Entrepreneurship in Independent India

PATNA WOMEN’S COLLEGE
Autonomous
Patna University
3rd Cycle NAAC Accredited at ‘A’ grade with CGPA 3.58/4
Submitted By:
Aditi Gupta, 18
Sanjana Singh, 06
Khushi Kumari, 65
Department: BBA
Entrepreneurship In
Independent India
ENTREPRENEURSHIP
Entrepreneurship is the process by which individuals or a
group of individuals (entrepreneurs) exploit a commercial
opportunity, either by bringing a new product or process to
the market, or by substantially improving an existing good,
service, or method of production.
An entrepreneur is a person who organizes the means of
production to engage in entrepreneurship, often under
considerable uncertainty and financial risk.
Difference between Business and Entrepreneurship:
BUSINESS ENTREPRENEURSHIP
Businessmen run their business for the primary purpose of Entrepreneurs intend to make profits but with a purpose of
making profits. making a difference.
A business man might run a business that might be based on An entrepreneur is someone who invests energy, resources
a concept that is not original or unique. and time to build a model that is original and has been
evolved from scratch.
The complexity and severity of risks that businesses take are
based on calculations. Entrepreneurs on the other hand, sky dive into risks.
A Businessman is an adept planner, a knowledgeable An entrepreneur is inspirational, innovative, artistic,

manager, a result analyst who keeps things in control and has perseverant and influential.
a clear sense of direction.
Indian Entrepreneurship scenario before Independence
• The colonial-era saw entrepreneurship to be confined by the boundaries of social, cultural, and religious
rigidities.
• Further, the colonial rule brought in an array of political and economic factors that were non-conducive for
entrepreneurship.
• The volatile political environment, lack of favorable laws, harsh tax policies restricted the surge of
entrepreneurship.
• The education system did nothing to encourage the emergence of startups during this period.
• Slowly, the social reforms, rising nationalism, and betterment of education brought a steady change in the
scenario.
Entrepreneurship during Post - Independence
After taking a long sign of political relief in 1947, the Government of India tried to spell out the
priorities to devise a scheme for achieving balanced growth.
For this purpose, the Government came forward with the first Industrial Policy, 1948 which was revised
from time to time.
The Government in its various industrial policy statements identified the responsibility of the State to
promote, assist and develop industries in the national interest.
It also explicitly recognised the vital role of the private sector in accelerating industrial development and,
for this, enough field was reserved for the private sector.
Some schemes launched
by the government to
promote entrepreneurship:
Pradhan Mantri Mudra Yojana (PMMY)
• Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on
April 8, 2015.
• It provides loans upto 10 lakh to the non-corporate, non-farm small/micro enterprises.
• These loans are given by Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs
and NBFCs.
Startup India Initiative
• The Prime Minister of India launched the Startup India Initiative in the year 2016 on 16th January.
• The idea is to increase wealth and employability by giving wings to entrepreneurial spirits.
• 50,000 startups have been recognized via this scheme in a period of a little more than five years, as of June
3, 2021.
• The Department of Industrial Policy and Promotion is maintaining this initiative and is treating it as a long-
term project
A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship
(ASPIRE)
• It was launched in the year 2015.
• It is a Government of India initiative, promoted by the Ministry of Micro, Small and Medium
Enterprises (MSME).
• It aims at increasing employment, reducing poverty, and encouraging innovation in rural India.
Some of the famous Entrepreneurs from India:
Kiran Mazumbar Shaw

• Kiran Mazumdar Shaw is the Chairman and Managing
Director (CMD) of Biocon Limited, one of India’s leading
biotechnology company based in Bangalore.
• She founded Biocon in 1978.
• She is a trailblazer for women entrepreneurs in India.

Bhavish Aggarwal
• Bhavish Aggarwal is the Founder and CEO of Ola Cabs.
• It is one of India’s leading ride-sharing platforms.
• He started Ola Cabs in 2010 with just US$250, and it has

since become one of the most popular ride-sharing platforms
in India.
Conclusion
The government is not only promoting these schemes to help the present group of startups benefit from them but
also motivating the budding entrepreneurs, startups, and students from all domains, who tend to be independent and
lead the vision of Atmanirbhar Bharat forward.
These initiatives have been introduced for the development of the Indian startup ecosystem.
The country now seems to be heading towards the golden era of entrepreneurship, where if things go as planned,
India may host as many successful startups as the USA or any other leading nation by 2030.
THANK
YOU

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PATNA WOMEN’S COLLEGE

A Businessman is an adept planner, a knowledgeable An entrepreneur is inspirational, innovative, artistic,

Kiran Mazumbar Shaw

• She founded Biocon in 1978.

• She is a trailblazer for women entrepreneurs in India.

• Bhavish Aggarwal is the Founder and CEO of Ola Cabs.

• It is one of India’s leading ride-sharing platforms.

• He started Ola Cabs in 2010 with just US$250, and it has

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