Delhi, December 16, 2015: With the Modi Government allocating Rs. 1,000 crore in the Union Budget 2015, entrepreneurship is the new buzzword in Indian business corridors. An Economic Times initiative ‘Entrepreneurship Summit’ held in Delhi attended to the trends and solutions in the segment of entrepreneurship in India.

Opening the event, Shri Kalraj Mishra, Union Minister, MSME said, ” The year 2015 has been fantastic for start-ups in India. The country has emerged as the fastest growing base of start-ups worldwide. India is one among the first five largest start-up communities in the world with the number of start-ups crossing 4,200. With the present government’s ‘Start-up India, Stand up India’ campaign, the budding entrepreneurs will be further encouraged.”

Meanwhile, ‘Start-up India – Momentous Rise of the Indian Startup Ecosystem’, a recent Nasscom report informs that India has been declared as the youngest start-up nation in the world, with the average age of entrepreneurs being less than 35 years. India, it states, is the 5th largest start-up ecosystem in the world with total number of start-ups growing to 4200.

The Indian entrepreneurship segment is at a startup maturity cycle which is believed to make Indian entrepreneurial ventures and the entire startup ecosystem stronger. With a healthy cash inflow, entrepreneurship in India is facilitating braving risk takers and young entrepreneurs who are not only content with domestic success but also have global aspirations.

Adding to the nuances of building a business, Pranay Chulet, Founder, Quikr said, “There is a need to be scalable in any business. When a sudden demand arises, a business should be able to adapt and keep in tandem with the situation. Flexibility, sustainability and scalability are the essence of up and coming businesses.”

The summit also saw discussions on the nuances of creating  a brand were Ashish Shah, Founder & CEO, Pepperfry and Ajay Bijli, MD, PVR Cinemas contributed extensively. Additionally, the summit also saw women game changers in entrepreneurship come together in an interactive round table session where they spoke of  focus on improving the business environment that exists in India.

Runa Bannerjee, General Secretary, Self Employed Women’s Association (SEWA) said, ” A conducive business environment is one of the biggest hurdles in attracting greater investments from all over the globe. Ironically, the only thing stymieing business in India is India’s policies itself.”