The development and growth of a nation depends on the betterment of all the three sectors of economy in which business ventures play a key role as they helps in job creation , goods production , and leads an economy into multifaced development but absence of startup culture, low oppurtunities for weaker sections and complexities involved in business creation has created a barrier in growth of new busineess ventures and thus debarred the growth of economy , to tackle the current situation , Government of India launched ‘Startup India,Standup India’ on 15th Aug 2015 under the Department of Industrial policy and promotion to boost enterprenuership and job creation in India.

The main objectives of the mission is the promote bank finincing of startups and provide a focused support for SC/ST , women and other weaker and improvished sections of society,simplify documentation for startup registration, fast patent registration, tax exemption for three years, creation of Startup India Hub and reservation of 10,000 crore funds.

Promotion of startups in India will directly help in job creation, empowerment of weaker sections,improvement in foreign investment,reduction in brain drain etc which in turn will help in development of our economy.

But, the problems of poor infrastructure, unavalability of funds, unskilled labour, absence of technical expertise , low research and development opputunities and unawarenees of people about enterprenuership are the major hurdles in the proper execution of the mission. 

Inspite of the challanges, “Startup India” is a futuristic step towards sustanaible and inclusive development of our country which will make our economy stronger and push us towards a better tommrow.