India as a Start up Friendly Nation

In the fast changing field of business brand name is the spearhead of the firm. From small scale industries to large multinational conglomerates, all of them are in a drive to create an initial position of their brand name in customer’s mind. In this fast paced world, it’s the most challenging factor. In a competition between several brands, each brand is trying to create a customer acceptance with a ‘buy me’ motto. A product will be able to grow as much as its brand image is reflected in customer’s mind. From creating a brand label to finding a top spot in the marketing tables a huge effort is needed for the part of the company to create it. So we can unanimously say that persistence of the brand name in customer’s mind will be the success mantra of a firm.

Thus a firm can remain in a successful position in the competitive field of business. To achieve it effective brand communication strategy is needed. Effective branding is the much needed trigger factor for a start-up, especially for a developing country like India.

Projecting an effective information regarding the company and its product to the customers, in the right way will enable them to endure the product. From start- up giants including Microsoft, Google, Apple and Reliance to ID Fresh, a Bengaluru based food manufacturing company who turned heads in the startup world which falls under the same category.

Compared to other countries, India have a number of schemes which supports the start -up initiatives. The central government itself is promoting and allocating such various schemes under MSME (Micro Small Medium Enterprises) Ministry and other ministries also. Within the last four years Central Government has introduced more than 50 schemes for the start up support. Software Technology Park Scheme, Coir Udyami Yojana, Stand Up India , Technology Development Program, SPARSH are some of schemes announced by the Central Government.

Rather than the tax related issues India is considered as most start up favorable country globally. It will only possible through proper planning. Besides aiming a rapid revenue growth, the entrepreneur needs to focus on effective customer acceptance.

In a period where technology is at its highest peak , marketing the product even by the small scale industries through online platform will enable them to gain rapid growth effectively with low cost. This tactic will enable start-ups to introduce their product to the entire market world simultaneously. With the initiative, we can ensure that Indian start ups can also attract the foreign business world to our country. More than 1000 startups were launched in India in 2017 itself. The majority of the start-ups were introduced in the field of technology. With more than 5200 start ups, India is ranked on the 3rd position among the start-up ecosystems globally. The statistics itself shows that India is a fertile soil for start-up companies to begin with. Thus we can hope that India will be able to attain heights in this field.

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