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Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
5. An ‘Unicorn revolution’ is being witnessed as India is fast emerging as a hotbed for investments into startups. However, there needs to be right regulatory direction and policy support to ensure they realise their potential amidst the hype. Examine. (250 words)
Difficulty level: Moderate
Reference: The Hindu
Why the question:
A joint report by Nasscom and Zinnov also forecasts that India is on track to have a 50-plus strong unicorn club in 2021 and a 100 unicorn club by 2025.
Key Demand of the question:
To write about potential benefits proper regulation and policy support of Unicorns to the Indian economy,
Directive word:
Examine – When asked to ‘Examine’, we must investigate the topic (content words) in detail, inspect it, investigate it and establish the key facts and issues related to the topic in question. While doing so we should explain why these facts and issues are important and their implications.
Structure of the answer:
Introduction:
Begin by defining a Unicorn and give context about the rapid rise of unicorns in India in 2021.
Body:
First, in brief, give reasons for the unicorn boom in India.
Next, write about the need for proper regulatory mechanism – mention the issues these unicorns face, policy based, scrutiny based, compliance based etc.
Next, write about facilitating policy support for start-ups to turn Unicorns and sustain that position. Also, add the need to avoid hype and ensure that the potential is realised with respect to job creation, growth, technological advancement, valuation etc.
Conclusion:
Conclude with a way forward.
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