Entrepreneurial development in India an analysis of some key factors

Abstract

The recognition of entrepreneurial role as a separete factor of production since the days of industrial revolution and the various theories of economic growth gives him an unrivalled status both in developed and developing countries. Economists, Sociologists, Political Scientists have all recognized the services of the entrepreneur to the society. Economists consider him as an essential element in generating investment opportunities. Sociologists consider him as a sensitive energizer in modernization of societies. The psychologists examine him as an entrepreneurial man. Providing proper enviroment that entrepreneurship demand involves the removal of these hurdles as well as bringing out modern and additional values and institutions for the incoming of entrepreneurs. Innovation and experimentation cannot thrive in a society ridden with traditional barriers such as distruct of new ideas. Entrepreneurship can progress with greater individual freedom. Hence, efforts have to made to encourage organization, motivation and capabilities.