Source | Linkedin | Prof Dr Ajit Patil Mumbai, India | Management Practitioner, Consultant, Professor & Writer
The Finance minister of India has given a major boost to investment by reducing the corporate tax rate drastically. The government has done its part well by pumping in the tax cuts of over $20 billion. Now it is the turn of the industry to respond. They have to now support initiatives of the government, ‘Make-in -India’ & ‘Start-up India’. In this article, I advocate the study of start-ups from Silicon Valley & China. The objective is to draw useful lessons from those two development models & refine our approach to the ‘Start-up India’ programme.
‘Start-Up India’ is a great initiative. It can be the vehicle to reach the target of $5 trillion economy. It can be the answer to increasing unemployment in India, as well. It has the potency to create wealth and increase the per-capita income of the nation & fight menace of poverty. But it appears to have lost the momentum. India needs a strong strategy, along with a support system & culture to make it successful.