Need for Entrepreneurial Development Programme in India
The trained and successful entrepreneur becomes ideal for others. The talents of entrepreneurs can be raised by undertaking Entrepreneurship Development Programme (EDP). The need for EDP can be visualized from the following explanations:
i. EDP facilitates in removal of industrial slums because it leads for decentralization of industries.
ii. It facilitates in harnessing of locally available resources, which are abundant by providing training and education to entrepreneurs.
iii. In defuses social tension by diverting unemployed youths for self employment. Young youths feel frustrated in the absence of employment. EDPs for various target groups can create employment opportunities and thereby surplus labour force as well as avenues for productive self-employment can be exploited.This will reduce the acute unemployment problem.
iv. Entrepreneur mobilizes idle savings of the people into productive investment and thereby helps in the state of capital formation.
v. EDP helps in improving standard of living of the people because innovation leads to production of goods and services in a wide sphere.
vi. It facilitates balanced regional development as it enables development of entrepreneurs in different areas of the state or county.
vii. EDPs develop entrepreneurial qualities through education,training and orientation programmes.