Role of Indian Startups In Achieving $10 trillion Economy

Abstract

Emerging economies are economies of emerging nations that are becoming more engaged with the global markets as they grow. Emerging economies are low-income, rapid-growth countries using economic liberalization as their primary engine of growth (Hoskisson, Eden, Lau, & Wright, 2000). They are characterized by an increasing market orientation and an expanding economic foundation (Bruton, Ahlstrom, & Obloj, 2008). Among the nations which have been identified as the upcoming economies India is currently leading the pack along with China. India has many advantages when compared to other emerging economies. The young population of India is one of its major strengths. The majority of the Indian population being in within the age of 35 is an advantage for the country. The Indian government has an ambitious project of becoming a 5 trillion dollar economy by 2024 and 10 trillion dollar economy by 2030. For this ambitious project to succeed the Indian businesses have to play a major role. Both established businesses and emerging organizations contribution will be crucial for the economy. The current paper analyzes the role of the emerging organizations that is startups in achieving the 10 trillion dollar economy. The paper examines the status of startups currently and what role they should play in the economy of the future. Startups are a new breed of emerging organizations. The study analyzes the current literature on startups and their role they should play in the economy to achieve the 10 trillion dollar economy.