Inside Viksit Bharat@2047: Why Startups Are Central to India’s Future Economy

The Viksit Bharat@2047 Investor Roundtable Conference in Bengaluru highlighted India's focus on startups as vital components for achieving its vision of becoming a developed nation by 2047, with a $30 trillion economy

The government, through DPIIT, emphasized that entrepreneurship is crucial to India's growth, aligning public policy to support, scale, and de-risk startup ventures

Startup India, launched in 2016, has become a national innovation platform, addressing issues in capital, credit, and compliance through flagship schemes like the Fund of Funds for Startups and the Startup India Seed Fund Scheme

The conference underscored the importance of startups in addressing the pillars of the Viksit Bharat@2047 initiative: Youth, Poor, Women, and Farmers, with a focus on scale, sustainability, and inclusion

Key themes from the series of roundtables include tech for development, empowering youth through innovation, and making India a global startup capital

The Fund of Funds for Startups has catalyzed significant investment, supporting 22 unicorns and creating over 2 lakh jobs, with a focus on women-led and climate-focused ventures

The Startup India Seed Fund Scheme has decentralized innovation, funding 1,740 early-stage startups across sectors like agritech and healthtech, while the Credit Guarantee Scheme offers collateral-free guarantees to enhance venture capital access

The Section 80-IAC income tax exemption provides significant tax relief for startups, supporting their growth beyond survival

India's startup governance is evolving to become a strategic national capability, with ongoing policy refinements and consideration of new funds like the DeepTech Fund of Funds

The conference conveyed a clear message: startups are central to India's future, with a collaborative effort needed among founders, investors, and policymakers to ensure innovation is inclusive and sustainable