Authors

1. Prof. Arati Basu

Affiliation

• New Delhi Institute of Management New Delhi

Abstract

India is experiencing faster economic growth for last two decades which has been changing the pattern of Indian economic environment. Growth story of Indian economy has been through development of private sector during this period. Most of this growth has taken place through entrepreneurial growth in the private sector. Development of Entrepreneurships at every period creates dynamism in the economy. New Entrepreneurs finds niche market which helps development of market economy. They are more likely to introduce new technology, new system of management, marketing. They are proactive to introduce new product and expands to new markets. Not only new entrepreneurs create employment, it modernizes the economy and gears up to faster growth. While new generation of entrepreneurships with new ideas of management, ability to innovate and create wealth for the economy emerge in the changing macroeconomic environment and with technological advancement. Studies show that preconditions for the growth of entrepreneurships are creating and supporting competitive environment. According to the study, India is still in nascent state of entrepreneurial growth and this is factor driven which is different from the growth of entrepreneurships through efficiency-driven, innovation-driven. These types of entrepreneurial growth is more dynamic, creates employment among high skilled workers which contributes to further r growth through market development in different sectors. Growth of self employment alone does not reflect growth of dynamic entrepreneurship. Knowledge Commission of India has categorized growth of entrepreneurship in four groups e.g. agriculture and allied services (level I), trading services (level II), old economy sectors such as manufacturing , gas, electricity and water supply(Level III) while the last level of entrepreneurial growth has been taking place in the knowledge intensive high growth sector, IT, Finance, supply chain, transportation and communication( Level IV).

Keywords

Entrepreneurship, , Macroeconomic Environment, factor-driven, Efficiency Driven, , innovation driven, , NSSO,, Regression Analysis.

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