Startups- the need of the hour for a progressive future

My 2020 Vision for India is to transform it into a developed nation. That cannot be abstract; it is a lifeline” said Dr. A. P. J. Abdul Kalam. The vision was not accomplished. We are still in the developing stage only. The future of India lies in innovation and creativity. Innovations are essential for the development of a nation and for that startups are important. India is one of the fastest growing largest economies in the world. Therefore, the Indian market is perceived as being competent of offering plenty of opportunities for startups. To encourage innovation and to promote entrepreneurship in India Prime Minister Narendra Modi has launched Startup India Initiative in 2015.The fund allocated for Startups by the government was enormous. Startup India initiative aims at strengthening entrepreneurship and promoting innovation by creating an ecosystem that is helpful for the growth of entrepreneurs. People must come forward to become job creators rather than job seekers. NASSCOM report of 2019 stated that 3, 90,000 to 4, 30,000 jobs have been generated through startups. India is today experiencing a fundamental shift with entrepreneurship & innovation being primary promoters in job creation and solving everyday problems. Employment problem have also been reduced due to this Startups. This paper aims to emphasize the importance of startups as the need of the hour for a progressive future. Based on the financial data provided in this paper, economic growth will be developed because of startups. So startups can change the economy growth into higher.