Talking to government for policy to raise number of start ups to 1 lakh in 10 years, says Mohandas Pai

India has 16,000 start ups out of which 3,500-4,000 start ups are created every year, he said

The start up environment in the country is expected to see a growth to 100,000 start up firms employing three million people and creating a value of $500 billion in next 10 years and a recommendation to implement a nine-point policy to promote the start up growth has been made to the government in this regard, said T V Mohandas Pai, chairman, Manipal Global Education Services and chairman of Aarin Capital Partners.

Delivering his speech as the chief guest of 179th Annual General Meeting of Madras Chamber of Commerce and Industry (MCCI), he said, "In the next 10 years, we are going to have this start up revolution and that is going to change the country. India has 16,000 start ups, 3,500-4,000 start ups happen every year. This, we believe in 10 years is going to go up to 100,000."

"We are talking to the government and telling that we want a nine-point policy to increase start ups to 1,00,000, create $500 billion value in 10 years and 3 million young people to be employed. If 1,00,000 new firms come up, may be 5,00,000 entrepreneurs come up it is going to change," he added.

"Business to Customer (B to C) is going to create new ways of reaching customers and cutting cost. Costs are going to come down, middlemen are going to be eliminated and price discovery is going to be much easier. The whole of India is going to be part of this entire revolution happening," he said.

He added that in 1998, the National Democratic Alliance (NDA) wrote a 108 point programme for IT, which lead to the creation of a $160 billion industry, 3.5 million people employed and $100 billion of software, and 60 per cent of the world's outsourcing come to India.