Startups for Economic Development in India: Challenges and Strategies for Middle-Income Trap

The concept of the middle-income trap (MIT) suggests that economies in range face difficulty progressing to high-income stage over a prolonged period. Escaping MIT has been significant topic, particularly South Asia. key solution this economic challenge lies enhancing ease doing business (EDB), primarily by promoting startups. India witnessed substantial growth startups since 2010. Despite favorable conditions for advancement, remained lower-middle income bracket more than 15 years 2007. Existing research inadequately explored specific obstacles and disadvantages hindering conducting activities, especially startups, India. Employing qualitative analysis, strategic framework outlined address through promotion This integrates domains development facilitated promotion. Sustained support revising policies accelerate startup is instrumental steering away from MIT. Notably, noteworthy transformation society stems consistent efforts encourage overcome Importantly, aspect involves Indian government's focus on investing infrastructure human capital education, serving as foundational prerequisites cultivate environment.