Paper Key : IRJ************436
Author: Shraddha Sarathe,Satwik Sahay Bisarya
Date Published: 27 Oct 2023
Abstract
One of the main goals of the government is to ensure that everyone has a respectable level of living. One of the best strategies to address this issue is to create jobs that are productive. Nevertheless, India has not been able to produce the appropriate number of jobs during the structural reform era in recent decades. It is imperative that entrepreneurship develop quickly in order to address the unemployment issue. It has an impact on the nation's economic development's composition, pattern, and speed. To fully achieve India's potential, we need a competitive and productive MSMEs sector as well as fresh start-ups. Growth achieved through an entrepreneurship-led strategy will not only boost GDP but also generate jobs, which is crucial for a nation like India. India has no trouble meeting demand.Our enormous domestic demand is primarily met by imports. It takes entrepreneurship to satisfy our own needs. India has a chance to gain a competitive edge in production through a variety of start-ups thanks to the demographic dividend, but a working population lacking in skills stands in the way. We can overcome this obstacle if we plan our workforce properly. Both positive and negative effects of entrepreneurship can be seen in the advancement of technology, industrialization, rural development, export promotion, and other areas. The government has made an effort to spur the nation's entrepreneurial growth, but there are still numerous obstacles along the way. Thus, in the wake of the start-up, stand-up India, and make in India programs, an effort has been made to research the ramifications of the most recent legislative changes regarding entrepreneurship as well as numerous concerns and challenges in India. According to the study, governments have placed a lot of emphasis on skill development in order to benefit from the demographic dividend. Providing a proper environment and implementing strategies effectively remain challenging tasks. Based on secondary data from the MoF, the CMIE, the annual economic survey report, and the Ministry of MSMEs.