Promotion and Development of “Start-ups” Through Corporate Social Responsibility Initiatives in India

Abstract

Indian economy is a fifth largest developing economy. It has been grown in between the periods of time (1991 – 2016) India’s GDP stood at Rs 5,862,120 million in 1991 and in 2016 it was at Rs 1,35,760,860 million economy with 2, 216 percent growth. At the same time, global disparities are growing with industrially and technologically more advanced countries by accessing the ever increased digital technologies, online platforms, data analytics, automation and robotics and capitalizing the globalized opportunities. Hence, as a second highly populated country like India should access the technologies to promote various start-ups in to globalized established corporations for economic development and to be the second largest economy in the world by 2050. The start-ups support and help to absorb productive resources at all levels of the economy. It contributes to the creation of resilient economic systems in which start-ups ecosystems and small and large firms are interlinked. Such increasing linkages support, attract foreign direct investment and investing transnational corporations seek reliable domestic suppliers for their supply chains. In agriculture and allied sector start-ups also have a potential to empower millions of farmers and farm women to address the food and nutrition security, livelihood security and other sustainable development goals. But still funding activities are the biggest driving factors in the start-up ecosystem. Hence, appropriate funds and other assistance may enrich the start-up ecosystem to boost up the Indian economy in the globalized platforms. So, the CSR funds plays very important source to capitalize the start-up ecosystem in to sustainable development based economic ecosystems.