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Sixth-Semester-BE-Degree-Examination-June--July-2013-Management-and-Entrepreneurship-->View question


Asked On2017-05-14 21:51:10 by:neenu2

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scribedVarshaRajivPerumalSbinovtunotesbysreevijayvJhonVineshAishwarya-shetty-snikhil43874ajithvmNikhil-bharadwajmanjarimatturpallaviaithalnAnaghadebikadebnath

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ENTERPRENEURSHIP 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 her 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.The Government took three important measures in her industrial resolutions:-

(i) to maintain a proper distribution of economic power between private and publicsector; 
(ii) to encourage the tempo of industrialisation by spreading entrepreneurship from theexisting centres to other cities, towns and villages, and
(iii) to disseminate the entrepreneurship acumen concentrated in a few dominant communities to a large number of industrially potential people of varied social strata.

To achieve these adumberated objectives, the Government accorded emphasis on the development of small-scale industries in the country. Particularly since the Third FiveYear Plan, the Government started to provide various incentives and concessions in theform of capital, technical know-how, markets and land to the potential entrepreneurs to establishindustries in the industrially potential areas to remove the regional imbalances in development. This was, indeed, a major step taken by the Government to initiate interested people of varied social strata to enter the small-scale manufacturing field.Several institutions like Directorate of Industries, Financial Corporations, Small-Scale

Industries Corporations and Small Industries Service Institute were also established bythe Government to facilitate the new entrepreneurs in setting up their enterprises .Expectedly, the small-scale units emerged very rapidly in India witnessing a tremendous increase in their number from 121,619 in 1966 to 190,727 in 1970 registering an increase of 17,000 units per year during the period under reference.

The recapitulation of review of literature regarding entrepreneurial growth in India, thus,leads us to conclude that prior to 1850, the manufacturing entrepreneurship was negligible lying dormant in artisans. The artisan entrepreneurship could not develop mainly due to inadequate infrastructure and lukewarm attitude of the colonial political structure to the entrepreneurial function. The East India Company, the Managing Agency Houses and various socio-political movements like Swadeshi campaign provided, one way or the other, proper seedbed for the emergence of the manufacturing entrepreneurship from 1850 on wards.The wave of entrepreneurial growth gained sufficient momentum after the Second World War. Since then the entrepreneurs have increased rapidly in numbers in the country. Particularly, since the Third Five Year Plan, small entrepreneurs have experienced tremendous increase in their numbers. But, they lacked entrepreneurialability, however.The fact remains that even the small entrepreneurship continued to be dominated by business communities though at some places new groups of entrepreneurs too emerged.Also, there are examples that some entrepreneurs grew from small to medium-scale and from medium to large-scale manufacturing units during the period. The family entrepreneurship units like Tata, Birla, Mafatlal, Dalmia, Kirloskar and others grew beyond the normally expected size and also established new frontiers in business in this period. Notwithstanding, all this happened without the diversification of the entrepreneurial base so far as its socio -economic ramification is concerned.

“Liberalization was catalyst for growth of Entrepreneurship in India”

“Post-liberalization, entrepreneurship has generally increased in India,” Dr Mani told Business Line . And knowledge-intensive entrepreneurship in sectors such as IT and biotechnology has also increased since the economic liberalization process started in 1991, he added.The number of new companies formed during the 1980-2006 period points to a possible growth in entrepreneurship. Figures from the Ministry of Corporate Affairs show that from 1980 to 1991, the average number of companies formed each year was 14,379, while from 1992 to 2006, the average number of companies formed per year was 33,835. According to the paper, liberalisation itself kick-started the growth of entrepreneurship in India for it presented businesses in the country with new market opportunities.Liberalisation also reduced entry barriers for new entrepreneurs as it dispensed with or reduced regulatory measures such as industrial licensing. Similarly, improved availability of financial support from both official and private sources boosted the growth of entrepreneurship. However, entrepreneurship in India could have grown much faster if the capital market had been strengthened to support the system.

Even today, the capital market is not a major source of finance for enterprises, which mostly rely on internal sources of funding or debt. A study of 588 start-ups that participated in a competition conducted recently by National Entrepreneurship Network revealed that 70 per cent relied on personal savings for initial funding, he pointed out.Government-supported and public-private partnership ventures such as the National Science and Technology Entrepreneurship Development Board, Technopreneur Promotion Programme and business incubators in colleges and technology parks also facilitated the growth of entrepreneurship in India.Simultaneously, private sector initiatives such as The Indus Entrepreneurs and National Entrepreneurship Network also supported India’s knowledge-intensive enterprises. The increased availability of technically trained people and programmes that offered formal training in entrepreneurship also bolstered the growth of entrepreneurship.

Answerd on:2016-02-15 Answerd By:scribed

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