No growth at all costs

Start-ups are a growth engine for the  slowdown-hit Indian economy, at least two industry reports have reiterated recently. Consider the “Indian Tech Start-up Ecosystem”, the latest report from the National Association of Software and Services Companies (Nasscom). It is heartening to know that India has the potential to create more than 100 unicorns (a start-up parlance to describe companies with a valuation of $1 billion and above) in the next five years. According to the report, the country will have 95-105 unicorns, enjoying a cumulative valuation of $350-390 billion. At present, India has around 24 unicorns. While seven were added this year itself till September, another two to three could be added by the end of 2019. India is third