India and business


‘India and business’ will sound far good as a pair than ‘India and entrepreneurship’.Though the entrepreneurship has gained greater significance at global level under changing economic scenario,the conditions in India are not so great.But that doesn’t mean that we have nothing to cheer about.As a matter of fact,India is seen as one of the countries that is par excellent than the rest of the Asian countries,as far as ‘growing ‘entrepreneurship is concerned.Venture Capital in India,until about 3 years ago,was not as strong as a a funding source and financing was entirely debt-oriented. But that is now changing as Both China’s and India’s strong VC industries are expected to continue their rapid growth and development as they capitalize on strong GDP growth, growing domestic consumption and a dynamic entrepreneurial ecosystem.
But being a genuine ‘risk averse country’,almost every aspiring bussinessman in India finds the leap to entrepreneurship,with its difficulties that are ‘not just economic’.Inspite of being the third largest economy in the world,India still hasn’t got a potential launchpad for the word entrepreneurship – which is itself defined as ‘Making money by starting a new bussiness,specially one in which there may be some factor of risk’.Resistance from families to risk is one of the three biggest inhibitors to entrepreneurship in India,the other two being the capital and awareness.
Though the first two of the factors are being constantly checked by the growing Venture Capitalists and the various online competitions being held in the virtual world respectively,the risk factor is what that is making all the difference.India suffer from a dependency syndrome,of working for some one than creating jobs.Even the ‘students in the college are taught to become employees and never employers.’
Fortunately,two factors are trying very hard to improve the present scenario of entrepreneurship in India.One being the ‘uncertainity of employment’ in conventional jobs.And the other positive is the ‘growth in confidence’ of the youth. Looking at the future, the average Indian is expected to be 29 years old in 2020 as compared to 48 in USA, and 37 in China. Therefore , it is no surprise that we see awareness and many a student movement creating forums for entrepreneurship today.
While India would rank righ on the increasing number of entrepreneurs at an individual level, but at an institutional level,it has a long way to go…But since everything depends on a start,one such start is already provided in India. The Kerala government have also introduced recently an entrepreneurship scheme for students at universities and colleges that provides for accessibility to incubation centres and academic incentives to those who approach such centres.We do hope that many such initiatives come an d change the definition of Indian entrepreneurship.
All in all, the global economy in general and Indian economy in particular is poised for accelerated growth driven by entrepreneurship.

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