History of Entrepreneurship in India
The Story of Indian Entrepreneurship is full of paradoxes. In the pre-colonial and colonial periods, the entrepreneur was primarily viewed as a trader-money lender merchant, who was severely bound by caste relationships and religious, cultural, and social factors including the idea of fate and the joint family system. There is little doubt that the modern concept of entrepreneurship did not develop inside this socioeconomic group. There were many different political and economic factors that affected the entrepreneuria l spirit. Ineffective communication infrastructure, the establishment of customs obstacles and harsh tax regulations, the usage of multiple different currencies up until the third decade of the 19th century, and a number of other problems all had a detrimental impact on Indian entrepreneurship. India has transformed over the past two decades from a centre for IT services and business process outsourcing to a sizable R&D hub for multinational firms, with new busin...