Describe the current scenario of Entrepreneurship activity in India. (Give your answer
in 250 words)
Answers
Answer:
Taking things back to the 70s and 80s, people (except a few) would look for Government jobs as they were considered the most stable and comfortable option by people back then. Government jobs offered facilities and special services that private jobs did not offer. People back then did not think of taking risks but settling early. Parents wanted their sons and daughters to seek Government jobs rather than taking risks and starting on their own. It was also because people did not have the resources or the guidance to think or do something different. There were no VCs or Investors who could put time and resources to work. People sought the easiest ways of settling down but did not think differently. And culture wise it was not deemed fit. People would you crazy or a nut job if you think of doing something different. Although today the paradigm has take a turn for the better. People are aspiring to start their own venture rather than going for employment options. In today’s date the word “crazy” is taken as a compliment by Entrepreneurs. The history of our Country which set Government jobs as the most sought after example for careers, has itself become an example of how thinking different or leading one’s own path has the power to reshape the World as we know it. . India has become the World’s youngest nation with 72% founders less than 35 years of age.If the guy who owned a cycle repair shop would not have thought differently, we wouldn’t have Kirloskar “enriching lives” today. Or if the gas station attendant would have become comfortable with his job, Reliance group of Industries wouldn’t have made its mark in the world. Coming to the 21st century India today, is currently experiencing a humongous wave of Entrepreneurship. Energetic youngsters are coming up with unique start-ups each different from the other. Some aim at providing services, others providing products while many of them providing both, a product and service. Not only youngsters but folks who once were employees are now entering the start-up arena. Today, India is the 3rd largest country of start-ups. There has been 100% growth in the number of private equity investments, venture capitalists, angel investors along with a 125% growth in the funding of start-ups over the last year. I do not need to explain any further that the Indian start-up ecosystem has risen to the next level. The total funding in the India based start-ups is estimated at $5bn by the beginning of 2016. India truly has become a “start-up nation”. Since 2010, the Indian technology start-ups landscape has seen tremendous growth towards creation of innovative start-ups, whose number has grown by 40% within one year.
The Current scenario (due to the ongoing pandemic) may not look promising but in long term to cater growing Unemployment, we need more and more entrepreneurs. The Women entrepreneurs numbers are also less in numbers. There are many upcoming sectors that will give good opportunities to budding entrepreneurs. Also with many angel Investors, Venture capital firms and Private Equity firms coming up, the situation looks bright.
PLEASE MARK IT BRAINLIEST