Problems and challenges of startup units in India

India is the second largest populated country in the world with a population of 1.2 billion. The job market in India has immense potential to cover this huge population. To this extent, the Government of India has taken initiatives to promote bank financing for startups and provide incentives to promote entrepreneurship and job creation. Startups have been the flavor of the season in the Indian markets over the years. This has resulted in the rise of several domestic startups across India. One of the major contributors to this growth has been mega funding. It is pledged in most firms between the period 2007 and 2015. This has been achieved in line with the global trend that is dominating the space. Aspiring firms have also fared well during this period, where managing to find investors is generally considered a difficult task. Betting big on Indian innovation has become a matter of global interest. Prime Minister Narendra Modi launched an ambitious program called Startup India Standup India. It was aimed to revolutionize and accelerate the startup revolution in India, which is already seeing strong traction. However, the road to success is not as easy as it seems. Indian businesses are suffering from various problems like unorganized and fragmented Indian market, lack of clear and transparent policy initiatives, lack of infrastructure, lack of knowledge and risk aversion, complexities in doing business, etc. At least now they are being recognized as issues and need to be addressed. The framework and curriculum of rules should be updated and adopted as per the changing times. It is the duty of the policy makers to announce the right policy to bring in and bring startups to India.