Entrepreneurship in India

Entrepreneur is a loaned word which is derived from the French language. It means a person who operates and undertakes a new business enterprise by putting its capital into in it and presumes responsibility, accountability for the inbuilt risks. An entrepreneur puts up its company which is crafted to develop an opportunity and designed in a responsive way to compete in the market with its competitors. With good amount of profit, an entrepreneur can expand its business to any extent depending upon the amount of profit earned and the aspirations of the entrepreneur. A person can build new companies or set up its business in an existing company which is known as corporate entrepreneurship.

Opportunity and risk taking are the two things which go along with the frugality. A smart entrepreneur always squeeze money out of limited amount of cash and always influence the money of others by inviting those bodies to invest their money into the business, in return they  get shares and debenture of the company. An entrepreneur always tries new ideas to explore any area of business. Sometimes an entrepreneur is faced with hard luck but not always. By trying new and innovative ideas, an entrepreneur can make its business successful and run for a long period.

In the year 2002, India ranked second in terms of total entrepreneurial activity in the Global Entrepreneur monitor report and the total Indian entrepreneur activity average is (approax) 12.1%. In India, people have a lot of entrepreneurial quality and capacity but the Indian government and society does not take initiative in encouraging entrepreneurship in India. Most of the people often seek long-term and secure employment in government sectors. Other factors which prevent flourishing of entrepreneurship in India are unavailability of appropriate capital, social attitudes and problems, inadequate government support and inadequate physical infrastructures. India has the 3rd highest GDP in the Asian subcontinent and it is the 5th biggest economy in the world.

The government of India has taken a lot of steps to encourage entrepreneurship and entrepreneurs by providing facilities for their progress, training and success especially in the rural areas. In a diverse and large country like India, one of the best ways of improvement is grass root innovation .This type of innovation consist of inventions and discoveries for an environment that is typically Indian. India has a lot of entrepreneurial potential because of the huge middle class that it encompasses which is a gold mine for entrepreneurs as they can make a lot of profit by catering to the needs of the great Indian middle class which consists of around 250 million people.