With India and Israel in the spotlight now, it is the most appropriate time to note how technological innovations have driven growth all over the world and brought prosperity to all countries. To be competitive in the world arena, it is important to nurture an 'Innovation Economy'.
India took big strides in its startup ecosystem with the launch of the 'Startup India' programme in 2016. Indian startups are now diversifying across various economic platforms and have unleashed technological innovations to meet India's unique challenges. Startup India is also fostering entrepreneurship and has catapulted the country to be the world's third-largest startup hub. In 2017, GoI also eased compliance requirements for foreign funding, recognising the need for India's startup ecosystem to attract FDI. This, in turn, would create jobs, and boost India's growth further.
