ENTREPRENEURSHIP AND ECONOMIC DEVELOPMENT IN

INDIA

contents

• Introduction• Meaning of entrepreneurship

INTRODUCTION INDIA is a young Nation of 60years of Independence setting out on a path of sustained economic growth

Current years the ongoing interest in entrepreneurship has increased

For growth of new businesses as well as economic development

MEANING OF ENTREPRENEURSHIP

• Entrepreneurship is a process undertaken by an entrepreneur to establish and to develop a new enterprise.

• It is a process of converting the idea of establishing an enterprise into its implementation.

FOR RAPID ECONOMIC DEVELOPMENT• Entrepreneurs and

entrepreneurship are base for economic development.

• Entrepreneurship Development Programme (EDP) makes entrepreneurs for creation of entrepreneurship environment.

• In India, in every five year plan more and more amount is allotted for entrepreneurship development.

CREATION OF SUITABLE INDUSTRIAL ENVIRONMENT FOR RAPID ECONOMIC DEVELOPMENT.

For creation of industrial and entrepreneurship environment, various institutions – CED, EDI, IDBI, Exim bank, IFCI, State Finance Corporation, DIC etc have given their active contribution.

NEW SOURCES OF INCOME FOR GOVT

• govt. gets income of various taxes by medium of venture of new entrepreneurs.

• Some export oriented industrial units help govt. in earning foreign exchange.

Conclusions• Entrepreneurship is a challenging and rewarding

profession.• Entrepreneurship is required for the growth of

NATIONAL ECONOMY.

ENTREPRENEURSHIP & ECONOMIC DEVELOPMENT

DEVELOPMENT OF ECONOMY

LEVE

L O

F EN

TREP

REN

EURS

HIP

AGRARIAN INDUSTRIALIZATION SERVICE & HI TECH

SMALL BUSINESSFORMATION

LATE IMITATION

EARLY IMITATION

EARLYIMITATIONAND INNOVATION

Scope of entrepreneurship development in India