The Indian fintech industry is likely to continue its current boom in growth, with the global Fintech software and services sector predicted to touch USD 45 billion by 2020 at a Compound Annual Growth Rate (CAGR) of 7.1%. Source: makeinindia.com Please follow and like us:
India’s startup ecosystem has seen an exponential rise since the startup culture first took over the country. The country is reported to have been teeming with close to 19,000 technology-enabled startups in the year 2016. Clearly, this number is expected to multiply by manyfold in the coming years. However, most of them fail and shut shop due to operational and financial difficulties. To help address this problem, the Government of India under the leadership of PM Narendra Modi launched the Startup India program on 16 January 2016. The program was launched with a view to promote the growth of startups in India, encourage entrepreneurship and create more jobs, thereby, contributing to the development of the Indian economy.