INDIA CAN PROGRESS THROUGH INNOVATIONS AND ENTREPRENEURSHIP




New Delhi Institute of Management NDIM Diorama
INNOVATION & ENTREPRENEURSHIP
Volume 2, Issue 2 July 2018
INDIA CAN PROGRESS THROUGH INNOVATIONS AND ENTREPRENEURSH


Innovation and entrepreneurship require business opportunities, collection of re- sources including finance, talented person- nel, managerial skill, and proficiency to take decisions which will include calculat- ed risk. The true entrepreneur will unearth new opportunities in public as well as in private enterprises.

Government of India launched Make in India program on September 25, 2014 with the intention to encourage companies to manufacture goods in India which can be used locally and can also be exported. Make in India encourages entrepreneurs with innovative ideas to invest and manufacture in India.
Make in India would enhance economic growth of the country and will create more jobs, augment skill development, protect intellectual property, attract foreign investment particularly Foreign Direct Investment (FDI). Industries would be established under Make in India program and it will alleviate the whole area because for establishing industries basic infrastructure is obligatory. Establishment of more industries and manufacture of goods would enhance the GDP of the country and Indian rupee which is otherwise sliding.
Under Make in India program not only the quantity but quality of the product would also improve and it would enhance the brand value of Indian goods. It will create a better business environment
and obsolete regulations and procedure would be scrapped.
The energetic entrepreneurs would also up-grade the technology in the manufacture sector where Indian industries are lagging behind. Previously several young entrepreneurs migrated to the developed world as they felt that it was difficult to establish industry in India. Nevertheless under Make in India young enterprising persons are setting up industries in the cities as well as in rural areas. It is now economical to set up industry in rural areas because of low-priced land and less-expensive labor. On the other hand, the critics feel that excessive industrialization would exhaust natural resources, pollution would increase manifold, agricultural would suffer and large chunk of arable land would be taken over by industries. It will be a big threat to the ecology and environment of the nation.
In a nutshell, India has no option but to make the country a manufacturing hub so that more jobs are created for young people nevertheless stringent rules should not only be formulated but must be implemented in letter and spirit so that the environment of the country is not polluted and does not harm the health of the people.
Mr. J K Verma Strategic Analyst & Former Director Cabinet Secretariat India Strategic

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