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India's Challenge In Entrepreneurial Growth



Even being the youngest, full of potential and vibrant economy India is not growing at a desirable pace. The rudimentary barriers are corruption, difficulty in access to finance and credit, and nonadaptive labor laws, though some recent initiatives’ has been taken to promote entrepreneurialism in the country. Due to filthy system, lack of knowledge and enthusiasm the benefits of improvement initiatives and growth are not being enjoyed by all sections of the society, which further leading imbalance, instability and crime. So the GDP keeps growing but the gross income per capita hasn't shown any remarkable change. The government had promised of inclusive growth but hasn't been able to cater to the economic needs of more than a billion people. The demographic dividend thus becomes a demographic catastrophe.



In the Global Competitiveness Report, corruption was considered the key barrier to business in India, followed by difficulty accessing finance and high tax rates. This is also highlighted in the IMF report, which cited complex business regulations, lengthy litigation, corruption and bureaucracy as obstacles -World Economic Forum Global Competitiveness Report 2018.

The female participation is lowest in the region. Educational, social-cultural rigidities make it harder for women to join the workforce. The Forum’s 2017-2018 Global Competitiveness Index ranked India 129th out of 136 in its sub index measuring female participation in the labour force.




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