Vivekananda's Advice To Indian Entrepreneurs

While india remains an oasis of growth in a global sandstorm, we are seeing a thriving startup ecosystem. India has now become the 3rd biggest startup nation and 3rd biggest startup ecosystem in the world

- Sumeet Mehta

January is a momentous month for India. The first month of the Gregorian Calendar is also the month when two of the most illustrious and acclaimed sons of Maa Bharati - Narendra Dutta aka Swami Vivekananda and Subhash Chandra Bose aka Netaji were born on January 12th and January 23rd respectively. We have been celebrating the birth anniversaries of these two lighthouses of Bharatiya civilisational consciousness for a very long time. However, this year is different. India, that is Bharat, is hosting and chairing the G20 Summit this year. Amongst various tracks, we are hosting two very interesting and relevant tracks - StartUp 20 and Business 20. These two tracks testify the rising significance of India as an economic powerhouse that will propel global economic growth.

FASTEST GROWING ECONOMY

The World Bank estimates India is the fastest-growing economy in 2023, with a forecasted GDP growth rate revised upwards from 6.5 per cent to 6.9 per cent. The World Bank estimates Indian economy to grow at a faster pace than its previous estimates, in a time when it has revised its global GDP growth to 1.7 per cent in 2023. This is a downward revision of 1.3 per cent from its earlier forecast of 3 per cent for 2023, which was done six months ago. In its report titled "Navigating the Storm", the World Bank has stated that despite external challenges, the Indian economy is relatively well positioned to weather global spillovers compared to most other emerging markets. The World Bank also says that India is better positioned to navigate its economic growth amid global headwinds that could hamper growth globally and in many vulnerable economies.