Think and dive in. It’s the right time.

Hey entrepreneur! Take the plunge now!

Perspective

Meghna Maiti

It is indeed a great moment in a nation’s history when it leapfrogs into a historical rank after a period of wobbling and dilly-dallying. No wonder then that the news of India jumping 30 places to come in at rank 100 on World Bank’s survey of Ease of Doing Business comes as a pleasant shocker. Much has been discussed about the incentives and challenges that come with this move. While this could certainly perk up the business scenario, challenges remain in the form of a stubborn financial system, slow bureaucracy. GST and demonetisation has slowed down things. Yet despite everything what is the best lesson we could learn from a move like this? Especially at a time when the country is opening up to new level of changes, welcoming startup businesses, ushering in innovative thinking, what’s the best learning? Perhaps, it’s about embracing a risk-prone mind-set. The current development could motivate a swarming number of youth to forget about safety nets and take calculated risks within their professional lives.

The change in ranking reflects a time when economic corridors are open to investors from within the country and outside. It signifies a time when economic machinery would be well oiled to set it rolling. This is a time when more and more young people could quit their boring jobs and experiment with ideas. They could also come forward and discuss their ideas on platforms such as TED, INK. Economic reform in any country always brings about social reforms. The current developments could eventually change the professional climate from that of service-oriented to entrepreneur-oriented. Amidst numerous reports on job losses and dicey business scenario, startup founders remain sceptical about the growth story and investment scenario. Even then, the current ranking news would surely motivate them to invest into newer avenues and take greater risks. If we only keep up the momentum and confidence, we would see a better ranking, going ahead.

With India qualifying in the top 100 in the World Bank's Ease of Doing Business, do you think there are brighter days ahead?

Do let us know.