India’s digital market has been the main focus of investors in recent years, with tech giants such as Google, Facebook and Snapdeal all taking up stakes.
However, the biggest names in the industry have been left out of this.
While some of the Indian startups have been doing well for themselves, many have failed to achieve much traction in the market.
In fact, this has led to concerns that a lack of investors has led the industry to stagnate and, ultimately, to failure.
But this is not the case in the case of digital startups, which have been a key driver of growth in the country.
As reported by CNBC, the government has decided to fund an initial round of funding of $1 billion to fund a range of projects that will create jobs, boost the economy and improve infrastructure.
The money will be used to help create around 1.5 lakh jobs in India, the Indian Business Intelligence Service (IBIS) said in a report.
These include 3,000 jobs in the IT and digital services sector, 1,000 in healthcare and 1,500 in digital marketing.
Other companies, such as Flipkart and Paytm, have also announced their intent to fund jobs.
The Indian government will also be able to set up its own funds, and the country’s investment banks will be able invest in up to Rs 25,000 crore, which is about Rs 10,000 per startup, IBIS said.
The government is hoping that the funding will help startups scale up and build a strong base in India.
It is also looking to take advantage of the new wave of Indian startups, who have been coming up in recent months.
According to the government, the money will help create 1,600 jobs for young workers, while creating 1,100 jobs for employees in IT.
The government is also planning to build more digital training centres, and to help Indian businesses create more employment opportunities.
While many Indian startups are doing well, others have struggled to find a foothold in the Indian market.
One of these is Snapdeal, which has struggled to gain traction in India in the past few years, and now has just 1,200 employees.
In an interview with CNBC, Snapdeal CEO Vishal Sikka said the government’s investment will help Snapdeal grow even further in India and attract more investors.