Importance and role of enterorenurship in indian economy
Answers
Entrepreneurship is our most important driver, kicking off a virtuous cycle driving the Indian economy.
Entrepreneurship drives business creation: People who are entrepreneurs are constantly innovating, finding new market opportunities and products that can serve them. Anyone who is creating a new business is attempting to do something innovative, pushing both technical and human capabilities.
Businesses creation drives value addition: Businesses create products and services that add a lot of economic value. They solve problems for businesses or consumers, and the activities they engage in add value. This value is captured in the GDP and is reflected in the market value - for e.g. venture capital backed companies account for 4.3 trillion of US market cap.