MEANING, SIGNIFICANCE AND CONCEPT OF ENTREPRENEURIAL DEVELOPMENT IN INDIA: We can understand the Entrepreneurial history of any country in the context of her economic history. In India the industrial activities began with handicrafts and the village community was the scene of economic activity. The type of work was caste-based that consisted of farmers, artisans and Brahmins. Scanned with CamScannerlected cities Organised industrial activity was seen cat majo! , rae Lay Allahabad and Mirzapur located of transportation. Thy Was because rivers were the major means O ero Maharajag artisans industries flourished, under the Leap ae From time Workshops called ‘KARKHANAS’ came into existe! ie i entury, the Indian | immortal till the beginning of the 18th Century, an ali onpal handicraft industry enjoyed worldwide reputation. Bengal corchs, Ahmedabad’s dhotis and Banaras’ matelwares Werg Popular all over the world. he Indi During the last decade of the 18th Century, a fan landicraft industry declined mainly due to the In ae! Revolution in England, low-priced British goods were produced on a large scale against which the Indian handicrafts could not compete. An entrepreneur -is considered as an agent who Provides economic leadership that changes the initial conditions of economy. In other words, the concept of entrepreneur as an ‘Innovator’ was gradually accepted. It was stated that entrepreneurship was not a profession on a permanent occupation and therefore did not form a social class like capitalists or wage earners. Psychologically, entrepreneurs are not motivated solely by profit. In a static Society interest and profit cannot exist, they could arise only from progress. STAGES IN EVOLUTION OF ENTREPRENEURSHIP: Along with the evolution of evolution of entrepreneurship hi today, various economic system: capitalistic society believes in society believes in ownership by the state while a allows a blending of individual ai various economic systems the ‘as kept pace. In the world of is have been in Operation. The “development in India. The fol] Entrepreneurial growth in India. (1) Ancient Period: Before the advent of the Industrial Revolution India was considered as a developed nation. India had trade relations with many nations. The Portuguese, the Dutch and the Britishers Scanned with CamScannerincreased trade relations with India. During the ancient period India was called as a golden bird. The Muslin of Dhaka, the Shalu of Kashmir, the Dhoti of Ahmedabad and the Utensils of Varanasi were world famous. According to the available information it is learnt till 1857 the entrepreneurial growth was slow due to the following reasons: (a) Absence of basic facilities. (b) (co) Lack of financial support. (d) Lack of transportation. (e) Caste related trade and profession. (f) Fear of war at any time. (g) No definite tax policy. (2) Development Stage 1857-1947: The Britishers ruled India for 150 years. They not only changed the political structure but also the social and economic set-up. During the period the East India Company and managerial agency methods contributed to the growth of entrepreneurship. Even during the period of Second World War (1939-1945) business flourished. : The Parsi, Guajarati and Marwari communities contributed a lion’s share in the development of entrepreneurship. Jamshedji Tata, Walchand Hirachand, Ghanshamdas Birla and others took the lead in industrial development of our nation. Ranchhodlal Chhotalal, a Nagar Brahman was the first Indian to think of setting up a textile manufacturing unit on the modern factory lines, but failed. In his second attempt, he succeeded in setting up a Textile Mill in 1861 at Ahmedabad. But before this, the first cotton textile manufacturing unit was already set up by a Parsi - COWASJEE NANABHOY DAVAR in MUMBAI followed by NAWROSJEE WADIA who opened his Textile Mill in 1880 in Bombay. : The Parsis were instrumental in expansion of Textile Mills upto _ 1915. Out of the 96 textile mills in 1915, 41 were set up by Parsis, 23 by Hindus, 10 by Muslims and 22 by foreigners. Later on the Protection from the king. Scanned with CamScannerParsis i n and steel industry at J nvaded other fields mainly iro aMshedpur in 1911, a uunced the SWADRg During the same period, Gandhi ied flip to INDIGENGt* MOv EMENT Which gave a much nee ave of entrepreneyy; 1 ENTREPRENEURSHIP. The second “The Government of Ind, Srowth began after the First World War. iminating protection, 5 initiated and adopted the policy of discr rotection should 5 Made it mandatory that companies Teen | some Indian ‘Tegistered in India with rupee capital an f manufactur, directors. These measures helped the growth ° 1 mg industries and East India Company lost its monopo! le ): @) Development after Independence (1947 owas Se Entrepreneurship began to grow faster caring the pos. | independence era, The government of India Spelt out the Industrial Policy Statements for the rapid industrialisation Of the Country. It also recognised the responsibility of the’ state to Promote, assist and develop industries in the National Interest, jt also recognised the vital role of the private sector in accelerating industrial development. The government decided to pursue the following objectives: (a) to maintain a Proper distribution of economic power between private and public sectors, (b) to encourage the growth of industries by Spreading entrepreneurship from existing centres to other cities, towns and villages, and ; | Government decided to encourage the development of Small-scale Industries. It offered | ~ Various incentives, concessions ang Subsidies to small-scale | industries in form of capital, technical know-how, market and | land to establish industries Particularly in th f ion of | the country. y ‘¢ backward region Scanned with CamScanner