(GIST OF YOJANA) Opportunities for Youth in the Startup Ecosystem

(APRIL-2023)

India is home to one of the largest youth populations in the world. According to the United Nations, India has over 356 million young people aged between 10-24 years, which accounts for over 27% of the country’s total population.
In contrast, developed countries such as the United States and Japan have significantly smaller youth populations, with 64 million and 22 million young people, respectively.
This demographic advantage presents several opportunities for the Indian startup ecosystem.

The Union government has launched several initiatives to promote entrepreneurship and innovation in the country.
The ‘Startup India’ initiative, launched in 2016, aims to create a conducive environment for startups to thrive in India.
The initiative provides several benefits to startups, including tax exemptions, access to funding, and simplified regulations.
Out of the $950 billion in FDI received since independence, $532 billion came since 2015 from 162 countries in 61 sectors to the 31 states & UTs.
With the initiatives like Digital India, broadband connectivity in villages drove the growth of the startup ecosystem.
‘MAARG’ portal is helping innovators and startups from remote areas to get access to crucial opportunities and funding ecosystems.

In the Union Budget 2023-24, the Union Finance Minister talked of making India a knowledge-based digital economy.
The Government of India is moving towards 100 percent digitisation of government processes to make them more citizen-centric.
Under this, a Digital Public Infrastructure will be developed for the farmers of the country.
ICMR labs will also be made available to private medical colleges and private sector R&D companies to promote health-based research.
A new programme will be started through the Centre of Excellence to promote research and innovation in pharmaceuticals.
District Institutes of Education and Training Centres will be developed for revolutionary change in the training of teachers. A National Digital Library will also be built.
Under the Pradhan Mantri Kaushal Vikas Yojana, skills and training will be given for artificial intelligence, coding, 3D printing Things.

India recently launched its National Logistics Policy in 2022, which aims to create an integrated and efficient logistics ecosystem in the country.
The policy has several provisions that could benefit startups in the logistics sector.
For instance, it encourages the development of logistics parks and multimodal logistics hubs, which could provide startups with access to better infrastructure and facilities.
It also promotes the use of technology in logistics operations, which could help startups streamline their processes and reduce costs.
The policy also emphasises the importance of skill development and training for the logistics sector, which could benefit startups by providing them with a pool of trained professionals to hire from.

The innovative youth must be commended for raising the flag of India. It is because of them alone
that India's startup ecosystem is creating waves in the world today.
It is the strength of India's startup ecosystem that it is constantly discovering itself, improving itself, and growing in strength. It is constantly in a learning mode, in a changing mode, and adapting itself to new situations.