India & entrepreneurship

Human beings are not job seekers by nature, they are enterprising by nature. It is wrong to think people as job seekers, ideally they are provider of goods and services.

Indians are once known for their enterprising nature, This is still believable, hen we see a large number of expatriates doing flourishing businesses in western countries. But by and large, this enterprising nature of Indians are stemmed out slowly due to various reasons in recent past.

But now we need a second wave of entrepreneurship, that will take India to number one economy in the world. It is the need of hour to build world class companies like Apple, Google, Daimler etc in India and to achieve new heights.

India is known for its Micro, Small and Medium Scale industries. And if we want to generate a enterprising India, we need to concentrate on these MSME industries. MSME industries, whether they are service providers, or manufacturers, need a special comprehensive approach.

1. First and foremost, students must be encouraged to think about establishing businesses. Now a days, students think of becoming employees and serving people abroad. This is not befitting to Indians being descendants of such a great sages. A passion, a streak need to be lightened into them to start their own business, to deliver needs of their country and rest of world. We need to provide them motivation to be master of their own destiny.

2. Ideas must be developed and must be streamlined. Products and process, which India requires must be brought to attention to the people.

3. Business friendly regime must be established. Factors of business like land, labor, captial must be accessible and competitive.

4. Free and ethical business environment needs to be created. Competition should be healthy. In India, people often practice unhealthy competition, that is widely visible in India's aviation and telecom sector. Ethical business norms must be encourages.

5. Also there should be a healthy insolvency code. In India, we are still having old bankruptcy practices, when all over the world has created, a good number of protective insolvency laws.

6. Taxation should be predictable and competitive. In India, Taxation is totally biased. We are a high taxation regime on one hand, but on other hand a large number of exemptions. So neither we get taxes and also we are precieved as high tax regime.