Why is this in the news?
At the 17th Asia Media Summit, the Union Information and Broadcasting Minister praised the Indian media for its involvement during the Covid-19 pandemic.
What role did the media play during Covid-19?
What is the Media’s Role as the Fourth Pillar of Democracy?
Government policy dissemination: The media is important for propagating and disseminating various government policies and initiatives. The media played a crucial part in raising awareness of Swachh Bharat and Beti Bachao Beti Padhao, among other initiatives.
The media, as a fourth pillar, is critical to reaching the genuine meaning of democracy.
What exactly is the Asia Media Summit?
What exactly is AIBD?
What exactly is a unicorn?
After the United States and China, India now possesses the world’s third largest start-up ecosystem.
In 2021, 44 Indian start-ups acquired unicorn status, bringing the total number of unicorns to 83, the majority of which are in the services sector.
India has seen such quick rise in unicorns for a variety of strategic and conditional reasons.
The pandemic has increased consumer adoption of digital services, assisting start-ups and new-age ventures in building customer-focused tech firms.
Online Services and Work from Home Culture: Many Indians have gravitated to online services, experimenting with anything from meal delivery and Edu-tech to e-grocery.
Work-from-home culture aided start-ups in increasing their user base, accelerating business expansion goals, and recruiting investors.
Another factor that assisted the unicorn was the growth of digital payments.
Buyouts from Major Public Corporations: Many businesses become unicorns as a result of buyouts from major public corporations who choose to build their business through acquisitions rather than internal growth.
Increasing Investments Do Not Ensure Startup Success: Money is no longer difficult to obtain during the Covid-19 crisis, when central banks have released a global surplus of liquidity.
Overseas investors in India’s startup sector include Japan’s SoftBank, China’s Alibaba, and the United States’ Sequoia Capital.
This is because India lacks a serious venture capital business with a risk appetite.
The country’s established corporations have largely remained in traditional sectors.
The rapid development of the start-up ecosystem necessitates significant finance, making the role of venture capital and angel investors vital.
Apart from legislative policies that encourage entrepreneurship, it is also the responsibility of India’s corporate sector to stimulate entrepreneurship and establish synergies in order to build effective technology solutions and sustainable and resource-efficient growth.
With recent events in China causing capital mistrust, the world’s focus is shifting to India’s enormous tech opportunities and the wealth that can be created. In addition to the Digital India Initiative, India requires clear policy actions.