Startups, not the only game in town India’s job creation challenge demands a broader view of entrepreneurship beyond the narrow focus on tech startups. With 1.2 billion young people set to enter the global workforce between 2025 and 2035, current projections show only about 400 million jobs will be created in that period. To sustain India’s projected 7.5% growth and translate it into meaningful employment, the nation must support entrepreneurship across key sectors that generate large-scale employment. The World Bank has identified infrastructure and construction, healthcare, food and agriculture, tourism, and manufacturing as sectors with the capacity to create widespread jobs. Building strong domestic companies serving local demand in these areas is crucial for sustained economic development. This requires patient development and policy support for traditional businesses, not just venture capital-backed tech ventures. While world-class tech companies remain vital, an overemphasis on export-oriented tech firms, businesses benefiting from government spending, and those based on labor arbitrage creates a narrow lens. Globally, only about 21% of new firms are in tech, and an even smaller fraction receive venture capital funding. The larger and more immediate demand lies in nurturing entrepreneurship across core sectors that will underpin broad-based economic growth. Established and new companies alike must be supported to build domestic champions in competitive home markets. This approach addresses the urgent need for job creation while fostering resilient, locally rooted enterprises capable of driving long-term prosperity. Policymakers and investors should redirect attention and resources toward these foundational sectors to ensure inclusive and sustainable development.
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