Indian Startups: Analyzing Their Vulnerabilities and Prevailing Challenges

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Indian Startups: Analyzing Their Vulnerabilities and Prevailing Challenges
Article · December 2019

DOI: 10.21844/smsjei.v6i01.17665
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Indian Startups : Analyzing Their Vulnerabilities &Prevailing Challenges
SMS Journal of Entrepreneurship & Innovation
6 (1) 61-79
https://doi.org/10.21844/smsjei.v6i01.17665
Ritesh Dwivedi*
Startups have been the fashion of commercial markets over the last few years in India. Lack of Government
support and stringent policies for setting up the startup makes the process difficult. However with the
improvement in the policies regarding documentation work, banking facilities and other helps from
government departments, the startups have surged in past few years. Leftover complicated procedures and
regulations should also be studied and resolved as soon as possible. This study has tried to look into these
aspects and reflect the prevailing situation at ground level. Study has explored the effect of demonetization
and GST implementation on the startups as well as analyzed the overall performance of the startups across
many sectors. Study found funding as the most important factor for the survival of startups and easing up the
government rules and regulations have also been the priority area for the startups. Startup India initiative is
well known to startups but new entrepreneuris expecting more supportive and responsive ecosystem.
Keywords: Startups, Problems of Startups, Startup Challenges, GST & Startup, Vulnerabilities of startup
Introduction: understanding of new concepts, technologies,

ideas, market concepts and commercial potential.
A startup is basically a small newly opened Then a shareholder's agreement (SHA) required
organization which in form of a small business, a agreeing on early stage to confirm the ownership,
partnership or a small venture formed to grow commitment and contributions of founders and
rapidly a new business model.In other words, investors.
startup is a new young company which aims to
work with dynamic approach to develop a business India is the third largest base for the startups in the
model which earns huge amount of revenue. world and has a great market for various products.
Typically, a startup starts with the beginning of But the failure rate of startups in India is
building Minimum Viable Product (MVP), a significantly very high. And around 90% of the
prototype, to assess and develop the new initiative startups in India have to finally shut down due to
and business methods. In addition of this, the various factors.
founders do researches and surveys to deepen their
Assistant Professor, Amity Business School, Amity University UP, Noida , Email: ritesh_hariom@rediffmail.com, Mobile: 7291001299
Vol. VI, No. 1; December-2019

62 [ ISSN 2349-7920 ] SMS Journal of Entrepreneurship & Innovation
1.1 Startups in India
14000
12000
10000
Number of Startups
8000
6000
4000
2000
0
Tech Startups Non-Tech Startups Total
Type of Startups
Source: Nasscom Report 2017
The number of startups in India is increasing day by Government Initiatives for Startups
day as people are now more interested towards
entrepreneurship and the improved government Now a day's government of India is taking lot of
policies and working environment is making a steps towards the development of startups. There
suitable place for startups to grow and nurture. are some schemes launched by Indian government
Currently, around 11500 startups are there which is headed by different ministry and further
operating in India. There are around 5200 tech- headed by various departments. Some of the
based startups, and around 6300 non tech based schemes are: -
startups presently working in India.

Indian Startups:Analyzing Their Vulnerabilities &Prevailing Challenges 63
Table 2
Name of The Scheme Headed By Industry Applicable Fiscal Incentive
Support for International Department of IT Services, analytics, Up to INR 15 Lakhs for each creation or half of
Patent Protection in Electronics and enterprise software, the aggregate costs brought about in
Electronics & Information technology hardware, documenting and handling of the patent
Information Technology Technology Internet of Things, AI application up to give, whichever is lesser.
(SIP-EIT) (Deity)
MSME Market Office of the Sector-agnostic Provides air fare reimbursements based on
Development Assistance Development category entrepreneur lies in (General, women,
Commissioner SC/ST/PwD). It add up to sponsorship on air
(MSME) passage and space rental charges will be
confined to INR 1.25 Lakhs for every unit.
Coir Udyami Yojana Coir Board Agriculture It add up to endowment on air toll and space
rental charges will be confined to INR 1.25
Lakhs for every unit. The measure of bank
credit will be 55% of the aggregate task cost in
the wake of deducting 40% edge cash
(appropriation) and proprietor's commitment of
5% from recipients.
Raw Material Assistance National Small Sector-agnostic MSMEs will be benefited financial aspects of
Industries buys like mass buy, money rebate, and so forth.
Corporation Additionally, every one of the methodology,
(NSIC) documentation and issue of letter of credit if
there should be an occurrence of imports will be
dealt with.
Bank Credit Facilitation National Small Sector-agnostic N/A

Scheme Industries
Corporation
(NSIC)
Software Technology Software IT services, fintech, Deals in the DTA up to half of the FOB
Park (STP) Scheme Technology Parks enterprise software, estimation of fares is admissible and
of India (STPI) analytics, AI devaluation on PCs at quickened rates up to
100% more than 5 years is passable.
Pradhan Mantri Mudra Micro Units Sector-agnostic MUDRA offers impetuses through these
Yojana (PMMY) Development and mediations:
Refinance Agency >Shishu: covering credits upto INR 50,000/ -
Ltd. (MUDRA) > Kishor: covering credits above INR 50,000/
- and upto INR 5 Lakhs
>Tarun: covering credits above INR 5 Lakhs
and upto INR 10 Lakhs
(Source: Startup India website)
Research Objective · To study the effect of different barriers such as

demonetization and GST on startups
The research has the following objectives.
· To study the performance of startups as well as
the role of various stakeholders

literature review for the startup to flourish and with the changing
needs and demands, some new innovations and
Macmillan et al (1987) investigated the major more optimized form of working and constant need
differences between a successful and non- of changing is an important aspect. Success of
successful venture by investing 150 ventures as per products largely depends upon management of
5 major criteria. This study found two factors distribution channels in the target market.
insulation from competition and demonstrated Company has to upgrade the product over the time
market acceptance of product responsible for the to meet the expectations of customers (Appu &
venture's success. Balaji, 2018).
Bosmaet al (2004) had concluded that an Kumar (2015)analyzed the suitable environment
investment in human and social capital tends to for startups within India and other countries and
increase the performance of the entrepreneurs. At found India as one of harshest environment for the
the same time they established importance of start-ups to grow. Government had also taken
innovations used towards improving the various measures and simplified the various rules
performances of human and social capital. The and procedures to smoothen the process for setting
study also reveals that a skillful individual up a start-up. However, due to lack in breakthrough
entrepreneur is more likely to perform better in the innovation, there was some hesitation in initial
industry over others. Astebro and Bernhardt findings for the startups. Incubator and accelerator
(2003) explored negative the relationship between culture had somehow, provided the relief to the
fresh ventures and bank loans and positive start-up ecosystem within India.
relationship between non-banking loan and
venture survival. This whole study was conducted Research Gap
on small businesses launched in US 'between'
1987-1991. A lot of female entrepreneurs are also Above discussed research papers and studies have
venturing in the business and giving tough fight to explained different dimensions related with
their peers. Female investors are working and their startups. After going through all of them some gaps
stock picking skills are good and they generally such as employee issues, funding pattern and
invest in financial market (Shukla, 2018). challenges, government support, credit and
taxation problems, reasons of failure etc. have been
Day et al. (2004) mentioned the need of identified and covered in this study. Itanalyzed
broadening the concept of the leadership in case of prevailing challenges and vulnerabilities to
startups and stressed upon the emergence of the explore and develop better ecosystem for startups.
shared leadership suitable for the expansion and
extension of start-ups.Pearce et al (2006)also Research Methodology
describes the perks of shared leadership over the
vertical leadership and how it has an edge in The research is conducted to know the state of
reference to descriptive value. It suggests that the startups in India and their different vulnerabilities.
high-profile cases of success of reckless start-ups, It is also looking into the problems faced by
whose different way of innovation and creativity, startups and also the factors behind the success or
are mere stories, rather than the actuality. failure of startups.
Innovation has always been one of the main aspects Descriptive research design has been used for the

research and 100 respondents (10 each from 10 have been used for the data collection. At the same
startups of NCR region) have been covered while time a lot of secondary data has also been used to
using convenient sampling technique. A analyse the prevailing state of startups across India.
questionnaire consisting of close ended questions
Discussion on Startup's Different Aspects
Distribution of Startups Sector Wise
Fig 2: Tech Startups Distribution
35
30
25
20
15
10
5
0
ce
ps
s
B
et
er
B2
A
rn
er
ap
th
SA
m
te
O
ile
In
m
ob
co
er
M
E-
um
ns
Co
(Source: Xeler8)
It is clearly evident from the above graph that E- etc. are very popular among the people of India,
Commerce has the highest number of tech based and are quite a success.
startups in India, constituting around 33% of the
total tech-based startups, followed by B2B, While, the non-tech based startups includes
Consumer Internet, Mobile apps, SAAS. Most of various fields like Engineering, Construction,
the E-Commerce companies like Flipkart, Paytm Agri-products, and Textile etc.
Fig 3: Non Tech Startup Distribution
35
30
25
20
15
Percentage Share
10
5
0
g
ts
ile
ng
rt
ng
s
er
rin
io
po
uc
xt
ci
th
ct
ag
e
ns
ur
Te
O
tru
ne
ro
ck
so
i-P
Tr
gi
ns
Pa
ut
En
Co
gr
O
&
A
g
tin
in
Pr
Sectors
(Source: Xeler8 Analytics)

Employees in Start-ups
Fig 4: Employees in Startups

45
40
35
No. of Responses
30 Less than 10
25 10 to 50
20 50-100
15
10 100 -500
5 More than 500
0 Linear (Less than 10)
Emp Count
Employee Count
(Source: Data survey)
The above graph shows that most of the startups strength of even 10 people. It suggests that the
employs around 10-50 people and almost 85 strength of most of the startups are not very high
percent of startups have employee strength of 100 and they focus on specific set of people for their
or less. Around 15 percent startups do not have work.
Mature Startups
Fig 5: Mature Startups ( of 4+ years)
70
60
50
40
30
20
10
0
n
il
re
e
ce
nc
io
tio
io
rin
in
io
ta
tu
at
Re
ct
in
at
na
rta
rv
ul
tu
m
tru
uc
M
ic
Fi
ac
Se
po
r
Ed
gr
fo
ns
uf
ns
A
In
Co
an
a
Tr
Sectors
(Source: startup stories, Times of India)
As per the graph mentioned above, Finance sectors Education, Agriculture and Services. Mining,
constitutes most of the startups surviving the Manufacturing, Construction sectors comes
vulnerable period of first four years and still behind them, followed by retail, transportation and
operating after 4 years. And it is followed by Information sector.

Problems Faced
Fig 6 : PROBLEMS FACED BY STARTUPS
6% 5%
7%
43%
39%
Capital Problem Infrastructure Problem Documentation

Lack Of Information Others
A s p e r t h e s t u d y, C a p i t a l P r o b l e m a n d capital or resources and availing right

Infrastructure problems are the most critical infrastructure. Government need to focus on how
problems faced by the startups in India. Most of the to generate revenues or bring in more investment
startups fail due to lack of funding as suggested by for the startups and also has to work on providing
other studies. Even the startups working solution to infrastructure problem.
successfully, they still have problem in generating
Fig 7 : Government Support
Borrowing Documentation Tax Concession No Help Other Helps

NUMBER OF RESPONSES
50
40
30
20
10
0
No of Responses
Government Responses

Fig 8: Time to reach Breaking Point
6%
34% 16%
44%
Less than 6 months 6 to 18 months 18 months to 3 years 3 years +

Time for Reaching Break Point investment put in by them for setting up the
business, out of which 34 percent of businesses
Many of the companies require more than three took even more than 3 years. As per the study,
years reaching the breaking point stage for their around 2-4 years is required for a startup to reach
businesses. More than 75 percent of startups took the breaking point and start making profits.
more than 18 months to finally recover the
Fig 9: Effect of Demonetisation

Consultancy Finance IT Others
2.2
1.8
1.6
Demonetisation Effect
SECTOR OF FIRM
(1- Severe, 2-Moderate, 3- Normal, 4- Almost Negligible, 5-Positive Impact) (Source: Data survey)
As the above graph states, the effect of the demonetization. Most of the companies faced
demonetization is visible on the various various difficulties due demonetization and termed
sectors of startups. The responses received the demonetization as severe process for their
shows that demonetization had an adverse business. As per our study, Demonetization
effect on the business of various sectors and affected companies and startups business
no sector found to have a positive impact of negatively and created several difficulties in the
running of business.

Fig 10 : Banking Facilities
3.5
2.5
consultancy
2
finance
1.5
IT
1 Others
0.5
0
STARTUP CATEGORIES
(1- Very Poor, 2-Not Helpful, 3- Average, 4- Good, 5-Very Cooperative)

The graph above shows that banking facilities efforts are being made by government to boost up
available for starting new business in our country is the ecosystem for startups in India, such responses
not very promising and need to be focused upon. As are little disappointing, more efforts must be made
per the survey, people working in startups rated the and policies must be properly implemented to get
banking facilities as average. Even after so much the desired results.
Fig 11: GST Effect
consultancy finance IT Others
4
3
2
1
0
GST Effect
SECTOR OF FIRM
(1- Severe, 2-Moderate, 3- Normal, 4- Almost Negligible, 5-Positive Impact)


The new taxation system, GST introduced by difficulty. However, the responses suggest that
government seems to have no odd effect on the there was not much positive impact of GST too.
startups. As per the survey, the effect of GST was However, Survey states that introduction of GST
normal and startup companies and firms have hasn't also guaranteed or provided any benefits for
accepted the new taxation system without much the startups.
Sector wise Impact of GST and Demonetization

Fig. 12
MEAN VALUE OF RESPONSES
3.73
3.29 3.28
2.66
2.16 2.04
1.83
CONSULTANCY FINANCE IT OTHERS

SECTOR OF STARTUP
DEMONETISATION'S EFFECT GST'S EFFECT
Demonetization had adverse impact on the startups demonetization had bad to severe effect. While
as suggested by the survey. On the other hand, GST GST was rated in the range of 3.2 to 3.7 which
too created difficulties for the startups, but impact states that the effect was moderate. However, GST
was not as critical as due to demonetization. The had no benefits for the startups too, as per the
respondents rated demonetization effect from 1.8 survey.
to 2.1 in various sectors, which states that
Source of Funding for Start-ups
11%
21%
20%
14%
34%
Grants from Govt Loans Angel Investment

Help from family and friends Other sources

Angel investment is the most common source of for help from families and concerned people; while
funding for startups. Almost 34 percent of startups as many as 11 percent receive grants from the
generate their revenues from angel investment. government. Around 21 percent generate their
Loans are also one of the common source, with 20 revenues from other sources. It states that still there
percent of startups opting for loans to set up and run is no specific source of funding and different
their businesses. Around 14 percent of startups opt startups rely on different sources for their funding.
Discussion On Startups Funding (2015-2017)
Fig 14: Comparison of Fundings
6
5
Total Fundings ($bn)
4
3
2
1
0
2015 -16 2016 -17 2017 -18 (till Dec 2017)
Years
Angel Investors Venture Capitalists Private Equity Others
Figure 15(a)
(Source: Nasscom startup report 2017)
Above table and graph below are showing funding the other hand, demonetization effect can be seen
trend of different investors from last 3 years in clearly on private equity as contribution of PE has
startups. Contribution of angel investors keeps on decline tremendously in the year 2016-17. Angel
increasing every year which is 19%, 21% and 23% investors had not got effected by demonetization as
of respective year 2015-16, 2016-17 and 2017-18, they invests at very early stage with less amount of
whereas venture capitalist consists the maximum money as compare to venture capitalists and
contribution of total funding all the three years. On private equity firms.
Funding Pattern & Deals (2014-2017)

Figure 15(a)
Fig 15(a): Startup Deals
2017
2016 -17
YEARS
2015 -16
2014 -15
0 200 400 600 800 1000 1200

TOTAL DEALS
Source – Indian tech startup funding report 2017)

Fig 15(b) : Startup Funding

15
10
0
TOTAL FUNDING
YEARS
2014 -15 2015 -16 2016 -17 2017
Figure 15 (b)
(Source – Indian tech startup funding report 2017)
It is clearly shown that number of deals has been deal is very low as that was post demonetization
increasing from 2014 to 2016, but there is slightly effect where country faced problem of lack of
fall in number of deals in 2017. On the other side in liquidity. It means funding of startups was also got
year 2016 there was drastic fall in the amount of affected by demonetization.
total funding which means average amount of each
Sectorwise Deals & Funding

Table 2
SECTORS TOTAL DEALS TOTAL FUNDING

(2017-18 till Dec 2017) (2017-18 till Dec 2017)
ENTERPRISE 131 $4.6bn

HEALTH 111 $3.01bn
FINTECH 111 $1.65bn
HYPERCOAL 99 $0.79bn
E-COMMERCE 79 $0.53bn
OTHERS 354 $2.92bn
(Source – Indian tech startup funding report 2017)
Table 3
SECTORS TOTAL DEALS TOTAL FUNDING ($bn)

(2016-2017) (2016-2017)
E-COMMERCE 142 $1.2bn
HEALTH SECTOR 115 $0.14bn
FINTECH SECTOR 96 $0.47bn
ENTERPRISES 93 $0.37bn
MEDIA AND ENTER. 54 $0.14bn
OTHERS 453 $2.48bn
(Source – Indian Tech startup funding report 2017)

Above tables and statistics states that the E- fared better than transport sector in number of deals
Commerce is the most popular sector which brings cracked. The above chart clearly stated that the E-
in the highest number of funding and deals for the commerce, Finance and transport sector are the
financial year 2016-17 and 2017-18. While in most favored sectors as per the investors, cracking
2016-17, the transportation sector brings in the most of the deals and generating large amount of
second highest number of deals, finance sector funding.
Venture funds for Start-ups

Table 4
Annual Revenue YES, with success YES, but unsuccessful NO
1-10 Lac 0 0 7
10-25 Lac 0 1 20
25-50 Lac 2 9 4
50Lac-1cr 2 1 8
1cr-10cr 5 13 14
10 crore + 7 1 6
Fig 16 : Diversification of Startup W.R.T. Turnover

25
20
15
10
0
1-10 Lac 10-25 Lac 25-50 Lac 50Lac-1cr 1cr -10cr 10 crore +
Annual Turnover
YES with success YES but unsuccessful NO
Our analysis based on the responses received from success rate is also higher as compared to
the survey among various startups finds out that companies with lower annual turnovers.
raising venture finance for new project is Companies with annual turnovers of over 10 crore
dependent on the annual turnover of the startups have success rate of around 50 percent, while
operating. As per the study, the attempts to raise companies with annual turnover below 25 lac have
venture for a new project and the rate of success for almost no success in getting finance. It suggests
gettingfinance increases with the annual turnover that the investors are more interested in investing
of the company. Startup companies having higher with those startups which have established annual
annual turnovers, tried to raise the finance for new returns and involve lesser risk.
project too often than other companies and their

Difficulty faced by start-ups in diversification of Venture

Figure 17
35
30
yes/no responses
25
20
15
10
5
0
CONSULTANCY IT Finance and Others
Insurance
Sector Of Firm
As per the study, most of the startups needs Correlation Between Government
governmental help in order to setup their business Support and Satisfaction level within
and to successfully venture their idea. Survey states
Startups
that most of the companies got help from
government departments in one or another form.
The study was done to understand the degree of
Most of the respondents found the information
association between support startups get from
provides by government agencies to be adequate,
government and satisfaction with that.
but still feels that there is a scope of improvement
to ease out the process of doing business. Tax
Null hypothesis H0: There is no significant
concession and Documentation help is the most
relationship between the help which government
common form of assistance startups receive from
provide and the level of satisfaction with that.
the government.
Alternative hypothesis H1: There is significant
relationship between the help which government
provide and the level of satisfaction with that.

Table 5
What type of How much are

support you get you satisfied with
from the the government
government for policies regarding
your startup your startup
What type of support you Pearson Correlation 1 .911 **

get from the government Sig. (2-tailed) .000
for your startup N 101 101
How much are you Pearson Correlation .911 ** 1
satisfied with the Sig. (2-tailed) .000
government policies N 101 101
regarding your startup
**. Correlation is significant at the 0.01 level (2tailed).
Interpretation: From table 14, the significance value is .000

· The degree of correlation between both the which is less than alpha (.05) therefore we reject
variable is high null hypothesis and accept alternative hypothesis
· There is positive correlation between the and the Pearson correlation coefficient is .911.
variables Therefore, there is a positive, significant and high
· Pearson coefficient r=0.911 degree of association between satisfaction level
· Sig. value (p) <a, therefore there is an of startups and government support they receive
association between two variables towardstheir development.
P =0.0001 < a =0.05
5.5 Difficulties Facedby Startups

Table 6
Count
Difficulty faced while starting business
capital infrastructure documentatio lack of
problem base n information others Total
Employees at start up less than 10 5 1 5 4 1 16
10-50 11 12 12 2 2 39
50-100 13 7 7 3 1 31
100-500 2 5 5 0 1 13
more than 500 2 0 0 1 0 3
Total 33 25 29 10 5 102

The above table shows that the difficulty faced by start-ups faced the problem of capital,
most of the start-ups which have less than 100 documentations and Infrastructure.
employs while starting their ventures.Most of the
Discussion On Failed Startups
Funding Status of Failed Startups in Last Two Years
Fig 18 : Funding Status of Failed Startups
Unfunded
Funding Status
Funded
0 200 400 600 800 1000 1200

Number of Startups
It is very hard for the startups to survive in the required funding in order to survive and compete in
Indian ecosystem. There are various reasons like the Indian market. The above stats clearly suggest
lack of infrastructure, knowledge, government that very few startups are able to raise funds for
policies, funding etc. due to which the failure rate themselves and most of the startups remain
of startups are high. One of the main reasons is unfunded.
funding. Most of the startups do not get the
Age Pattern of Failed Startups
Fig 19: Age Pattern of Failed Startups
60
50
40
Year
30
20
10
0
Year 1 Year 2 Year 3 Year 4 Year 5
Percentage of Failure
Most of the startups failed in very early stage of are unable to cross lifespan of four years. It is
their lifecycle. Around 26% of the startup fails in clearly evident from the above stats that startups
their inception year, while 36% cannot cross the have very high failure rates and they are more
lifetime of two years. Around half of the startups prone to failure in the early stage of their lifespan.

Sector Wise Failure
Fig 20 : Sectorwise Failure
35
30
25
20
15
10
5
0
E -Commerce Logistics Food Tech Analytics Others
Sectors
Since E-Commerce is one of the most popular sector for the It also accounts for most failures in the startup arena. It is
startups due to easy accessibility as well as user friendliness. followed by Logistics, Food-Tech and Analytics industry.
6.4 Mortality Analysis of Indian Startups
Figure 21
(Source: Nasscom Startup Report 2017)
It is clearly visible from the above study that maximum support at the kick start level only. If any
startups have very high mortality rate at the initial of the startups survive the initial stages, they are
stages and are most prone to fail at the earliest. more probable to succeed and have lesser failure
Around 45-50% of the startups die even before rates later on. As the revenue generated by a startup
securing seed stage foundation, i.e. without increases, their chances of survival increase
generating any funds. The initial years of startups exponentially.
are termed as “valley of death”. The startups need

FINDINGS many of them have faced huge loss of business

and still have not recovered from its impact.
· Lack of funding is one of the main reasons for
the failure of the startups. Most of the startups · According to the study, introduction of GST
remain unfunded and finally led to their taxation in the mid financial year created
shutdown. Around 90 percent startups fail to difficulties for the various startups to adopt the
survive the market. change and also in managing their finances.
· The government policies sometimes are also · Even after so many changes in policies for
very rigid, that hinders the process of setting up making the process of setting up startups the
startups. Startup India has smoothened the benefits are not much as the various facilities
process, but there is still lack of awareness and provided are of average quality. Most of the
stringent policies that need to be smoothen. respondents feel that there have been some
improvements but still the improvements are
· Too many startups came up with the same idea, not sufficient.
lack innovative solutions and operate in the
same sector and fail to raise capital and finally · Angel Investment is the biggest source of
shutdown. Many entrepreneurs set up a start-up investment, followed by helps from friends and
without proper research about market, which family. Bank loans are still not very common
ends up in disappointment. option for the people setting up startups.
· As per the study, many times startup fails due to 2. Conclusion& Recommendation
“No Market Need”. Market and Product fit is
very essential. The solutions offered The startups in India are improving and increasing
sometimes are for a very rare problem, thus year by year, but the rate is not very good and much
leading to lack of customers for the product. more is needed to get the desired results. The
While many startups fail due to lack of proper startups are not very strong with respect to the
leadership and weak team. It is very necessary changes financially and any change in taxation
to innovate and change as per the changing system like GST or any process like
needs of the customers. demonetization has adverse effect on startups.
Demonetization has affected all the sectors and
· Poor Marketing and lack of business model slowed down the progress rate. Lack of funding is
sometimes, lead to failure, even if the company one of the main reasons for the failure of the
offer great prospect and have very good idea. startups. Most of the startups remain unfunded and
Bigger companies with better market research finally led to their shutdown. Around 90 percent
and proper business model, out-competes startups fail to survive the market. Too many
them. startups came up with the same idea, lack
innovative solutions and operate in the same sector,
· Majority of the respondents in a survey have a and fail to raise capital and finally shutdown. Many
view that the decisions like demonetization entrepreneurs set up a start-up without proper
have marred their progress of their startups and research about market, which ends up in
disappointment.

Indian Startups : Analyzing Their Vulnerabilities &Prevailing Challenges 79
Future Scope of Research

Recommendations are as follows:
Startups are becoming very essential part of current
· Awareness level for all aspects related to economic progress and this momentum needs to be
startups should be raised at proper level by all strengthened further more. Future studies should
stakeholders. focus more on crucial business models and
innovative ways for performance enhancement in
· Funding is crucial for the startups so that details for better tomorrow.
of all players such as angel investors and
References
venture capitals etc. should be provided.
Appu, A. & Balaji, S.G. (2018), Measuring Effectiveness of
· Better focus on core issues like taxation (GST), Distribution Channel Practices among Merchants: An
business research and marketing has to be Empirical Study on Logistics Companies in Chennai City,
SUMEDHA Journal of Management, 7 (4), 136-144
taken up more professionally and vigorously.
Astebro, T. and Bernhardt, I. (2003), Start-up financing,
Research Implications owner characteristics, and survival, Journal of Economics and
Business, Elsevier, 55(4), 303-319
The research has thrown light on different aspects
Bruno, A.V. &Leidecker, J.K. (1984), Identifying and using
of startups and challenges they are facing which critical success factors. Long Range
can be further analyzed and solutions can be Planning,Elsevier,17(1),23-32.
designed. This study has shown impact of different
factors such as GST, demonetization etc. on the Day, D. V., Gronn, P. & Salas, E. (2004), Leadership capacity
health of startups. Also, role of different in teams, Leadership Quarterly, Elsevier, 15(6), 721-892
stakeholders have been discussed in detail to MacMillan, I. C. Zemann, L. & Subbanarasimha, P. N.
understand how they can benefit the startups. (1987), Criteria distinguishing successful from unsuccessful
ventures in the venture screening process, Journal of business
8.2 Limitations of the Study venturing,Elsevier, 2(2), 123-137
Kumar, K. (2015), Indian Online Start-ups: Can They Stand

Ÿ The research is limited to the respondents in up Against the World, International Journal of Advance
researcher's network who were available and Research in Computer Science and Management
agreed for the interview using convenience Studies,3(4), 236-243
sampling.
Ÿ Research is based upon the NCR region only Pearce, C.L, Ensley, M. D., & Hmieleski K.M. (2006). The
importance of vertical and shared leadership within new
the sample size of 100 (10 each from 10 venture, Leadership Quarterly, Elsevier, 17(3),217-231
startups). Respondent's age group was also
mixed no specific group has been targeted. Shukla, A. (2018), Are Women Better Investors???(An
Analytical Study), SUMEDHA Journal of Management, 7(
4), 4-14

Business Prospects For Entrepreneurs In Skill Based Online Education

6 (1) 80-95
G S Rathore*, Bhagwan Singh**, Sachin Kumar***, Rita Rai****, Kamlesh Kumar*****
Abstract
The present time is for Knowledge-Based Economy (KBE) because people can access any required
information via internet browsers or mobile phone applications. The mobile applications have created a high
demand for online education, as it is convenient to use, it has lower cost, higher reach etc. This is conceptual
paper highlighting the future business opportunities that are available for young entrepreneurs in the field of
online education. The young people who are aspiring to be entrepreneurs can help our country grow to a
knowledge-based economy by shaping the students' skills in a required way. It can create ample of business
opportunities to the aspiring entrepreneurs and job opportunities to the job seekers.
The content analysis approach is used to study the different websites of government and no-government
institutes. The study is an attempt to highlight few of the online education platforms for Indian i.e. Bhartiya
students and job seekers. The study concludes that online education system is rising as it generates the
student's satisfaction level. Moreover, anyone on job can continue (h)is/er studies. Many IITs, IIMs,
NPTEL, NPTEL (SWAYAM) and CEC are providing freer and online courses to the students. For young
aspiring entrepreneurs Government of India is providing freer online courses under startup India program.
The study identified 20 online courses under start up India initiative of Government of India (GoI) and many
freer and paid online education platforms in India. The findings reveal that there is rising demand for online
courses in India after launch of Digital India Programme. New entrepreneurs can avail this opportunity and
start their own online presence in online education.
Keywords: online education, skills, entrepreneurs, free
Introduction and Start up India movements (PTI, Jan 12, 2018).

The startup India has recognized more than 18,861
“The youth of India should become job creators” start-ups i.e. 1 startup in every hour. These start-ups
said by Shri Narendra Modi the Prime Minister of are spread across every state of country and
India to the young generation, refers to Skill India provided employment to 1,87,004 persons
*Head of Department, Faculty of Commerce and COE, Udai Pratap Autonomous College, Uttar Pradesh, Bharat
**Dean, School of Commerce & Business Studies (SCMS), Central University of Himachal Pradesh [CUHP], Dhauladhar Parisar - II, Dharamshala, Distt.
Kangra, H. P., Bharat.
bhagwansingh.bs@gmail.com
***Assistant Professor, Department of Management Studies, NIT Hamirpur-177 005, Bharat, H. P., E-mail: sachincuhp@gmail.com
****Assistant Professor, Department of Commerce, Dev Samaj College for Women, Sector-45, Chandigarh, Email: ritarai.gjimt@gmail.com
*****Research Degree ScholarM Department of Marketing & Supply Chain Management[M&SCM], School of Business and Management
Studies[SBMS], Central University of Himachal Pradesh[CUHP]
DhauladharParisar - II, Dharamshala, Distt. Kangra, H. P., E-mail: kamlesh483@gmail.com

Business Prospects For Entrepreneurs In Skill Based Online Education 81
(Bureau, Jun 04, 2019).The start-ups can also apply definite learning modes (Eom, Wen, & Ashill,
for tax exemption after it is recognized by 2006).
Department for Promotion of Industry and Internal
Trade (DPIIT) under section 80 IAC of the Income Online education and skills and entrepreneurship
Tax Act (Startup recognition & tax exemption).
These startups have many online education The skills do not develop with just knowledge of
platforms, which are the main highlight of this internet and time devoted online (Van Deursen, van
study. The online learning mode bridges the gap Dijk, & Peters,2011). But, the online learning is
between teacher and students which was not possible only because of increase in
possible earlier in the traditional modes of teaching communication tools (Compton, 2009). The
– learning. All this is because of advances in the success of online teaching depends on certain skills
technology. MOOCs by UGC is an online learning of tutors. The skills required are dealing with
platform where academicians share their video technology, using its benefits, and social skills,
lectures and knowledge with the online learners. creativity etc. (Hampel, & Stickler, 2005).The
The market for online education is rising more in thinking skills are also needed in delivering quality
case of primary education, preparations and education (Wickersham, & Dooley, 2006).The
certificate courses via online education. Online entrepreneurship education can be enhanced by
education, is thus bringing a change in whole adopting a dynamic tool using the theory of
education system of India i.e. Bharat. Thus internet planned behavior (Fayolle, 2005). But if the
education tools are creating such environments affection part is added in education the
where the students as well as the entrepreneurs are entrepreneur learning becomes more significant
well engaged in online education activities. (Kyro, 2008).There are many barriers in achieving
online education and these can be removed by
Review Of Literature rigorous and in-depth research (Matlay, 2006).
Online education Research Gap
Online education through internet has helped to The literature reveals that although internet has
brought a new paradigm shift in changing the contributed in terms of technological
behavior of society (Volery, & Lord, 2000). It's the advancements in India & the world, and many
online education that is binding the distance studies have favored it. But, most of the studies
education. Online education has also contributed in have focused on the concepts of how internet has
the advancement of teaching pedagogy contributed in the field of modern education, but
(Larreamendy-Joerns, & Leinhardt, 2006). The there are few/no such studies which represent the
online education is preferred as the web based details of various online education platforms for
environment is more customized as per the the students and job seekers. Moreover, no studies
requirements of the learners (Harasim, 2000).In have explained the business prospectus for
lieu of this, most of higher education institutes are entrepreneurs in skill based online education. This
adopting online education courses and the number led the researchers to choose this topic for research
of enrolled students is also rising day by day (Kim, purpose, so as to provide a descriptive detail of the
& Bonk, 2006). This online education system can online education platforms functioning in India for
be made better if the learners are targeted with both students and entrepreneurs.

by/owner, language of course, study content,

Methodology duration of course, fees etc. The website ownership
details are taken from copy-right information on
Objective of Study: the webpage (Kaaya, 2004).
In the support of theory the research has focused
on: Discussion
1. To provide a detail of online education platforms Business Prospects for Entrepreneurs

functioning in India.
There are huge number of business prospects
Research Design available for entrepreneurs in online education.
The entrepreneurs need to understand the present
The websites for study were selected after an models of online teaching and implementing new
exhaustive research on websites from Yahoo and changes, new technological innovations, they can
Google between September 2, 2019 to September think of starting a new business or startup. There
20, 2019. It has been adopted from the study of are many platforms for online learning in India.
Choi, Lehto, & Morrison, 2007. The keywords Some are for students of primary to post graduates,
searched were online education, entrepreneurship for competitive exam aspirants, for Ph.D. students,
and India. This study is a conceptual paper based on by IIM Bangalore and bystartup India initiative.
content analysis of various government and non- The following is the detailed account of few of the
government websites in India. The research looks online learning platforms:
into parameters like name of courses, created

4.1.1: Online learning platforms for students

Table 1: Online learning platforms for Students (Primary to Post Graduation)
S.N. Name of Course Founder / Chairman / Syllabus Duration Fees Language Website Remarks
CEO of Course
1. e-learning for kids founder and children ages 5-12 in -- Free English https://www.e- --
founding dreams chairman, Nick van Math, Science, learningforkids.org/
Dam Environmental skills, parents-teachers
Computer skills,
Health, Language and
Life skills
2. 120 HOURS OF TEFL Phase –I to Phase 8 -- 14500 INR English https://www.teflcour ---
INTERNATIONA se.in/certificate-in-
L TEFL tefl-online.php
CERTIFICATE
PROGRAM
3. EdX: Harvard University Entrepreneurship, Vary as Free English edx.org ---

supply chain per course
management,
International Law etc.
4. Academic Earth Standford University, Accounting, Vary as Free English academicearth.org Total Course:
Berkely University economics, per 615
etc. in collaboration engineering, computer different
courses science, mathematics University
etc.
5. Internet Archive: Internet Archive 300 Non-profit digital -- Free English archive.org Only for free
Funston Avenue San library for free books, knowledge
Francisco audios, videos, images, gain not for
softwares degree and
admission
6. Big Think BIG THINK, BIG Videos, Newsletter -- Free English bigthink.com Partners top
THINK EDGE University of
world for free
education
7. Coursera Founded by Stanford Specialization Vary as Some English https://about.courser --

computer science certificates, Master per course free a.org/
professors in 2012 Track Certificates, different and others
Online Courses. course paid
8. Maths, Science, Khan Academy Maths, Science, -- Free English, https://www.khanac --

English, Finance, English, Finance, Hindi ademy.org/
Economics, Economics, Humanities
Humanities etc.
9. Byzu’s Byzu’s the Learning •Class 4 – 10 •11-12, • -- Free English www.byjus.com --

App JEE/NEET •TEST
PREP for IAS, CAT
10. LinkedIn Learning LinkedIn Office skills, creativity -- Free English / https://play.google.c --
skills etc. Hindi / om/store/apps/detail
Others s?id=com.linkedin.a
ndroid.learning
11. Amazon Kindle Amazon Books on different -- Free but English / https://www.amazon --
subjects books cost Hindi / .in/Kindle-
money Others eBooks/b?ie=UTF8 --
&node=1634753031
12. Youtube Google Video Channels on -- https://www.youtub

different subject e.com/
Source: Data Complied by Researchers from Official Websites (Link pasted in table)

The above tables 1 shows the details of online learn the basic subject knowledge by watching
education courses for students from primary to post audio-visual tutorials, e-books and study notes.
graduation. Using these platforms the students can
Table 2: Online learning platforms for Competitive Exams
S.N. Name of Name of Course Fees Language Website
Webpage
1. Easyshiksha Online mock test SSC, finance, Free English https://easyshiksha.com/online_courses/

economics, Maths, science etc.
2. Online Tyari Online mock test SSC, Banking, Free and Paid English https://onlinetyari.com
IAS etc. and Hindi
3. Test Book Exams, Current Affairs, Banking Free and Paid English https://testbook.com
etc.
4. Freshers Live Apptitude, Logical reasoning, Free and Paid English https://www.fresherslive.com
Current Affairs etc.
5. Takshila Learning Banking coaching Free and Paid English https://www.takshilalearning.com/online-banking-

coaching-classes-preparation/
6. Eduhat: A journey For Gate and college studies Free and Paid English https://www.eduhat.com/
of Knowledge
7. Examin Reasoning, Quantitative -- English http://www.examin.co.in/quiz.php

aptitude, GK etc.
8. Sarkari Exam For applying exams, admit --- English https://www.sarkariexam.com

cards, preparation etc.
9. Jagran Josh For applying exams, admit -- English https://www.jagranjosh.com/

cards, preparation etc.
10. Bankers Adda Current Affairs, Reasoning, Free and Paid English https://www.bankersadda.com
Quantitative aptitude, etc.
11. Career Power: Current Affairs, Reasoning, Free and Paid English https://www.careerpower.in
Best Bank PO, Quantitative aptitude, etc.
SSC & Teaching
Coaching
12. Lofoya Current Affairs, Reasoning, Free and Paid English http://www.lofoya.com/
Quantitative aptitude, etc. for
CAT, MAT
13. ixamBee Current Affairs, Reasoning, Free and Paid English https://www.ixambee.com
Quantitative aptitude, etc. Mock
Test
14. Embibe
15. M4maths Mathematics Free and Paid English www.m4maths.com
16. EduDose SSC, IBPS etc. Free English https://www.edudose.com
17. Competition Current Affairs, Mock Test Free English https://competitionmantra.com/

Mantra
18. Aptitudetest Aptitude --- English www.aptitude-test.com

The above table shows the detail of Online learning coaching for various competitive exams like SSC,
platforms for Competitive Exams. Total 18 IBPS, IAS etc.
websites were focused, which are providing online
Table 3: Online education platform By IIM Bangalore

S.N. Name Provided by Length of Fees Language Videos Website
Course
1. Introduction to IIM Bangalore 6 weeks Free with English English and Hindi https://www.edx.org/course/introductio
Managerial Economics certificate of Rs. n-to-managerial-economics-0
3539/-
2. Strategic Management IIM Bangalore 5 weeks Free with English English and Hindi https://www.edx.org/course/strategic-
certificate of Rs. management-0
10,616/-
3. Risk Management in IIM Bangalore 1 weeks Free with English English and Hindi https://www.edx.org/course/risk-
Banking and Financial certificate of Rs. management-in-banking-and-financial-
Markets Professional 3468/- markets-professional-certificate-exam-
Certificate Exam 2
Investments certificate of Rs. n-to-investments-2
3539/-
5. Accounting for IIM Bangalore 7 weeks Free with English English and Hindi https://www.edx.org/course/accounting
Decision-Making certificate of Rs. -for-decision-making-0
10,616/-
6. Corporate Finance IIM Bangalore 5 weeks Free with English English and Hindi https://www.edx.org/course/corporate-
certificate of Rs. finance-2
10,616/-
7. Strategy and IIM Bangalore 5 weeks Free with English English and Hindi https://www.edx.org/course/strategy-
Sustainable enterprise certificate of Rs. and-the-sustainable-enterprise-0
3539/-
8. People Management IIM Bangalore 6 weeks Free with English English and Hindi https://www.edx.org/course/people-
10,616/-
9. Organizational Design: IIM Bangalore 7 weeks Free with English English and Hindi https://www.edx.org/course/organizati
creative Competitive certificate of Rs onal-design-creating-competitive-
3539/- advantage-0
10. Financial Accounting & IIM Bangalore 6 weeks Free with English English and Hindi https://www.edx.org/course/financial-
Analysis certificate of Rs. accounting-and-analysis-2
3539/-
11. Banking & Financial IIM Bangalore 7 weeks Free with English English and Hindi https://www.edx.org/course/banking-
Intermediation: certificate of Rs. financial-intermediation-concepts-
Concepts, Risks, 7007/- risks-capital-regulation-2
Capital & Regulation
12. Debt & Money IIM Bangalore 5 weeks Free with English English and Hindi https://www.edx.org/course/money-
Markets: Concepts, certificate of Rs. debt-markets-concepts-instruments-
Instruments, Risks and 7007/- risks-and-derivatives-2
Derivatives
13. Equity Stock Markets: IIM Bangalore 6 weeks Free with English English and Hindi https://www.edx.org/course/equity-
Concepts, Instruments, certificate of Rs. stock-markets-concepts-instruments-
Risks and Derivatives 7007/- risks-and-derivatives-2
14. Foreign Exchange IIM Bangalore 5 weeks Free with English English and Hindi https://www.edx.org/course/foreign-
Markets: Concepts, certificate of Rs. exchange-markets-concepts-
Instruments, Risks and 7007/- instruments-risks-and-derivatives
Derivatives

15. Special Topics in Risk IIM Bangalore 5 weeks Free with English English and Hindi https://www.edx.org/course/special-
Management of certificate of Rs. topics-in-risk-management-of-
Banking and Financial 7007/- banking-and-financial-markets-2
Markets
16. Managing Innovation IIM Bangalore 6 weeks Free with English English and Hindi https://www.edx.org/course/managing-
certificate of Rs. innovation-2
3539/-
17. New Product IIM Bangalore 6 weeks Free with English English and Hindi https://www.edx.org/course/new-
Development certificate of Rs. product-development-2
3539/-
18. Crafting Realities: IIM Bangalore 7 weeks Free with English English https://www.edx.org/course/crafting-
Work, Happiness, and certificate of Rs. realities-work-happiness-and-meaning-
Meaning 3539/- 2
19. DO Your Venture: IIM Bangalore 6 weeks Free with English English and Hindi https://www.edx.org/course/do-your-
Entrepreneurship For certificate of Rs. venture-entrepreneurship-for-
Everyone 10,616/- everyone-2
20. Effective Business IIM Bangalore 6 weeks Free with English English https://www.edx.org/course/effective-
Communication certificate of Rs. business-communication-2
3539/-
21. Marketing Management IIM Bangalore 9 weeks Free with English English and Hindi https://www.edx.org/course/marketing-
10,616/-
22. Intellectual Property IIM Bangalore 9 weeks Free with English English and Hindi https://www.edx.org/course/intellectual
Rights: A Management certificate of Rs. -property-rights-a-management-
Perspective 10,616/- perspective-2
23. Predictive Analytics IIM Bangalore 7 weeks Free with English English and Hindi https://www.edx.org/course/predictive-
certificate of Rs. analytics-2
7007/-
24. Organizational Design: IIM Bangalore 7 weeks Free with English English https://www.edx.org/course/organizati
Creating Competitive certificate of Rs. onal-design-creating-competitive-
Advantage 3539/- advantage-0
25. People Management IIM Bangalore 6 weeks Free with English English and Hindi https://www.edx.org/course/people-
10,616/-
26. Statistics for Business – IIM Bangalore 5 weeks Free with English English https://www.edx.org/course/statistics-
I certificate of Rs. for-business-i-2
3539/-
27. Strategy and the IIM Bangalore 5 weeks Free with English English and Hindi https://www.edx.org/course/strategy-
Sustainable Enterprise certificate of Rs. and-the-sustainable-enterprise-0
3539/-
28. Operations IIM Bangalore 7 weeks Free with English English and Hindi https://www.edx.org/course/operations
Management certificate of Rs. -management-2
10,616/-
29. Accounting and IIM Bangalore 11 weeks Free with English English and Hindi https://www.edx.org/course/accounting
Finance certificate of Rs. -and-finance-2
10,616/-
30. Accounting for IIM Bangalore 7 weeks Free with English English and Hindi https://www.edx.org/course/accounting
Decision-Making certificate of Rs. -for-decision-making-0
10,616/-
31. Introduction to IIM Bangalore 5 weeks Free with English English https://www.edx.org/course/introductio
Investments certificate of Rs. n-to-investments-2
3539/-

32. Corporate Finance IIM Bangalore 5 weeks Free with English English and Hindi https://www.edx.org/course/corporate-
certificate of Rs. finance-2
10,616/-
33. Strategic Management IIM Bangalore 5 weeks Free with English English and Hindi https://www.edx.org/course/strategic-
10,616/-
34. Valuation and Creating IIM Bangalore 5 weeks Free with English English https://www.edx.org/course/valuation-
Sustainable Value certificate of Rs. and-creating-sustainable-value
5591/-
35. Quantitative Marketing IIM Bangalore 5 weeks Free with English English https://www.edx.org/course/quantitativ
Research certificate of Rs. e-marketing-research
3539/-
36. Micro Master Program IIM Bangalore 1 Year Rs. 38218/- English English https://www.edx.org/micromasters/iim
in entrepreneurship bx-entrepreneurship
37. Micro Master Program IIM Bangalore Rs. 57327/- English English https://www.edx.org/micromasters/iim
in Business 1 Year bx-business-management
Management
38. Risk Management in IIM Bangalore 1-7 weeks $489.60USD English English and Hindi https://www.edx.org/professional-
Banking and Financial certificate/iimbx-risk-management-in-
Markets banking-and-financial-markets
39. Customer Relationship IIM Bangalore 6 weeks Free with English English and Hindi https://www.edx.org/course/customer-
Management certificate of Rs. relationship-management-0
3539/-
40. International Business IIM Bangalore 3 weeks Free with English English and Hindi https://www.edx.org/course/internation
Environment and certificate of Rs. al-business-environment-and-global-
Global Strategy 3539/- strategy-0
41. Management IIM Bangalore 3 weeks Free with English English https://www.edx.org/course/manageme
Accounting for certificate of Rs. nt-accounting-for-decision-making
Decision Making 3539/-
42. Advanced Corporate IIM Bangalore 5 weeks Free with English English https://www.edx.org/course/advanced-
Strategy certificate of Rs. corporate-strategy
7007/-
43. Cooperatives and IIM Bangalore 3 weeks Free with English English https://www.edx.org/course/cooperativ
Producer Companies certificate of Rs. es-and-producer-companies
3468/-
44. Managerial Ethics: IIM Bangalore 5 weeks Free with English English https://www.edx.org/course/managerial
Reflective Practices For certificate of Rs. -ethics-reflective-practices-for-action
Action 3539/-
45. Innovation and IT IIM Bangalore 4 weeks Free with English English https://www.edx.org/course/innovation
Management certificate of Rs. -and-it-management-0
3539/-
46. Brand Management IIM Bangalore 5 weeks Free with English English https://www.edx.org/course/brand-
certificate of Rs. mangement
3539/-
47. Healthcare in India: IIM Bangalore 5 weeks Free with English English https://www.edx.org/course/healthcare-
Strategic Perspectives certificate of Rs. india-strategic-perspectives-iimbx-
3539/- st260x-1
Accounting - Part 1: certificate of Rs. n-accounting-part-1-basics-iimbx-
Basics of Financial 5591/- ac101-1x-0
Statements
49. Statistics for Business - IIM Bangalore 7 weeks Free with English English and Hindi https://www.edx.org/course/statistics-
II certificate of Rs. business-ii-iimbx-qm101-2x-0
1769/-

50. Introduction to Retail IIM Bangalore 6 weeks Free with English English https://www.edx.org/course/introductio
Management certificate of Rs. n-to-retail-management
3539/-
Marketing Essentials certificate of Rs. n-marketing-essentials-iimbx-mk101x
5591/-
52. Introduction to Banking IIM Bangalore 7 weeks Free with English English and Hindi https://www.edx.org/course/introductio
and Financial Markets - certificate of Rs. n-banking-financial-markets-i-iimbx-
I 1769/- fc201-1x-0
The table shows that there are approximately 52 these courses are free but for getting the
courses run by IIM Bengaluru. It is surprising to certificates, the students are required to pay certain
note that only one course is related to health, rests fees to the institute in digital mode.
of the 51 courses are from management field. All
Table 4: Online learning platforms at PhD. Level (for Management scholars) in India
S.N. Name Provided by Syllabus Fees Language Website
1. ShodhGanga Inflibnet Dissertatio Free English/Hindi https://shodhganga.inflibnet.ac.in

n/Thesis
on all
subjects
2. Academia Academia Research Free and varies English www.academia.edu

Papers
3. SSRN SSRN Research Free and varies English https://www.ssrn.com › index.cfm

Papers
4. Google scholar Google Research Free and varies English/ https://scholar.google.com

Papers Hindi/Others
5. Taylor and Francis Informa UK Books, Vary as per English https://taylorandfrancis.com/

Limited, an Journals article
Informa Group
company
6. Springer Springer Nature Books, Vary as per English https://www.springer.com

Switzerland Journals article
7. Sage By Sara Miller Books, Vary as per English https://www.sage.com

McCune Journals article
8. Emerald Insight Sage Group Books, Vary as per English https://www.emerald.com

Journals article
9. Inderscience Emerald Group Books, Vary as per English https://www.inderscience.com

Publishing Journals article
10. Wiley Online Library Inderscience Books, Vary as per English https://onlinelibrary.wiley.com
publishers Journals article
11. Elsevier John Wiley & Books, Vary as per English https://www.elsevier.com/en-in/books-and-journals
Sons Journals article
12. Research gate Elsevier Books, Vary as per English

Journals article
13. IEEE explore IEEE Books, Vary as per English https://ieeexplore.ieee.org/Xplore/home.jsp

Journals article
14. Sceince Direct Elsevier Books, Vary as per English https://www.sciencedirect.com/

Journals article

15. AMS (American American Books, Vary as per English https://www.ams.org/journals

Mathematical Society) Mathematical Journals, article
Society e-content |
16. Scopus Elsevier B.V Books, Vary as per English https://www.scopus.com/home.uri

Journals, article
e-content
17. American Marketing American Books, Vary as per English https://www.ama.org/

Association Marketing Journals, article
Association e-books
18. Laerd Statistics: SPSS Laerd Statistics SPSS Vary as per English https://statistics.laerd.com
Statistics Tutorials and Guide time duration
Statistical Guides
The above table is taken in reference to Ph.D. which are frequently used by researchers (Ph.D.
students of management discipline. The table students) to help in writing research thesis.
shows that there are more than 18 websites in India,
Figure 1: CRISP Model for presentation of Thesis (for Ph.D. Scholars)
"CRISP" MODEL for Presentation of Thesis / Research / Project

The "CRISP" model is an INNOVATIVE Template for making comprehensive presentation in a
structured manner of the work undertaken during their Thesis / Research / Project in Social Science.
"CRISP" is an acronym for 5 important aspects that need to be emphasised while making
these presentations in Social Science.
C=Concrete Issues R=Research Methodology I=Insight Generation S=Summary P=Publications
[A] [B] [C] [D]

[C] [C]
[E]
I GAIN SOUL Ÿ Research Ÿ Goals Reached / Need Gist & Findings · Researcher's
Framework more time Publications
Suggestions &
Ÿ Research Design Ÿ Gaps covered /Not Recommendations
I is for Introduction Covered · Researcher's
Ÿ Hypothesis Framing Conclusions Manuscript
(if any) Ÿ Needs Satisfied / Not
Appendix / Annexure
G is for Gaps Satisfied
Ÿ Sample Design
A is for Additional Inputs Ÿ Objectives Achieved/
Ÿ Sampling Frame
Not Achieved
I is for Importance Ÿ Sample Area
Ÿ Hypothesis Accepted /
N is for Need Ÿ Sample Size Rejected
Ÿ Data Collection &
S is for Scope Analy sis/ Validation
O is for Objectives Ÿ Statistical Tools and
Technique
U is for Uniqueness
Ÿ Instrumentation /
L is for Limitations. Observation
Source: Singh, B. (2018)

The above model is an innovative idea for making The entrepreneurs should adopt this model and
the research papers, thesis and projects implement it in their course contents, which can
presentations in a well-defined way for Ph.D. help the students in making thesis presentations
scholars of sciences & social sciences and during Ph.D. and business presentations during job
corporate houses to present their project reports. and also while learning online.
4.1.2: Online Courses for Entrepreneurs under Start Up India Initiative
Table 5: Online Courses for Entrepreneurs under Start Up India Initiative of GoI
S.N. Name of Course Created by No. of Time frame of Course Prior Course Content Rating if Lang-uage Others
Students Course Fee Knowledge and learnings available
enrolled Required or
Not
1. Udemy Online Courses Udemy-Brain Labs NA NA Free NO NA NA English -Total 3500

courses
2. Learning & Government of India in NA 4 Weeks Free No Industry NA English / Area:

Development Program collaboration with Invest insights, Hindi Manage-
by Upgrad India & UpGrad. certificate, ment By
developing India
business plans,
networking or
mentoring
3. Accounting- A brief Brainy Money and Son Han 26,258 17 lectures 1920 Rs No Basics of NA English
introduction-in 60 students Time: 58 accounting-
minutes enrolled till Hours:58 debit-credit,
September Minutes creating balance
17, 2019 sheet and
income tax
statement etc.
4. Personal Development: Martin Meadows 41,167 15 lectures Time: NA No Learnings: Rating English
confidence students 55 Hours:28 Developing 4.4 out of
Minutes confidence, 3825
successful ratings
mindset,
overcoming fear
of failure etc.
5. Android Development- John Purcell 162,211 96 lectures Time: Free Java Creating Rating English
Learn Android 4.0 students 15 android 4.2 out of
Programming in Java hours:21minutes: applications 2,752
27 seconds ratings
6. Amazon Web Services. Linux Academy, Thomas 195,050 10 lectures Time: Free No Tackling the Rating English
AWS-Concepts Haslett students 01Hours:22 more complex 4.5 out of
Minutes:28 technical 32,914
Seconds concepts and ratings
terminology
7. Understanding Design NPTEL and IIT Kanpur NA 4 weeks Free No Problem NA English Area:Mana-
Thinking & People Identification gement By
Centered Design India
8. Managerial NPTEL and IIT Bombay- NA 16 Modules, 40 Free NA Managerial NA English Area:Mana-
Accounting Dr. Varadraj Bapat Lectures Accounting gement By
India
9. Managerial Economics NPTEL and IIT Bombay- NA 40 Lectures Free NA Managerial NA English Area:Mana-
Prof. Triputi Mishra Economics, gement By
Theory of India
demand,
production and
market
10. Supply Chain NPTEL and IIT Roorkee- NA 8 Units, 40 Free NA About Supply NA\ English Area:Mana-
Analytics. Introduction Prof. Rajat Agrawal Lectures Chain gement By
to Supply Chain Management India
management
11. Human Computer IIIT Allahabad NA NA Free NA Interface of NA English By India

interaction Humans and
Computers

By India
12. Introduction to Data NPTEL and IIT Madras- NA Week 9, Lectures Free NA Introduction of NA English
Analytics Prof. Nandan Sudarsanam 47 Data analytics
and Prof. B. Ravindran and its usage
Area:Mana-
13. Financial Statement NPTEL and IIT Roorkee- NA Week 12 Free NA Analysizing NA English
gement By
analysis and report Prof. A.K. Sharma companies
India
Financial
Statement and
financial health
Area:Mana-
14. Security analysis and NPTEL and IIT Kharagpur- NA Lectures 40 Free NA Analyzing the NA English
gement By
portfolio management Prof. J Mahakud security and
India
portfolio
management of
companies
Area:
15. Developing Soft skills NPTEL and IIT Kanpur- NA Module 8, Free NA Learning skills NA English
Humanities
and Personality Prof. Ravi Chandran Lectures 48 and personality
and Social
development
Sciences By
India
Area:Mana-
16. Consumer Behaviour NPTEL and IIT Kharagpur NA Lectures 41 Free NA Understanding NA English
gement By
consumer
India
behavior
Area:
17. Economies of IPR NPTEL and IIT Patna- Prof. NA Week 4, Lectures Free NA About IPR, NA English
Humanities
Nalin Bharti 20 Issues in IPR
and Social
and Disputes-
Sciences By
Development in
India
IPR
18. Building and NA NA NA Free NA To choose NA English

Managing a Business correct business
for first-time
entrepreneurs,
knowing the
right taxation
program, Basics
of raising funds
Applications
Area:Mana-
19. Economics/Manageme NPTEL and IIT Kharagpur- NA Lectures 50 Free NA Basics of NA English
gement By
nt/Entrepreneurship Pratap K.J. Mohapatra Economics,
India
Management
and entre-
preneurship
20. Web development with Bradley Berger 132,024 21 lectures Free NA Basics of Rating English
HTML and CSS- Web students Times: HTML and 4.2 out of
Development By 01Hour:11 Creating 6,825
Doing: HTML / CSS Minutes:09 websites ratings
From Scratch Seconds
Source: Data Complied by Researchers from Website of StartUp India
Benefits of Online education 5. Self-paced courses
1. Lesser Costs or freer 6. Location benefits
2. Access to Experts of Industry: IIMs, IITs & 7. Enhancing self-discipline

Central Universities like Business schools,
industry professionals and National level 8. Studying from desktop, laptop, iPads,
organizations like CSI, AIMA, ISCA, ICA etc. Smartphones etc.
3. Easy Application process 9. A variety of options and choices in courses
4. Meeting new people whom we don't know 10. On the job courses

11. Boundary less education. (One can study from entrepreneurs recognized/registered by
Foreign Universities also) Department for Promotion of Industry and Internal
Trade (DPIIT). Among these 20 courses, GoI runs
Challenges for Online education 13 courses in collaboration with other parties,
whereas only seven courses are created by foreign
1. Internet connection mandatory agencies. The courses created by Government of
India in collaboration with National Programme on
2. Brand selection Technology Enhanced Learning (NPTEL, which is
a project of Ministry of Human Resource and
3. Authenticity of content Development) are on Management (8 courses) and
Humanities & Social Sciences (2 courses). There is
4. Training and placements only One course of Management that is run
exclusively by Government of India. This shows
5. Lower awareness of internet and online that most of the skill development courses offered
education platforms by GoI are from management field. The rest Seven
courses offered by foreign agencies are related to
6. Price of content knowledge of computer, website developments,
applications development, accounting and
7. No physical interaction with teachers and personality development etc. Some of these
learning from e-gadgets only courses are provided free while few courses charge
certain fees.
8. Needs more concentration and self-discipline
Conclusion
9. More instructions from teacher end on set
pattern and less creativity by student end After analyzing the information and content of
websites it is found that there are a large number of
10. Difficulty in selecting best course platforms offering online education. It is observed
after content analysis of different websites that
11. Overloaded information almost the entire content (from the language of
websites to study material) of the websites is in
Findings English language. Since, most of the Bhartiya
people understand the native language Hindi or
The study identified 18 online learning platforms local language like Tamil, Bengali, Punjabi,
for competitive exams like SSC, IBPS, IAS and 12 Bhojpuri etc. The commonly preference by the
learning platforms for students from Nursery to Bhartiya's is to take the courses in Hindi language
Post-graduation. IIM Banguluru is providing in which they are very much comfortable. But in
online-course training on 52 subjects, and all are Hindi the internet based education is very low,
from management field. The study has also which is the major opportunities for entrepreneurs
identifies 18 websites for the Ph.D. Scholars in to develop the content, websites, Mobile Apps etc.
India to satisfy their thrust for research knowledge. However, one thing is certain that the future in
The findings also illustrate that GoI offers 20 online education platforms is very bright for young
online education courses through different entrepreneurs. The new entrepreneurs have an
platforms for aspiring entrepreneurs and opportunity to start their own online education

platforms (websites and mobile applications both) like CRISP should be created, promoted and
in Hindi language, which can be further started in accepted by the education system in India, where
regional Bhartiya languages. the uniformity in thoughts, structure and
presentation layout will be represented by the
This conceptual study found that most of the online presenters. Thus, the current study will be of
education platforms, charge fees for certificates, benefit to the people curious to learn new things
though they claim freer. The entrepreneurs can and the upcoming entrepreneurs.
grab this gap/ opportunities by charging un-paid
certificates via skill based online education by Scope For Future Research
getting the revenue from web based advertising
(WBA). The online education platforms are also The present study too has some limitations which
required to create awareness among the online can be considered as a problem in future research
education seekers, so that the strength of online works. The present study has focused only on 12
students can be enhanced in near future. This online education platforms for students from
conceptual paper highlights the upcoming trends Primary to Post-graduation but there are more
which will enhance business prospects for similar platforms available for them which are not
entrepreneurs in skill based online education. The considered. Further, there are many more websites
entrepreneurs can start similar online education for competitive exam seekers which can be
platforms or new platforms with technological targeted in future research.
innovations which will substantiate to be a
milestone in business prospects. Future research can also be done to understand the
perception of students about these online education
Recommendations platforms. The understanding and knowledge level
of students can be checked using pre and post
Getting education is a fundamental right as well as adoption of these online education courses.
a continuous process that requires the active
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Skilling and Growth Nexus -
Measurement, Policy and challenges in the context of India
6 (1) 96-106
Sumit Kumar Mishra*
Abstract
“If we have to promote the development of our country then our mission has to be skill development and skilled India”
… Prime Minister Narendra Modi
Skill is the capability to do something nicely, create something new and innovations leading from existing talent,
training, or practice. It is also the ability to provide solutions to the different kind of problems and situations.
Developments of these skills are very important for the economic prosperity of the country. Skilling is considered to
be one of the most important factor as it certainly leads to economic growth by building capability and making
economy self-sustainable. Skill and the right set of knowledge are also regarded as the key factors for the growth and
social upliftment of any country. It is noticed that the countries having skilled labor force find it easier to adjust in the
competitiveness nature of world of work. Skilled labors are not prone to changing work environment of world.
India is on the verge of becoming a knowledge economy. It is therefore indispensable to identify the right set of skills
required to be imparted to labor force and lead them towards capability development.To accomplish the very objective
of the economic growth, the Gross Domestic Product (GDP) of India has to grow at a rapid pace of 8% to 9%
consistently. This will require some major changes and significant improvement in infrastructure sector, agricultural
sector, manufacturing sector and also need skilled labor force to fasten the process of goods and services delivery.
Major challenge India withholds is not only to impart skill leading to economic prosperity but to soak in the excess
supply of labor coming from rural sector. India is a labor intensive country and there is labor availability in abundance.
With the limited training infrastructure, it is indeed a challenging task to train this vast number of laborers in India and
turn them into productive skilled workforce. Even the lack of awareness among labor force to go through training
program is other issue. As per the National Skill Development Mission (NSDM) Document, there is a shortage of the
trained laborers in India. Only 2.3 percent of the workers in India went through formal training. If we look at the
statistics of labor force attending training for some other country, it was like sixty-seven percent in United Kingdom,
seventy-five percent in Germany, eighty percent in Japan and so on. All these countries are already a developed nation.
This fact reveals an interesting finding that the pool of Indian workforce mostly lacked requisite skills and was mostly
unemployable.High percentage of labor receiving training makes them skilled and capable. It also shows a pattern of a
linear correlation among developed nation workforce and skill.
Key words: Skill; Skilling and growth
Introduction learning are central pillars of employability,

employment of workers and sustainable enterprise
“Education, vocational training and lifelong development”- International Labor Organization
*Consultant, Ernst & Young, Mail: mishra.bgp@gmail.com

Skilling and Growth Nexus - Measurement, Policy and challenges in the context of India 97
Skills and knowledge are key drivers of look at India now, it's working age population is
macroeconomic growth and socioeconomic growing faster than its young age population and
stability. All those country characterized by the old aged population. This increased percentage
advanced level of skills adjusts more efficiently to of working class population in the “demographic
the challenge and prospects of the world. In a dividend” will benefit any economy socially or
knowledge economy-knowledge leads to economically. The economic growth will be
economic growth- it is imparted, acquired, boosted up as the higher numbers of labors gets
transferred turning economic growth into productively employed, ultimately leading to
development. A knowledge economy constantly higher wages. This in turn will lead to higher
modifies its education system and incurs huge savings and therefore higher investment. Higher
amount of investment to modernize education as investment will expand the economic activities and
per the trends, needs and requirement of the India will be following a path to be a developed
changing economy. Far-reaching adjustments and nation from developing one.
changes are required right from teaching stage to
learning stage. These adjustments are essential to Research Objective:
improving the skills. “Skills” not only includes
traditional hard skills and IT competencies but also The research objectives addresses following
the “soft skills” which are knowledge discovery, question:
problem solving, spirit of enquiry, adaptability,
self-learning, social empathy and motivation to Ÿ whether correlation exist between skilling and
work. growth
Ÿ Challenges in implementation of Skilling
Skilling is the way to continuously improve Ÿ To understand policy measures taken towards
productivity. Capability building via skilling skilling and translating it into economic
makes economy self-sustainable. Skilling and growth
entrepreneurship complement each other and lead
to economic growth. Literature review:
India is well poised when it comes to its There have been various studies conducted to
demographic dividend and can use this towards know the trends and correlation among Human
accelerating its economic growth. However, the capital (skilling) and economic growth right from
excess supply of labor has to be turned into a skilled 1980's. The quantitative association among these
workforce for fetching a gainful employment. The two variables were found to be positive and
demographic dividend also plays a very crucial significant. Summary of the some of the empirical
role in the nexus between skilling and growth. If we research conducted are as follows:

Table: - Literature Review analysis
Authors Country Period Results
Romer 112 countries 1960-1985
Benhabib and Spiegel 78 countries 1965-1985
Freire-Seren 72 , 65, and 22 countries 1960-1990 Increase in human

capital leads to surge in Growth
Ljunberg and Nilsson Sweden 1870-2000
Aka and Dumont USA 1929-1996
Haldar and Mallik India 1960-2006
Romer conducted the study to assess the impact of Research Gap:

skilling in his endogenous growth models. His study
suggested that literacy rate has been significantly The study is limited and confined to the India's
associated with the rate of investment and showed it macroeconomic environment. Whether skilling leading
indirectly lead to economic growth. Benhabib and to growth and established nexus has not been studied in
Spiegel conducted the study of impact on skilling global context. In data analysis, the only indicator used
(Human capital) on factor productivity. There was again to proxy skilling is employment data. This is done on
a statistical significant result showing positive assumption that only skill people would have got
correlation among the variables. His analysis can be employed.
broken into two parts. Freire-seren analyzed the link
between the human capital and how it leads to growth Research Methodology:
and development in various countries. His findings
were that level of income was positively and Secondary data sources (research papers, journals,
significantly associated with human capital buildup. articles, and magazines) were used to study the defined
Ljunberg and Nilsson studies and finding suggested that objectives. The research design is more of descriptive in
human capital because of the education where the nature. Having the clear set of objectives, the research
primary reason for continuous growth during 19th and design was formulated to conduct the in-depth analysis
early 20th century for Sweden. Higher education often of the study with accuracy.
leads to growth. Aka and Dumont tried to study
howskill, knowledge education experience of an The data for Human capital in term to skilling is
individual leadto growth eventually leading to collected from CEIC website. The data for skilling is
development over USA during the period of 1929-1996. proxy by data for number of person employed in India
Linear relationship between human capital variables from 2000 to 2011. In other words, employment number
and economic growth was observed. In the Indian were taken as a parameter for skilling on the assumption
context, Haldar and Malik tried to study the investment that only skilled workforce were employed. The GDP
behavior in physical capital and human capital and the data for measuring economic growth for same time was
output. The findings were interesting. The result taken from Wikipedia. The standard OLS regression
showed that investment in physical capital had no long framework was used to assess the relationship between
run and short impact but investment in human capital Skilling and growth rate. The data set look like as
had significant and positive relation to long run per follows.
capita GNP.

Year GDP GDP Employed person
(in bil. US$ PPP (INR) (Number)
2000 2,077.90 2,077,900,000,000 27,789,200
2001 2,230.40 2,230,400,000,000 27,205,500
2002 2,353.10 2,353,100,000,000 27,000,300
2003 2,590.70 2,590,700,000,000 26,442,700
2004 2,870.80 2,870,800,000,000 26,458,400
2005 3,238.30 3,238,300,000,000 26,992,000
2006 3,647.00 3,647,000,000,000 27,277,000
2007 4,111.10 4,111,100,000,000 27,549,000
2008 4,354.80 4,354,800,000,000 28,166,648
2009 4,759.90 4,759,900,000,000 28,708,000
2010 5,312.40 5,312,400,000,000 28,999,000
2011 5,782.00 5,782,000,000,000 29,579,000
Analysis& Findings: change in the dependent variable explained by

independent or explanatory variable. In my data growth
The findings of the study conducted were that rate is the dependent variable and employment is the
employment was positively related to growth rate. The explanatory variable. Since, only one factor was taken
results were statistically significant and showed direct as an independent variable, 70 % of the variation in the
relation between the economic growth and employment growth is explained by employment factor. The P value
data. Increase in employment will lead to increase in is less than 0.05 and therefore the result is statistically
2
economic growth. R value shows the proportion of significant and the regression model is a good fit of data.
Slope Coefficient Significance(P value) R square value

Intercept term -2.55296E+13 0.0015**
Employed person 1052735.124 0.00062** 0.70
Further Discussion and Findings leads to more employment generation, which absorbs
skilled labor and in turn further trigger economic
Skilling and growth nexus: growth. There are various macro-economic factors
leading to economic growth. Out of the various macro-
There seems to be high correlation among the economic variables or determinant of the growth, Ex-
proportion of skilled employees and the growth and Vice President of India Md. Hamid Ansari made a point
development of a nation. Inclusive economic growth that that Human capital would be the primary

determinants of the economic growth and the overall 5.6%, going up to 7.6% in 2015-2016, and 7.2% in the
progress of the country. Skill development creates a last quarter of 2018-19(Wikipedia data).However, this
pool of productive workforce and widens the fast economic growth, contrasts with an unorganized
productivity of the existing workforce. This leads to labor market. There has been certain gap in creating
inclusive growth as more of the country's youth inclusive growth, improving productivity of labor, and
population are employed. As more working age a formal labor market. The demographic dividend of
population gets absorbed in the formal or informal India gives it a luxury to accelerate this economic
sector, they will have their means of earning. The growth and move towards becoming a developed
quality of life or rather says standard of living will get nation. Investment in the skill development program
better. They will contribute to the economy in the form will ensure that economic growth is more inclusive as it
of tax and their dependence on government help will fetch a gainful and productive employment to most
programs will reduce. The government can carry out its number of people.
fiscal operation with much of ease and layout more
development programs. If the economy is self- Current skilling analysis:
sustaining and well-functioning, the GDP growth will
be evenly poised showing good numbers and economy According to the India skill report of 2015, India still
will move swiftly. The GDP to Debt ratio will improve lacked on the developing the skills of its workforce. Out
and so the balance of payment giving huge acceleration of the total participants trying to enter the labor market,
rd
to economic growth. only 1/3 of them were having the appropriate skills
required for the job. However, there have been some
India's demographic dividend can be used to its improvements over the last few years. The 2019 skill
advantage with proper skilling: report found that employability has continued to rise
and it has increased from 33.95% in 2014 to 47.38% in
th
India has now become the 5 largest economy of the 2019.
word. The GDP growth rate in the year 2012-2013 was
Table: year employability percentage since 2014
Year Employability percentage
2014 33.95%
2015 37.22%
2016 38.12%
2017 40.44%
2018 45.60%
2019 47.38%
Source: Skill India report 2019
Skill requirement of India latest by 2022: requirement of the highly skilled labor force across
major sectors like health care, financial services,
Because of abundantly available human capital, IT, pharmaceuticals, etc. Further, the “Make in
India has become one of the firmest nation turning India” scheme under the flagship program is
into knowledge economy. With its strengthening expected to give a big push to the value added
knowledge economy base, there will be massive industries and there will be requirement of high

skilled labor to meet the requirements of high-end Development Cooperation over the period of 2010-
industries. 2014, it was reported that by 2022 there will be
requirement of additional 109.73 million skilled
As per the research conducted by the National Skill workforces across 24 major sectors in India.
Table: Additional workforce necessity across 24 different sectors by 2022

S. No Sectors Employment figures Forecasted Employment Additional requirement
1 Auto and Auto Components for 2013(million) by 2022(million) from 2013-2022(million)
2 Beauty and wellness 10.98 14.88 3.9
3 Food Processing 4.21 14.27 10.06
4 Media and entertainment 6.98 11.38 4.4
5 Handloom andhandicraft 0.4 1.3 0.9
6 Leather and leather goods 11.65 17.79 6.14
7 Domestic help 3.09 6.81 3.72
8 Gems and jeweler 6 10.88 4.88
9 Telecommunication 4.64 8.23 3.59
10 Tourism, hospitality and travel 2.08 4.16 2.08
11 Furniture and furnishing 6.96 13.44 6.48
12 Building construction and real estate 4.11 11.29 7.18
13 IT and ITEs 45.42 76.55 31.13
14 Construction material and building hardware 2.96 5.12 2.16
15 Textile and clothing 8.3 11 2.7
16 Health care 15.23 21.54 6.31
17 Security 3.59 7.39 3.8
18 Agriculture 7 11.83 4.83
19 Education skill development 240.4 215.6 24.8
20 Transportation and logistics 13.02 17.31 4.29
21 Electronic and IT hardware 16.74 28.4 11.66
22 Pharma and life sciences 4.33 8.94 4.61
23 BFSI 1.86 3.58 1.72
24 Retail 2.55 4.25 1.7
Total 38.6 55.95 17.35
Removal of Duplication in retail sector 461.1 581.89 120.79
Total requirement 10.37 21.43 11.06
450.73 560.46 109.73
Source: Ministry of skill development and entrepreneurship
As per the India Skill Report, 2019 it was estimated and therefore affects the Indian IT sector and the
that the Indian workforce would reach around 600 business process outsourcing sector. These sectors
million by 2022 from the current level of 473 are the primary players for creating additional pool
million, i.e., an increase of 27 percent. This of employment and are expected to create or hire
increase in work force would mainly be because of 2.5 million to 3 million more workers by 2025.
a well-functioning and expanded Indian domestic However, the pre-requisite condition remains the
market and adoption of new technologies like same that the workforce should have suitable
robotics and Artificial Intelligence (AI). The skilled as per the requirement of the companies.
automation technology has reached a high level Between 2014 to 2017, increased government

spending, massive hiring by IT, and increasing people ageing 15-29 will join the workforce
trend as an independent worker and every month.The working age population of
entrepreneurship fetched gainful employment to India ageing 19 to 59 is expected to expand, as
almost 20 to 26 million people. Therefore, skill 47 million more people will join the workforce.
development has to continue for the increasing This demographic dividend is expected peak by
workforce to get absorbed in the market and 2040. Overall nearly 70 million workers are
ultimately leading to growth trajectory and overall estimated to enter the workforce during 2018-
development. 2022. These people have to be skilled India has
to reap the benefits of its demographic
Challenges in the implementation of successful structure.
skilling initiatives:
Ÿ Nearly 468 million of workforce in India
Investment in skilling and development will create requires up-skilling and re-skilling. The major
a pool of productive workforce and widen the challenge here is that almost 92 % percent of
productivity of the existing workforce. The Boston the Indian labor force population constitute in
consulting group conducted a research where they the informal sector.
have discussed the mismatch problem of demand
and supply of labor faced by the world. It was Ÿ Almost half of the workers in India have
reported that the world will require 47million more educational attainment below secondary
people by 2022 and India will have an excess of school and no vocational schooling. It was
supply of labor with an estimated number of around found that 31% of the workforce was illiterate,
56 million. Now if these workforces are equipped 13% percent were having primary education
with the appropriate skills, the supply gap can be and only 6% percent were college graduates.
filled giving huge economic boom. India has the
problem of plenty, which needs to be resolved by Ÿ The unemployment rate for the graduates
skill development for turning these into productive ageing 20-24 was reported to be 29%, between
and employable workforces. 25-29 to be 12% and for 30-34 was 4%.
However, there are many challenges in exercising Ÿ In addition, the participation of women in labor
this skilling and implementing it: force needs to be improved. In the urban area,
women labor force participation was reported
Ÿ The first and foremost challenge is to create to be 21% compared to 36% in rural areas.
stimulus for the economic growth, which could Between 2005 and 2012, almost 15 million
absorb the opportunity of demographic women dropped out from the labor force
dividend India has. participation.
Ÿ Second most important challenge is to either As regards implementation of skilling, problem is

up-skill or re-skill the working age population that the capacity of the Government/private
lying between ages 30 – 59.Globally, it is training institutes is limited to absorb the growing
believed that 75 % of the workforce will require working age population of India. Further, the
adding new skill mainly in automation. training programs have eligibility criteria, which
th
require minimum education until class 8 . This
Ÿ It is expected that by 2022, nearly 1.25 million excludes illiterate working population from

receiving training. Moreover, the curriculum and · Pradhan Mantri Kaushal Vikas Yojana-
the course pattern of training programs are not in ensures self-employment for those unable
alignment with the expertise and experience to fetch secured wage employment.
required at working in companies and the market
behavior. Lack of participation by private sector Apart from this entrepreneurship, training
enterprises in training also makes apprenticeship programs, various flagship programs have also
training for students far out reaching. These are the been launched - Make in India, Start-Up-India, and
major obstacles in meeting the training Digital India. The main motive of these flagship
requirements of working population of India. programs is to spur employment generation by
creating productive and skilled micro, small and
Generation of productive and gainful employment medium enterprises. These will create huge
opportunities depends on the availability of skilled demand of labor and job creation.
labor force, which is possible by sustained
investment in skill and development leading to For training, PPP (Public private partnership)
enough job creation by entrepreneurship. Policy model has been introduced where the training
measures are required to fill the void space between provided is being funded by private enterprises.
skill deficit and the employment generation. Range The government has also introduced the
of policies will be required to address the issues Apprenticeship Act where private entities are
like education system, cognitive, technical, compulsorily supposed to hire certain number of
vocational and behavioral skills, on job training in apprentices and train them. The government is also
both formal and informal sectors. taking initiatives to make international
collaboration with institutions like the UN
Government initiatives: prioritizing on skills, entrepreneurship and job
creation programs.
The government has taken various policy measures
to address the problem of lack of skills in the labor Conclusion:
force. The Ministry of Skill Development and
Entrepreneurship has been established by the For any economy to be competitive and accelerates
central government of India to boost up the its existing growth rate, skilled workforce plays a
entrepreneurial skills of the workforce. Some of the very crucial and important role. Skill development
entrepreneurial training programs are as follows: is regarded as the prominent factor for the growth
of the economy. There is a requirement of the
· Startup India learning program: free online collective determination from all the participants
learning classes and promoting bank like training institutions, government, and
finances for the startup venture. workforce to make it a successful program. The
policy has to be far reaching and if reached to larger
· Deen Dayal Upadhayay Swaniyojan audience, will have greater impact on employment
Yojana- promotes entrepreneurship among generation. This will not only boost up the
self-help groups and women. This program functioning of the economy but also provide
provides skill for livelihood generation and skilled labor for the flagship program like Make in
self-employment with the availability of India. Vocational training and PPP model also play
credit access through government backed their part in imparting skill. NSDC has made recent
loans. progress in developing better training

infrastructure by more public private partnership. investment.

There has to be emphasis on the skill India · The focus should be on the inclusive growth
entrepreneurship as it leads to creation of massive where investment in skill and development will
employment opportunities. The schemes like Start provide gainful employment to the massive
up India and Stand up India need more promotion unemployed work force.
for maximum awareness among people and so that
they can be the beneficiaries of the model. India is Skill provider's policy measures:
moving towards becoming a Knowledge economy
and therefore it is very important to have a skilled · The existing and new workforce should be
work force and the skills imparted have to be very trained as per the needs and requirement of the
much in alignment with needs and requirement of modern day functioning of industry and the
the modern day business. business. It is very important to determine the
type of skills required which can actually break
S u g g e s t e d p o l i c y m e a s u re s a n d o t h e r the vicious cycle of low skilled labor and lack of
Recommendation: job creation.
The favorable conditions for sustained and stable · Analysis and effective method of performance
economic growth can be created by imparting the evaluation are very important parts of training
required skills to the workforce for fetching gainful as these are pre-cursor for up-skilling, and
employment. There is no reason why a country resultant growth.
cannot become an aspiration nation fulfilling the
dreams of millions of its citizens. However, the
· The concept of on the job training has to be
challenges faced are numerous and require
taken more widely not just be applicable to large
additional policy measures:
firms. It has to be applicable to smaller firms and
in informal sector as well.
Government policy measures:
· The skilling institutions and the education
· De-regulation of the labor market is required.
system need to be work in alignment with the
Formalisation will provide incentive to the
trends and the skills and competencies required
private entities to invest in up-skilling their
by industry. This could be followed effectively
workers. The workers also find it in their interest
by measures like Apprenticeships act, and on
to be up skilled apart from having better
the job training measures.
working condition and the social security
benefits. There should not be any legal
· The education system should be revised
hindrances in conversion of informal jobs into
gradually based on the changing nature and
formal sector jobs.
trend developing in the economy. The education
should also impart social and behavioral skills
· There should be investments in the sectors that
along with higher cognitive skills. Vocational
seem promising for employment generation-
education needs revision to be up to the
directly inside the sector and indirectly even
workforce requirement.
outside the sector. The government should
promote ease of doing business and structured

Policy measures from employment perspective: 12. Scope for further research:
· There should be increased participation into · Study is restricted to Indian macroeconomic

practices like apprenticeships act, and on the environment only and challenges and policy
job training measures. measures are discussed in same context.
Skilling and growth nexus research can be done
· Firms should be following the corporate social on a global level and recommendation can be
responsibility. provided for the same.
· Employers should be continuously involved in · There was only one indicator which was
up-skilling and re-skilling the existing employment data serving as a proxy for
workforce and providing training to the new skilling. There can be various research where
entrant in the work force. more than one independent variables could be
taken as proxy indicator of Skilling
· Modern labor and human resource practices are
expected to be adopted by the employers. · This research study is primarily based on
secondary data. There can be research based on
· The employers should be supportive to their mix of primary and secondary data.
employees and not lay them off during
economic crunch. References:
1 Paul Romer, 'Human capital and growth: Theory and

These policy measures can actually lead to creation Evidence,'NBER working paper series, No.3173,1989
of a virtuous cycle of better employment
opportunities by spurring economic growth, 2 Benhabib,J., &Mark Spiegel. “The role of human capital in
spurring job growth in companies and ensuring that economic capital in economic development Evidence from
the labor force has the desired skills for getting a Aggregate Cross-Country Data', Journal of Monetary
Economics, No. 34(2), 143-173,1994
job. The policy measures should focus on the gap
prevailing between the education pattern and needs 3 Maria. J. Freire Seren, 'Human capital accumulation and
of industries. There is a lack of market for skills, economic growth: Investigation Economics, vol.25,
which requires heavy investment in skill and no.3,2001
development. The data analysis also showed that is
a strong correlation between skilling and 4 Jonas Ljunberg and Anders Nilsson,'Human capital and
Economic Growth: Sweden 1870-2000, journal of historical
employment. Once, landing up into productive
economics and econometrics history, vol.3, no.1,2009
gainful employment, one can improve their
standard of living leading to social development of 5 Bedika Aka and Jean C. Dumont,' Health education and
a nation. They also contribute to the economic economic growth” testing for long run relationship
development of the country as they do not
withstand as a liability dependent on the 6 Raul Ramos, Jordi Surinach and Manuel Artis, 'Regional
economic growth and human capital: the role of over
government programs for their sustenance. Higher
education
the skilled labor force, they bring economic
prosperity. 7 Sushil khaldar and Malik,' does human capital cause

economic growth? A case of India,' International journal of 2015.

economic science and applied research, vol 3, No.1, s.7-
25,2010 11 NSSO 61st and 68th Rounds (2014 and previous rounds)
8 ICRA Management Consulting Services Limited. The Skill and Ministry of Skill Development and Entrepreneurship
Development Landscape in India and Implementing Quality 2015.
Skills Training; 3rd Global Skill Summit of the Federation of
Indian Chambers of Commerce & Industry (FICCI). 2010 12 NSSO 61st and 68th Rounds (2014 and previous rounds)
Aug and Ministry of Skill Development and Entrepreneurship
2015.
9Wheel box. India Skills Report. 2016. Available from:
https://wheebox.com/logo/ISR-2016-small.pdf Date 13NSSO 2014. Data are for 2011–12
accessed: 16/10/16
14NSSO 2014. Data are for 2011–12
10 NSSO 61st and 68th Rounds (2014 and previous rounds)
and Ministry of Skill Development and Entrepreneurship 5 NSSO 2014. Data are for 2011–12

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Indian Startups: Analyzing Their Vulnerabilities and Prevailing Challenges

Article · December 2019

Studies on Primary Healthcare View project

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Introduction: understanding of new concepts, technologies,

Vol. VI, No. 1; December-2019

1.1 Startups in India

Source: Nasscom Report 2017

Vol. VI, No. 1; December-2019

Name of The Scheme Headed By Industry Applicable Fiscal Incentive

Bank Credit Facilitation National Small Sector-agnostic N/A

Research Objective · To study the effect of different barriers such as

Vol. VI, No. 1; December-2019

Vol. VI, No. 1; December-2019

Fig 3: Non Tech Startup Distribution

(Source: Xeler8 Analytics)

Vol. VI, No. 1; December-2019

Fig 4: Employees in Startups

(Source: Data survey)

(Source: startup stories, Times of India)

Vol. VI, No. 1; December-2019

Fig 6 : PROBLEMS FACED BY STARTUPS

Capital Problem Infrastructure Problem Documentation

(Source: Data survey)

A s p e r t h e s t u d y, C a p i t a l P r o b l e m a n d capital or resources and availing right

Fig 7 : Government Support

Borrowing Documentation Tax Concession No Help Other Helps

Vol. VI, No. 1; December-2019

Fig 8: Time to reach Breaking Point

Less than 6 months 6 to 18 months 18 months to 3 years 3 years +

Fig 9: Effect of Demonetisation

Vol. VI, No. 1; December-2019

Fig 10 : Banking Facilities

(1- Very Poor, 2-Not Helpful, 3- Average, 4- Good, 5-Very Cooperative)

Fig 11: GST Effect

consultancy finance IT Others

(1- Severe, 2-Moderate, 3- Normal, 4- Almost Negligible, 5-Positive Impact)

Vol. VI, No. 1; December-2019

Sector wise Impact of GST and Demonetization

CONSULTANCY FINANCE IT OTHERS

DEMONETISATION'S EFFECT GST'S EFFECT

(Source: Data survey)

Source of Funding for Start-ups

Grants from Govt Loans Angel Investment

(Source: Data survey)

Vol. VI, No. 1; December-2019

Fig 14: Comparison of Fundings

Funding Pattern & Deals (2014-2017)

Fig 15(a): Startup Deals

0 200 400 600 800 1000 1200

Source – Indian tech startup funding report 2017)

Vol. VI, No. 1; December-2019

Fig 15(b) : Startup Funding

Sectorwise Deals & Funding

SECTORS TOTAL DEALS TOTAL FUNDING

ENTERPRISE 131 $4.6bn

SECTORS TOTAL DEALS TOTAL FUNDING ($bn)

Vol. VI, No. 1; December-2019

Venture funds for Start-ups

Fig 16 : Diversification of Startup W.R.T. Turnover

(Source: Data survey)

Vol. VI, No. 1; December-2019

G S Rathore, Bhagwan Singh, Sachin Kumar, Rita Rai, Kamlesh Kumar*