Munich Personal RePEc Archive

India’s entrepreneurship policy: Future tasks and vision

Koshy, Perumal (2019): India’s entrepreneurship policy: Future tasks and vision. Published in: ERENET Profile No. 50 (16 December 2019): pp. 48-56.

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Abstract

Entrepreneurs and free enterprises are crucial for economic independence. Mahatma Gandhi gave priority to revitalizing entrepreneurship from the grassroots so that there would be a strong community of entrepreneurs to rebuild India.

However, after independence, Indian economy emerged as a mixed economic system, with a plethora of regulations, inspectors, rules primarily targeting the businesses and entrepreneurs. Even the reforms heralded in 1991 could not completely demolish regulatory overburden that strangles entrepreneurs.

Indian entrepreneurship policy framework and startup ecosystem has evolved over the years as one with potential to facilitate new venture creation at ease. The current ecosystem and reformed regulatory framework is much more entrepreneur and small business friendly. However, much needs to happen at the ground level. This article looks at how entrepreneurial ecosystem evolved and emerged in India. How was it envisioned and how it shaped up during the decades under various Indian governments? And it concludes with a note on future task and scope.

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