Being merely over 65 years of an independent country, it won’t be entirely wrong to say that India is a young nation. With the drastic changes in the economy, the budding generation of the country has a lot of opportunity to not only establish themselves but also contribute for a holistic development socially. In the last few decades the scenario of the job market has undergone a lot of changes with the major factors being the rising population and dearth of skilled resources.
Today, the companies are looking for professionals who are skilled and are capable of delivering results. However, the present economic situation has a lot of opportunities to offer for those who want to opt for independent business.
With the rapid economic reform in the country, India has become a hub for start-up companies and new ventures.
As per survey, the growth in GDP in the last few years has not shown any expansion in terms of employment. According to the data of the 57th survey carried out by the National Sample Survey Organization (NSSO), 8.9 million people were unemployed in 2003-04 and the number to an additional one million between 2005-06 and 2007-08.
The alarming factor of the situation is the fact that the number represents the educated section of the society. It is however quite interesting to note that the reports that have been prepared by the Planning Commission has strongly made recommendation for self-employment.
Entrepreneurship is a responsibility in which an individual or a group of people take mature decision of making optimum utilization of the available resources. To start a company one requires the right technology, fund and man-power, which is readily available in India. Besides this, for the budding entrepreneurs, supports are provided at state and country level. The government has implemented a number of programs and schemes for encouraging entrepreneurship. In Maharashtra, MCED offers a systematic training and nurture the young minds and provide them with all the information and data they would require for starting their company.
Scope For The Entrepreneurs
There has been recent development, where in government has come up with initiatives like ‘Make in India’ to encourage independent employment opportunities. When talking about scope in India, there are some important factors that can help in not only setting up a company but running it successfully.
Youth Oriented Demography:
India is a country with a huge number of youth work forces who are in desperate of jobs. They are educated and can be easily trained. These resources can be used for ones benefit and not only generate profit for oneself but also make a meaningful impact on the society by generating jobs.
Large Population:
The economy works on the policy of demand and supply. With its large population India is already is a huge market that has a diverse demand, which needs to be catered. For any entrepreneur, this is just the right place to start their company. All one need to do is come up with a business idea that they can use for the benefit of both the parties.
In a nation as diverse as India, every other individual is in need of one thing or the other. They have a different requirement and taste and hence it is require for an entrepreneur to study them and with the proper usage of technology, enough funding and right man-power, a venture can be easily opened.
(Article by Kalpana Sinha, a Management Post Graduate with over 20 years of rich experience in building institutional capacity in Entrepreneurship and creating the largest community of aspiring entrepreneurs in North India)
Source: brainbuxa
