History of Entrepreneurship in India
Paradoxes abound in the Story of Indian Entrepreneurship. The entrepreneur was considered during the pre-colonial and colonial eras more as a trader-money lender merchant, rigorously constrained by caste ties and religious, cultural, and social influences ranging from the concept of fate to the joint family system. Entrepreneurship as we know it now most certainly did not emerge from this social group. A wide range of political and economic variables had an impact on the entrepreneurial spirit. Numerous factors had a negative effect on Indian entrepreneurship, including a lack of political unanimity and stability, ineffective communication systems, the presence of customs barriers and repressive tax laws, and the use of numerous different currencies up until the third decade of the 19th century.
Over the previous two decades, India has developed from an IT services and business process outsourcing hub to a substantial R&D center for international corporations, with new business models emerging nearly daily. I anticipate the next wave of unicorns will be far more diverse, focusing on cutting-edge technologies such as robots.
The landscape of talent has likewise shifted tremendously. Most of our entrepreneurs came from business families only eight or ten years ago. That is no longer the case, and many of our young entrepreneurs come from non-business backgrounds.
India's claim to independence was the creation of an environment favorable to the growth of entrepreneurship.
The later development and expansion of Indian entrepreneurship must be viewed against this vast backdrop.
History Of Entrepreneurship In India
Growth of Entrepreneurship:
The Second World War boom, which attracted many entrepreneurial people from many walks of life, including businessmen, artisans, etc., to the small industrial sector as entrepreneurs, is largely responsible for the expansion of entrepreneurship, particularly in the small scale sector. Many highly trained individuals started small businesses during this time using outdated equipment and private funding. India started deliberate economic development programs after gaining independence in all economic areas, including small businesses.
Routes – Silk Route and Spice Route
The company and trades commenced in India following the evolution of global routes for trading goals. India went correlated to abutting foreign countries within the network street-roots heading to the Silk Route. The maritime route connection between India and other foreign countries was known as the Spice route.
Trade And Business In Ancient India
The Indian Archaeological evidence has shown that entrepreneurship started in the early age of ancient India. The trading culture mainly followed by the Harrapan civilization established a commercial connection with Mesopotamia society. They used to exchange their handmade-craft products. Like toys, pots, utensils, and corps to fulfill their daily needs. The Harrapans period of marked as commercial and business activities in India. They have regulated few trade activities, different types of coin and handcrafts metals as import and export products. After this civilization people, transport the material to national and international countries and followed believed in their entrepreneurship.
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