Empowering India's Future: How Startups are Driving Job Creation and Economic Growth

Independance Day

Muskaan Kapoor

Aug 13, 2024 — 7 min read

Independence Day Special: How Startups are Driving Job Creation and Economic Growth

Startups aren’t just about innovation—they’re also making a big difference in job creation across India. As we celebrate the 78th Independence Day in 2024 with the theme “Viksit Bharat,” it’s a great time to see how these businesses are helping to build a stronger economy by providing new jobs.

With India aiming to become a developed nation by 2047, creating jobs is really important. Startups are playing a big part in this by hiring people and supporting local communities. At StartupTalky, we’ve connected with some amazing founders to learn more about how their companies are helping with job creation. We asked them how they’ve made a difference and what role they think startups play in the bigger picture of economic growth.

Now, let's explore their insights and see how their companies are making a real impact. Their experiences will give us an understanding of how we’re all working towards a brighter future for India.

Empowering Communities Through Craft: SVATANYA's Impact

Nimish Pant, Founder Director of SVATANYA, elaborates on his organisation’s impact: "SVATANYA (‘Independence’ in Sanskrit) is a Conscious platform focused on using Craft to empower underprivileged communities. So not only do we provide upskilling to underprivileged women but also livelihood opportunities through handicrafts in a sustainable way thereby benefitting both the Community and the Environment.”

What started with just 2 women in 2013, the team has grown to become a dependable and committed workforce from an unorganized sector:

Over 1100 women have been trained in stitching, sewing, and machine use, while those with computer skills have been employed to manage administrative tasks, resulting in 100-300% income increases for hundreds of women.
Their commitment to minimizing waste and environmental impact is evident as 85-90% of their raw material come from stock and 100% of their products are handmade.
They also train women to make soft toys, which are gifted to children in hospitals, spreading joy while providing income.

Support from in-laws and husbands, as well as support for children’s education, serves as testimonials to SVATANYA’s belief that they are on the right path toward making a meaningful difference in the lives of marginalized individuals.

Enhancing Worker Benefits and Job Stability: Entitled Solutions

Similarly, Anshul Khurana, Co-founder and CEO of Entitled Solutions, describes his company’s role in job creation, “At Entitled Solutions, our mission is to empower low-income workers by providing essential financial and health benefits through their employers. This not only helps in retaining and engaging gig and contractual staff but also fosters job creation and stability in the workforce.”

Khurana highlights several ways in which Entitled Solutions contributes to job creation:

Facilitating Retention and Reducing Turnover: By offering comprehensive benefits packages, they help employers retain low-income workers more effectively. This stability encourages companies to hire more staff, knowing they can maintain a loyal and committed workforce.
Empowering Small and Medium Enterprises (SMEs): Their solutions are particularly beneficial for SMEs, which form the backbone of the Indian economy. By providing these businesses with the tools to offer competitive benefits, they help them attract and retain talent, thereby creating new employment opportunities.
Creating a Healthier Workforce: Access to health benefits ensures that workers are healthier and more productive. This not only improves their quality of life but also reduces absenteeism and turnover, leading to a more stable and expanded workforce.
Promoting Financial Inclusion: By providing financial benefits like savings plans, insurance, and emergency loans, they empower workers to achieve financial stability. This financial security encourages more individuals to enter the workforce, knowing they have a safety net in place.
Community Development Initiatives: Their community-focused programs, such as financial literacy workshops and health camps, directly benefit the local population. These initiatives not only improve the well-being of workers but also create awareness and opportunities for employment within the community.

Creating New Roles and Opportunities: Alyve Health's Approach

Shifting focus to health and wellness, Shashank Avadhani, Co-Founder and CEO of Alyve Health, discuss their job creation efforts: “Alyve Health created employment opportunities in two ways, where we created new profiles to build differentiated roles that could add value to our members' experience.”

Alyve Health’s approach includes:

Direct Employment: Since Alyve Health is creating a new category of health plans, it is also generating new job opportunities in the market. For instance, the company is hiring in-house habit coaches, fitness, and wellness experts who guide people toward a better quality of life. Additionally, there are care guides who assist members in navigating their health journeys and much more.
Indirect Employment: Given its business model, Alyve Health deals with multiple partners. The company encourages customers to choose preventive checks, consult doctors, and take prescribed diagnostic tests, which in turn increases transactions for its network partners, lab partners, and fitness or wellness communities. By working with various SMEs, Alyve Health contributes to generating numerous employment opportunities for them as well.

Transforming Waste Recovery and Community Empowerment: ReCircle

Similarly, Gurashish Singh Sahni, COO & Co-Founder of ReCircle, describes their efforts to empower communities: “ReCircle empowers communities by transforming waste recovery into a force for positive change. We have impacted the lives of over 3100 informal waste workers (Safai Saathis) and continue making an impact on the unsung heroes of India's waste management sector.”

ReCircle’s initiatives include:

Livelihood Generation and SOP Development: ReCircle addresses key areas such as livelihood generation, the development and formalisation of Standard Operating Procedures (SOPs), and capacity enhancement. Additionally, they are focused on partnership building and integration of waste workers into the formal supply chain. Over the years, ReCircle’s initiatives have led to improved income levels for Safai Saathis, with 59% reporting increased savings according to a recent survey following ReCircle’s SOPs.
Inclusion, Equity, and Diversity: ReCircle’s social impact on the community includes inclusion, equity, and diversity programs, ensuring that gender inclusion is improved through focused recruitment and outreach, as well as setting targets for female participation.
Community Training and Development: Through consistent, targeted training for the personal development of all stakeholders—including Safai Saathis, collection partners, and processing partners—ReCircle has improved the community's perception of all its partner categories.

Bridging the Informal Workforce with Employers: Gigin Technologies

Adding to this narrative, Surinder Bhagat, Founder and CEO of Gigin Technologies, explains how their platform addresses job creation, “Gigin has significantly contributed to job creation in India by connecting the informal workforce with employers through our innovative platform. Since our inception, we have facilitated over 200,000 job connections across various sectors, including hospitality, retail, logistics, ITES, and healthcare.”

Gigin’s platform is contributing to job creation in the following ways:

Connecting Informal Workers: Gigin has significantly contributed to job creation in India by connecting the informal workforce with employers through its innovative platform. Since its inception, the platform has facilitated over 200,000 job connections across various sectors, including hospitality, retail, logistics, ITES, and healthcare. For example, Gigin has worked with healthcare companies to recruit ambulance drivers and paramedic staff, with baristas to recruit servers and café managers, and with IFM companies to verify housekeeping and security staff, thereby addressing urgent needs and providing livelihoods.
Empowering Marginalized Groups: The platform also empowers women and marginalized groups by offering flexible work opportunities, promoting inclusivity, and building a more resilient workforce. By addressing the challenges of trust and safety in the informal job market, Gigin has not only created jobs but also driven socio-economic growth in the communities it serves.

Driving Talent Growth and Inclusion: AdAstra Consultants

Lastly, Nirupama VG, Founder of AdAstra Consultants, shares how her firm contributes to job creation: “Ad Astra has been instrumental in providing both permanent and temporary jobs, thereby improving job creation in India. Our RPO services have helped startups scale their operations rapidly, necessitating increased headcount.”

Nirupama details:

Permanent and Temporary Job Creation: Ad Astra has been instrumental in providing both permanent and temporary jobs, thereby improving job creation in India. By connecting top talent with leading organizations, the firm has facilitated the growth of numerous businesses. For instance, its RPO services have helped startups scale their operations rapidly, necessitating an increase in headcount.
Executive Search and Leadership Roles: Additionally, Ad Astra’s Executive Search practice has placed key leadership roles, enabling companies to expand their teams and market presence. This has not only created direct employment opportunities but also spurred indirect job creation within the supporting ecosystem.
Diversity and Inclusion: The firm’s focus on diversity and inclusion ensures that it taps into a wide talent pool, providing opportunities to underrepresented groups and contributing to overall community development.

There is no doubt that startups are transforming India’s job market and economy with their innovative approaches. They’re playing an essential role in shaping a brighter future for the country. As we celebrate this Independence Day, let’s recognise their significant impact on driving progress and growth for the country.