it leads to generation of employment, contribution in national income, rural development, industrialization, technological development, export promotion etc. In India, various initiatives have been taken by the government from time to time for entrepreneurship development in the country. Entrepreneurship has attracted the attention of policymakers in India. A series of high-level initiatives, including Startup India, have been launched to promote private sector development. However, the role of entrepreneurship in development remains a mystery for many policy observers. The main purpose of this paper is to study about Entrepreneurship in India and its Promotion Under 'STARTUP INDIA' SCHEME. This study was done based on secondary data collected from multiple sources of evidence, in addition to books, journals, websites, and newspapers.

International Journal for Research in Applied Science & Engineering Technology (IJRASET), 2022

The government of India characterizes a startup as an element under seven years youthful with a yearly turnover of under 250 million rupees and settled in India. The Startup India driven by the country's Department of Industrial Policy and Promotion helps construct a positive, powerful biological system in the nation, transforming business thoughts into a reality for a prospering startup climate. States and associations domains the nation over presented startup arrangements following the public authority's drive. In the case of traditional and older companies in India, there is a sudden urge for these companies to adapt to the changing market environment to tackle this situation in a good manner. In this paper, we reviewed the various studies done on the economic growth of the Indian startups and older companies in India in the last decade. From this, it was clear that there is a sudden emergence of individual entrepreneurship among the youngsters of India. This indicates that the startup culture in India is booming in this period which can play a vital role in the emerging Indian economy and also in the global markets.

International Journal of Current Research, 2020

Start-ups are much-needed shields to drive the developing economy like India. In today’s competitive arena, start-ups entail numerous benefits in terms of leading the innovation in turbulent times. Our line of focus is on start-ups because they are strongly believing sustainability as the new currency when compared to profitability which helps to foster the economic, social, and environment quadrants. in other words, it is a mutually progressive instance for both talented aspirants and organizations. This study covers the vital impacts of start-ups on decrementing the unemployment rate in India and covers how the start-ups counter the crisis situations, which in turn helps in the holistic development of this knowledge-based eco-system.

An increasing number of new generation start-ups in the technology/knowledge-intensive industries have created something of an "euphoria" in major cities of India. This paper discusses the salient features of the start-up ecosystem that has emerged in our country, its adequacy for start-up promotion, and the measures needed to strengthen this. As a prelude, the paper traces the origin and phases of start-up growth in India, and its employment contribution, relative to the organised sector. The paper concludes with an emphasis on the need for a steady increase in new generation start-ups as a means of productive employment generation, economic transformation and growth.