Promoting entrepreneurship in India

It's a known fact that India, today, is an emerging economy that is destined to achieve milestones, on various fronts, in the near future. However, for India, to acquire the status of a "developed" nation, it needs to create 100 million jobs, statistics point out!

Experts confirm, in an endeavour to achieve this mark, tapping the potential of the unemployed and exploring opportunities in the employment market, so that each and every person plays a crucial role in contributing towards the growth of the Indian economy is necessary. However, how can one create 100 million jobs? And the million-dollar question is which industry will absorb people and bridge the employment gap? While experts are busy contemplating the possibilities of the army, the railways, the government and the private sector to recruit, speculations about the difficulty in employing in such huge numbers continue to persist.

So, is there any solution to this problem? The answer is entrepreneurship! With several organizations understanding the importance of entrepreneurs and the ways in which they can create jobs for the unemployed, thus paving the way for an enriching economy, they are partnering with several expert bodies such as institutes, financial firms, etc. so in best college in Indore to foster all kinds of entrepreneurship- rural, ICT, social, etc.

Partners in growth
India has almost 300 million youth, but only 100 million jobs. Therefore, the country faces a 200 million employment gap. And Amy Christen, Vice President, Corporate Affairs & General Manager, Networking Academy Operations, Cisco Systems, Inc. believes that this gap can be bridged through self-employment and entrepreneurship-driven employment.
In order to support entrepreneurship, the right framework, funding and mentoring needs to be provided. Entrepreneurs and small businesses are always most vulnerable in times of crisis when funding becomes dearer and difficult to come by. While others may put their efforts on hold during this economic crisis, it should be India Inc's organizations’ corporate social responsibility to continue to fulfill their vision and commitment to this effort.

She also adds that the financial crisis has created opportunities for start-ups. "There are good people available who are more willing to join start-ups; salaries are more reasonable and therefore within the reach of smaller companies; and young people, having learned that jobs in large companies are not necessarily "safe", may be more inclined to start off on their own," Christen adds. Hence structuring programmes to maximize the chances of success among young entrepreneurs and ensuring that entrepreneurs have strong mentoring and training to succeed in their business ventures, is vital.

Cisco, in a quest to achieve just that has collaborated with Small Industries Development Bank of India (SIDBI) and science and technology Entrepreneurs Park to promote information and communications technology (ICT) entrepreneurship and innovation in the country. We strongly believe in the entrepreneurial spirit of India's youth.

The author of this article is Asst Professor Pioneer Institute of Professional Studies Indore.