- Entrepreneurship development is the means of enhancing the knowledge and skill of entrepreneurs through several classroom coaching and programs, and training.
- The main point of the development process is to strengthen and increase the number of entrepreneurs
Importance of entrepreneurship for India are:
- Will help to generate the necessary numbers of jobs and help to avoid any social unrest.
- Helps in exploiting the benefits of this stage of demographic dividend.
- Will give a boost to regional development and inclusive growth
- Will help to satisfy technology appetite of our economy
The strategies should be adopted are:
- Better guidance and mentorship from young age to generate confidence and curiosity in students
- Overhaul in current education system to make it more contemporary and up to standards of quality
- Necessary infrastructure development should be the priority of government. Because it is a prerequisite for any promising start up
- Hand holding by government to enable new start-ups to survive among big sharks of market is also necessary
- Faster and cheaper credit availability is also necessary
- Active engagement of the state government with the entrepreneurs to give them a vision and holistic picture of development is also necessary
- The central government has adopted several policies like SETU, MUDRA, START UP INDIA, MENTORSHIP INDIA PROGRAMME, ATAL INCUBATION CENTRES etc.
- These steps along with quality education if implemented properly can transform Indian economy in one generation.