Measures to boost the Entrepreneurship Development Programme in India

Measures to boost the Entrepreneurship Development Programme in India


Government of India has made an excellent attempt through various reforms and schemes to boost the development of new entrepreneurship in India.

The following strategies for entrepreneurship development in India may be suggested.

1.Creating Awareness Of Entrepreneurship

In order to shift the trend from wage employment to self employment the individual will have to be groomed at an early age by creating the awareness of self employment and by incorporating the vocational subjects in educational system starting from primary education only.

2. Entrepreneurship Development Training Programme by Government/Private Institutions

a)Entrepreneurship Motivation Programme:

This programme is required to create the awareness among the people in general and providing guidelines to the interested individuals for setting up the new business units in particular.

b) Special programme:

There may be need of planning special programmes separately for different types of entrepreneurs for example the technician entrepreneur is comfortable with the problems relating to production,designing and technology but he may not be comfortable in the are of market ,finance etc. Hence this category of entrepreneurs need to undergo special training in the area of market, finance etc. However the persons having trading business background find difficulty in the area of production and technology these persons need to be trained in technology and production.

c) Guidance for trading and servicing business:

The persons interested in setting up trading/service unit should be imparted training separately.A special training programme is required to be made and more emphasis should be given to cover the subject on marketing of service.

d) Follow up action:

Institutions/Organizations conducting the entrepreneurship programme should have a system to monitor the progress of their students in all the stages of business life cycle and provide them the guidance as and when asked for.

3.Simplifying loan Procedure

Inspite of various reforms being incorporated by the government to set up the new units,still there are number of formalities required by the entrepreneur to undergo before getting the loans.These formalities need a fresh look, which should be reduced to the bare minimum requirements of the bank so that minimum time,after the project has been finalized, is taken to bring it in operational stage.The loan procedure should be streamline so that entrepreneur does not experience harassment before setting up his enterprise.

4. Development of Backward regions /areas

The programmes for the development of backward regions should be formulated and effectively implemented.Such programmes await new entrepreneurs whose technical expertise and managerial competence would bring about the desired development and fulfil social needs.

5.Practical Outlook of special Schemes

The schemes like Prime Minister Rozgar Yojna(PMRZ) and District Rural Industrial Project (DRIP) should be  executed in true in true spirit of their organization.A special independent and competitive authority should be assigned to implement these programmes.Economic administration by the state should be improved and made more effective so that economic policies may fully achieve their objectives. Improvement in business climate by state through its well designed economic policies be it fiscal,commercial,industrial or agricultural  would facilitate healthy development of entrepreneurship.

6. Marketing Oriented Entrepreneurship

Marketing oriented entrepreneurship has a strong positive effect on firm’s market performance. Market-oriented firms gather, share and respond to market intelligence about customers and competitors.However there is need to develop the marketing oriented entrepreneurship.

Measures to boost the Entrepreneurship Development Programme in India

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