In the 70 years since independence, India has evolved from a downtrodden, struggling nation into an international force to be reckoned with. Aiding the government in this ambitious mission is an army of promising startups that are working to bring change by embracing technology, disruption and innovation. Hailed as the world’s third-largest startup ecosystem, India is currently home to around 5,000 to 5,200 tech startups, having added 1,000+ new startups this past year alone.
Predictions by NASSCOM suggest that the number will likely increase 2x within the next three years. Today, the Indian startup network is populated by a fast-growing group of young innovators and problem solvers who collectively amassed $3.6 Bn in funding in Q3 2017. The ecosystem’s phenomenal growth in the last few years can be attributed to PM Narendra Modi’s sustained efforts to encourage entrepreneurship through a plethora of startup schemes and campaigns.
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When it comes to bolstering the country’s startup ecosystem, the Department of Industrial Policy and Promotion has played a significant role, under the leadership of Secretary Ramesh Abhishek. Programmes like Make in India and Startup India currently fall under the purview of DIPP, which in turn makes Mr Ramesh a key person impacting industrial growth in our country.
An IAS officer who has held numerous positions in the public administration before joining DIPP in 2016, Mr Ramesh sat down with Inc42 for an engaging conversation about the Indian government’s ongoing initiatives for startups.