A manifold growth of awareness and India’s recognition as a country of talented youth with extra ordinary intellect has opened platform with plethora of opportunities for Indian young minds. Some of the big Indian names doing extremely well on global platform are Google CEO Sunder Pichai, Microsoft
CEO Satya Nadella, Sanjay Kumar Jha CEO– Global Foundries, Nikesh Arora CEO– Soft Bank Internet and Media Inc. These leaders are idealized models for many young Indians. Their success motivates Indian youth to aim for such positions in corporate sectors. On the other hand , there is another segment of leaders. They are founders of startups like Rahul Bahl and Rohit Bansal (Snapdeal), Sachin Bansal and Binny Bansal (Flipkart founders), Nitin Saluja and Raghav Verma (Chaayos founders), and Ritesh Aggarwal, (OYO rooms founder).
These names belong to different league altogether. They once decided to work on their entrepreneurship idea and that resulted in huge success for them. These leaders are doing wonders in entrepreneurship and driving young minds to choose job creation over job search. Apart from inspiration factor, there are many other things contributing to flaring the passion for entrepreneurship among young Indians.
In order to explore the possible reasons behind the mentioned preference, it is important to understand that India has a gigantesque youth population of around 300 million with very limited job options. The million dollar question in such situation is that which industry has the potential to absorb the employees of such humongous scale? The only rational answer to this problem is entrepreneurship. Entrepreneurs and startups play significant role in driving economic growth and job creation.
According to 2014 report for the G20 Young Entrepreneurs’ Alliance, it was estimated that digital entrepreneurs could create 10 million jobs in span of next five years. In 2011, IIM Ahmedabad graduates, Radhakrishna and Raghunandan G, launched Taxiforsure as an online platform through which consumers can rent taxis. BITS Pilani batchmates, Phanindra Sama, Charan Padmaraju and Sudhakar Pasupunuri founded the pioneering venture RedBus together.
In June 2013, they sold RedBus to the Ibibo Group for an estimated Rs 600-700 crore, the biggest overseas strategic acquisition of an Indian internet asset. Another example of successful ventures is that of TravelTriangle, an online travel services company launched by IITians Sankalp Agrawal and Sanchit Garg that is clocking revenues in crores.
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