Entrepreneurship: The new game plan for a better India

The idea of doing a story on young entrepreneurs and how the employment as well as educational scenario of our nation is changing came across my mind after I became a witness to the success of two of my friends as entrepreneurs.

Education in our country has been one of the most pertinent issues that are being discussed widely across tables, over coffee and on various other occasions. In my opinion with changing scenario of not just our nation’s economy but the world economy at large, education and entrepreneurship are two things that when combined together can work wonders. Today our nation is home to one of the largest workforce which includes professionals from all fields. The human capital of our country is humungous and I feel it is time that this capital is used in a way that it not only benefits the citizens of the country but also helps in strengthening the economy of the country.

When we talk about entrepreneurship, especially in context of our country India, there is reasonable amount of evidence which reflects how young entrepreneurs have helped the nation climb up the stair of economic development quickly. During the year 1991 India witnessed a steep rise in its GDP (Gross Domestic Product) and per capita income due to liberalisation. The country also witnessed a rise in the entrepreneurial activities that were taking place during that time.

In this era, apart from huge brands like Snapdeal and Flipkart, young entrepreneurs have also been able to perform equally well. A common trend which has been noticed in this field is that a majority of people who have taken up their own business or created companies are those young lads who have come out of their corporate shells to achieve something better than a hefty salary package.

Talking about start ups, Eccentric Travels and What’s Up city magazine are two companies that have made phenomenal growth since their inception. While What’s Up city magazine is already producing interesting and engaging content for its readers, the launch of Eccentric Travels is due this winter. The social media pages of both the companies are buzzing with followers and comments from enthusiastic travelers and readers.

Apart from reading about the success of young and dynamic entrepreneurs, there was a fact stated in the World Bank report that was published in the year 2005-2006, that came across as a shock for me. The report stated that entrepreneurs residing in south Asia face a lot of regulatory obstacles while doing business. Also there was another statement that almost zapped me out of my wits, out of a whopping workforce of 458 million people only 8 million had formal jobs in the private sector. We as Indians are well aware of the fact that our country is home to now more than one billion people. I am sure that with the span of time the above mentioned facts and figures would have changed but till date we do face the issue of unemployment in our country.

The point that I wish to emphasize over here is that education and entrepreneurship need to be closely linked so that we can build a society for the future. With our ever increasing numbers, the government of our country should realise that entrepreneurship will act as an impetus to economic development, employment generation and various other things. We need to have an educational policy that emphasizes on the imparting education that would help the youth of the country in identification of their strengths and resources. This in turn would encourage the youth of the nation to think out of the box and use their resources to hone their entrepreneurial skills and pave a path to a better and secure future.

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