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Entrepreneurship
Development in India
Understanding the concepts and processes of entrepreneurship in a new world order defined by technology and innovation, is of vital importance for any nation which wishes to become a global business leader. Entrepreneurship has not become a major developmental exercise in India, a developing economy, despite the important role played by it in the overt throw of feudal economies and rise of capitalism in the world around it. Since India is still a developing nation and is aspiring to assume a bigger role in world economy, it must take initiatives to encourage entrepreneurship. Professor Noboru Tabe, one of the authors, is equipped to narrate the experiences of Indian entrepreneurship due to his experience as Professor Emeritus of Development Studies, with the University of Tokyo and a visiting professor at Madras Christian College, Chennai, earlier. The book is an intellectual odyssey, inspired by the entrepreneurial potential of India. The authors feel that conceptualisation of entrepreneurship performance of Indians in India, Infosys, TCS, Tatas, Reliance, Bajaj and others indicate that India gives an advantage to locals and shuns foreigners where as countries like China prefers multinationals over indigenous private companies. The demand for entrepreneurship is limited in India because of a number of reasons. The traits of an entrepreneur are well known and every successful entrepreneur emphasises qualities as vision, knowledge and specific skills, perseverance, capacity to take risk and so on. Unfortunately, these traits are rare. But one must understand that such qualities can be developed with sustained effort. In times to come functional leaders are bound to be replaced by entrepreneurs. Entrepreneurs all over the world respond only to incentives from their governments in pursuit of self-survival and accumulation of their personal wealth. However, the nature of response from the governments depends upon the economic, social and political climates of the country. India should try and provide important framework conditions like availability of finances, supportive government policies and opportunities for research, education and training and development. It has been well acknowledged that nations cannot achieve their development goals without establishing competitive advantage in entrepreneurship so that effective entrepreneurial systems can be developed. Since Indian entrepreneurs have to compete globally, we have no choice but to encourage high-tech innovations and organise the labour towards increasing productivity. This demands developing entrepreneurial research which is supported by suitable education and industry collaboration. At the micro level, entrepreneurship education and training course should be started in early years to mobilise the entrepreneurial potential of young students. The authors rightly feel that India's unemployment problem, which is causing many other related problems, can be successfully handled only if the policy makers understand the reason behind it and use the option of entrepreneurship to solve the problem. The special book is an excellent repository of research work and practical applications for entrepreneurship in developing economies like India.
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IT
is well recognised
that world's future is irrefutably tied to that of India because of
its 1.25 billion population which has the potential to shape the world
in many different ways. Economists have established that any
deficiency in material resources can be more than made up by quality
human resources. Governments use different patterns for good
governance and encouraging entrepreneurship is a key strategy adopted
by developing nations.