India needs to make effort to keep up with the US and China


India should be working towards boosting entrepreneurship as research shows how the country has moved to 58th place out of 140 countries in World Economic Forum’s global competitiveness rankings. India has lots of resources that entrepreneurs can use and benefit from; so what is holding this country back?

It's far from being perfect. I also think the very important indicator is that how long it takes to create business and you have some places today where it takes half a day. India is still in the middle class here.

 The people should be educated more on leadership and entrepreneurial aspects. They should learn to create enterprise and how to take on new opportunities and make the big step. Looking at the technology sector, India still needs to improve and get updated with the latest technology as that is how the most innovative and powerful country is achieved. If governed well and pushed further by its leaders India can help build and sustain a genuine market economy. World Economic Forum’s founder and executive chairman said that India is far from being perfect on global competitiveness and is now ranking in middle class. India has a huge population where it has a growth rate of over seven per cent so obviously it is not this area that is the problem but lack of education, help, funding and innovation. One has to figure out why people prefer to work for others and have a nine-to-five job rather than create and innovate in their own business ideas. The government should also embrace entrepreneurship and help in kick starting it so that the economy continues to grow.
Going back in history around the 90's Indian business decisions were based on connections rather than competition. Indian businesses had to change their focus when the government liberated the economy and new competitors came into the market. This is when they had to shift to being customer-oriented. It’s 2018 now and citizens should be encouraged to get out of their comfort zone and innovate as well as become educated on what makes a business successful and what the market needs as the country’s future depends on all of this.


Economic Times - Indian News

India's entrepreneurship history

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