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created Mar 14th, 12:08 by ashish gupta



397 words
10 completed
The year 2018 has been a watershed for Indian startups and the venture capital industry. With landmark deals led by the Walmart-Flipkart acquisition, increased investments by the likes of SoftBank and Alibaba and a surge in young professionals wanting to become entrepreneurs, India continues to consolidate its position as the worlds third-largest startup ecosystem. Now there is no looking back. We should now strive to become the worlds largest and the best startup ecosystem. These are not just lofty, feel-good goals but ones that can transform our country at multiple levels. Consider the conventional role and responsibilities of a venture capitalist . At present, the sits at the centre of a universe that has investors at one end and founders at another, managing the funds of the former and guiding the latter to scale so that there are handsome returns for everyone who has skin in the game. While this remains the primary reason for a existence, there are two more stakeholders in this domain the government and the average citizen. As a originating from and based in India, I believe we also have a responsibility towards those who govern us and my fellow Indians. As part of a larger ecosystem,  have a significant responsibility to facilitate dialogue and cooperation with the government so that policy making is realistic, enabling, and also creates a conducive framework to encourage the spirit of entrepreneurship in India. We need to ensure that progress is not derailed by sudden jolts such as the angel tax and the new e-commerce policy. We need continuity and at both the planning and execution stages at the policy level, combined with a robust involvement of the stakeholders in the entire decision-making process. The Centre for Monitoring Indian Economy a private think tank, has calculated India unemployment rate at Both the and have found the jobless rate among the youth is significantly higher.  So, with inadequate government jobs and a slow uptick in private sector jobs, it is time entrepreneurship is seen as a serious alternative. More recently, universal basic income is being flaunted as the panacea to almost all our problems. In an election year, there are bound to be debates on both sides, but every right-thinking person knows that sustainable job creation can happen only when governments do not need to intervene in the funding of entrepreneurship, be it at the microfinance level,

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