CURRENT SCENARIO OF ENTREPRENEURSHIP IN INDIA

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CURRENT SCENARIO OF ENTREPRENEURSHIP IN INDIA :

CURRENT SCENARIO OF ENTREPRENEURSHIP IN INDIA

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According to the Global Entrepreneurship Monitor (2007) report, India’s High-Growth Expectation rate is only one-fifth of that of China. while China’s nascent and new entrepreneurs appear to be the most growth-oriented, with more than 10 per cent anticipating high growth. According to the NSS ( National Service Scheme ) 62nd round, in rural India, Almost 50 per cent of all workers are self-employed 57 per cent among males and nearly 62 per cent among females, The NSSO (National Sample Survey Organization ) defines a self-employed person as “one who has worked in household enterprises as own-account worker; worked in household enterprises as an employer or worked in household enterprises as helper”. The essential feature of the self-employed is that they have autonomy (decide how, where and when to produce) and economic independence (in respect of choice of market, scale of operation and finance) for carrying out their operation. According to the 5th Economic Census conducted by the Central Statistical Organization (CSO), there are 41.83 million establishments in the country engaged in different economic activities other than crop production and plantation.

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Five states viz. Tamil Nadu (10.60 per cent), Maharashtra (10.10 per cent),West Bengal (10.05 per cent), Uttar Pradesh (9.61 per cent) and Andhra Pradesh (9.56 per cent) together account for about 50 percent of the total establishments in the country. The same five states also have the combined share of about 50 per cent of total employment. Entrepreneurship has gained greater significance at global level under changing economic scenario. It admits environment of super mall culture we find plenty of scope for entrepreneurship in trading and manufacturing. Then who is an Entrepreneur ?????????????? An entrepreneur is a person who is able to look at the environment, identify opportunities to improve the environmental resources and implement action to maximize those opportunities. it is important that he should have entrepreneurial skills that will be needed to improve the quality of life for individuals, families and communities and to sustain a healthy economy and environment. This is why entrepreneurship is considered to be a prime mover in development of nations.

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Economic structure is very dynamic and extremely competitive due to the rapid creation of new firms and the exit of 'old' stagnant and declining firms. Redefining entrepreneurship Organizations will face seven trends in the next decade as they flight to survive, grow and remain competitive. Speed and uncertainty will prevail. Technology will continue to disrupt and enable. Demographics will dictate much of what happens in business. Loyalty will erode. Work will be done anywhere, anytime. Employment as we know it will disappear. Women Entrepreneur: Women entrepreneurs have been making a significant impact in all segments of the economy in India, Canada, Great Britain, Germany, Australia and the United States. The areas chosen by women are retail trade, restaurants, hotels, education, insurance, and manufacturing. Women takes up business enterprises to Profession as a challenge and an independent occupation. With the spread of education and new approaches/awareness,

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women entrepreneurs are achieving higher level of 3E’s, namely: ( i ) Engineering (ii) Electronics (iii) Energy. Opportunities : Free entry into world trade. Improved risk taking ability. Governments of nations withdrawn some restrictions Technology and inventions spread into the world. Encouragement to innovations and inventions. Promotion of healthy completions among nations Consideration increase in government assistance for international trade. Establishment of other national and international institutes to support business among nations of the world. Benefits of specialization. Social and cultural development.

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Challenges: Problems of raising capital Difficulty in borrowing fund. Thought-cut completions endangered existence of small companies. Problems of availing raw-materials. Problems of obsolescence of indigenous technology Increased pollutions Ecological imbalanced. Problems of TRIPS (Trade-Related Aspects of Intellectual Property Rights) and TRIMS (Trade-related Investment Measures). Exploitation of small and poor countries, etc. Suggestions: Govt. should provide separate financial fund of women’s entrepreneur. Govt.should provide her special infrastructure facilities what ever she Needs. Govt. should arrange special training programs of women entrepreneurship Govt. should felicitated top ranker women’s entrepreneur. Women entrepreneur should more competitive and efficient in the local & international market. Govt. should invite successful women entrepreneurs from foreign countries.

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Out of total 123.98 million people in India, in the 2002s, females comprise 437.10 million representing 46.5 percent of the total population. There are 126.48 million women workforce but as per the 1991 census, only 1, 85,900 women accounting for only 4.5 per cent of the total self-employed persons in the country were recorded. As per a rough estimate the number of SSIs are expected to be2.5 billion having 9% women entrepreneurs in to it. Considering this trend, women participation in another five years was 20 % more, raising the number of women entrepreneurs to about 5,00,000. Combined effect of motivational drive, preparation of information material, conducting training, creation of women industrial estates, and training of promoters and use of mass media all together is bound to accelerate the process of women entrepreneurship development. psycho-social factors: which is stopping growth of women entrepreneurs Poor self-image of women Inadequate motivation Discriminating treatment Faulty socialization

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Role conflict Cultural values Lack of courage and self-confidence Inadequate encouragement Lack of social acceptance Unjust social, economic and cultural system Lack of freedom of expression Afraid of failures and criticism Susceptible to negative attitude Low dignity of labour. Rural Entrepreneur : Rural Entrepreneur Succeeding as an entrepreneur and an innovator in today’s world. Indian rural economy is also experiencing behavior of entrepreneurial. Aim of most farmers is to earn profits from farming as from any other business, There for entrepreneurship is not simply adoption of new activity but it is transformation of a person from traditional of modern.

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Opportunities For Rural Entrepreneurs: Crashed Scheme for Rural Development Food for Work Programs National Rural Employment Programs Regional Rural Development Centers Entrepreneurship Development institute of India Bank of Technology Rural Innovation Funding Social Rural Entrepreneurship. Challenges For Rural Entrepreneurs: Growth of Mall Culture Poor Assistance Power Failure Lack of Technical know how Capacity Utilization Infrastructure Sickness

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Present Entrepreneurial Scenario : There are ample opportunities in small businesses are there in India such opportunities will transform India in the coming future. For such transformation to happen there needs to be supporting both at the governmental and societal level. The scope of entrepreneurship development in our country is tremendous. since there is widespread concern that the acceleration in GDP growth in the post reforms period. Results of the 57th round of the National Sample Survey Organization (NSSO) show that unemployment figures in 2003-04 were as high as 8.9 million. Incidentally, one million more Indian joined the rank of the unemployed between 2005-06 & 2007-08. The rising unemployment rate (9.2% 2008 est.) in India has resulted in growing frustration among the youth. In addition there is always problem of underemployment. As a result, increasing the entrepreneurial activities in the country is the only solution left with govt. The reports prepared by Planning Commission to generate employment opportunities for 10 crore people over the next ten years have strongly recommended self-employment as a way-out for teaming unemployed youth.

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Supporting Organizations: The Government has setup various organizations which specialize in industry promotion & entrepreneurship development in different sectors. The organizations provide policy framework support, in addition to training & financial aid. Khadi & Village Industries Commission COIR Board Small Industries Development Bank of India National Manufacturing Competitiveness Council National Skill Development Corporation State Level Initiatives: Individual states across India have setup specially focused organizations which work towards the development & support of small scale industries. These organizations run specific promotional schemes in addition to providing financial support to industries. List of State Financial Corporations (SFCs) List of State Industrial Development Corporations (SIDCs)

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Development Support Organizations: Government of India has also set up various organizations that are at the forefront in providing support and training for the budding entrepreneurs. Few of them are: Central Footwear Training Institute - Agra Indo-German Tool Room - Ahmedabad Indo-German Tool Room -Aurangabad Central Institute of Tool Design - Hyderabad Central Tool Room - Ludhiana Indo-German Tool Room - Indore Central Tool Room & Training Center - Bubhaneshwar Circle Telecom Training Center - Kolkata Indo-Danish Tool Room - Jamshedpur Institute for Design of Electrical Measuring Instruments Electronics Service & Training Center - Ramnagar Fragrance & Flavour Development Center - Kannuaj

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Industry Associations: There are a variety of associations which help & encourage the cause of industry. These associations provide support & strength to the entrepreneurs & the organizations they setup. Additionally, industry association networks are crucial in steering government policy & action as well. Complete list of Industry Associations National Bank for Agriculture & Rural Development (NABARD) Laghu Udyog Bharati (LUB) Federation of Indian Chambers of Commerce and Industry (FICCI) Confederation of Indian Industry (CII) The Associated Chambers of Commerce and Industry of India (ASSOCHAM) Federation of Indian Micro and Small & Medium Enterprises (FISME) World Association for Small and Medium Enterprises (WASME) India Trade Promotion Organisation (ITPO) Technology Innovation Management and Entrepreneurship Information Service Asian and Pacific Centre for Transfer of Technology (APCTT)

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International Organizations: Akin to national industry and sector based networks, an even higher responsibility lies with global associations which chart out the developmental role to be played by various international governments while forming their trade & industry policies. International Network for SMEs WIPO Small and Medium-Sized Enterprises United Nations Industrial Development Organization World Trade Organisation European Commission - Enterprise & Industry Innovation - SMEs Canadian International Development Agency Small and Medium-sized Enterprise Center, Canada SME Centre, Hongkong Small and Medium Enterprises in Ireland SME Information of Japan

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World Trade Centre, Mumbai Small and Medium Enterprise Development Authority, Pakistan Swedish International Development Agency Department for International Development, UK Ministry of Economy, Mexico Small and Medium Enterprises Development, Washington, USA . CONCLUSIONS : Entrepreneurship development is the key factor to fight against unemployment, poverty and to prepare ourselves for globalization in order to achieve overall Indian economic-progress.