For years our country's economy has been damaged by socialist policies. The liberalization of 1991 has sure break much of socialist change and ensured good progress since then but a lot more of these chains is needs to be broken. A more free economy would create a good business environment which would lead to an increasing number of startups. In many developed markets most of the innovation and research is driven by private businesses from small startups to big conglomerates. For example, the most recent reusable launch vehicle was demonstrated by Space X not government owned NASA. In india, this technology has been a focus point of a government owned entity ISRO. In fact most of our research and development in technology until now has been done by government owned entities. Now of course there performance in this arena of research has not been bad at all but it could do better. A greater participation of private players in research and innovation could boost our innovation in technology and unlike government ,private players have an incentive to invest in research and innovation and consistently modify not only there services(or products) but also their business approach. Many of our problems that plague our country could be better solved if private players are include in more numbers.Their newer more innovative approach in solving those problems will eradicate those problems from our country.But for this to happen we need to create a better business environment to encourage more startups, driving more innovation and thus ultimately put the progress of our nation into fifth gear.
With improvement in ease of doing business in recent years, I see a ray of hope.