‘A manoeuvre’-to help you recognize the accelerators in your life…
By Rahul Dasgupta, Joint Managing Director, Globsyn Business School and Devesh Bansal, Director, Skipper Limited
Rahul Dasgupta, Joint Managing Director
Devesh Bansal, Director, Skipper Limited
‘Innovation distinguishes between a leader and a follower’- Steve Jobs
The last annual employment-unemployment survey in India (2015-16) report stated that unemployment rose to a five-year high at 5%, which earlier was 4.9 % (2013-14). One of the biggest concerns for any observer looking at the economy or noting the employment growth of the country. In a Country where Governments can be toppled over the question of employment, the situation is critical. India is a land of myriad possibilities, yet the parameters weighing our social status often is determined by the elusive ‘SarkariNaukri’ or following the treaded paths in medical or engineering fields. With 1652 languages spoken in India, it is not unnatural that professional choices in life also firmed upon the ways of the community one resides in.
Thus a person from the Western part of India is inadvertently thought to be a runaway success in business while someone from the cultural capital of the East is understood to join riskless Bank or Government jobs. Employment remains India’s inherent biggest challenge, which is worsened by three facts. First, there is unemployment and under-employment in the existing number of potential jobseekers. Second, as our population rises, an estimated one million additional Indians join the workforce every month. Third, agriculture will continue to shed its existing workers as, elsewhere in the world, its proportional contribution to employment and GDP falls.India must think of ways to create entrepreneurs who will be potential job givers rather than seekers, thus substantially reducing the burden of unemployed or underemployed youths.
The entrepreneurs are considered as the ‘change agents’ in the process of industrial and economic development of an economy.In promoting industrial and economic development of an economy,the entrepreneurs play a premium mobile role which is well presented across the countries.In a sense, entrepreneurs are the ‘spark plug’ who transforms the economic scene of an economy. For example, Japan and United States are developed because of their significant entrepreneurial development.
Business in common man’s language is not for everyone, but if you have the thirst to experience freedom and still generate income, entrepreneurship can lead to a startling life. In business, you get to set your own schedule; you get to take the final calls and are only answerable to yourself. But is becoming an entrepreneur that easy?
The Government of India has undertaken several initiatives and instituted policy measures to foster a culture of innovation and entrepreneurship in the country. Job creation is a foremost challenge facing India. With a significant and unique demographic advantage, India, however, has immense potential to innovate, raise entrepreneurs and create jobs for the benefit of the nation and the world.
In the recent years, a wide spectrum of new programmes and opportunities to nurture innovation has been created by the Government of India across a number of sectors. From engaging with academia, industry, investors, small and big entrepreneurs, non-governmental organizations to the most underserved sections of society.
Recognising the importance of women entrepreneurship and economic participation in enabling the country’s growth and prosperity, Government of India has ensured that all policy initiatives are geared towards enabling equal opportunity for women. The government seeks to bring women to the forefront of India’s entrepreneurial ecosystem by providing access to loans, networks, markets and trainings.
Initiatives beyond lending moneyhave been generated as well for instance, networking. Mentorship is something that requires strong commitment from both sides, and takes a lot of effort and endeavour. The end results, however, are more than worth it. The lessons, connections, and opportunities that mentors provide are invaluable. How about, if a bunch of mentors with expertise come together and guide aspiring entrepreneurs? Such a programme is no more a dream but a reality, that not only nurture the growth of aspiring young business personalities but it also recommends policies which help in creating a flowering entrepreneurship ecosystem in the country.
India is one of the fastest growing economies in the world. Over the last five years, it has posted an average annual GDP growth of approximately 6.7 per cent against the global average of 2.7 per cent. Between 2004 and 2012, the period for which conclusive employment data is available, average annual GDP growth was 8.1 per cent but job growth averaged only 2 per cent. India’s employment problem is further complicated by its demographic situation; it is at the cusp of realizing its demographic dividend. Almost half of India’s population, i.e. 1.2 billion people are under the age of 26; by 2020, India is forecasted to be the youngest country in the world with a median age of 29. United Nations Development Program (UNDP) estimates that by 2040 India will have the maximum share of working-age population; and in 2050 it will have the maximum number of working-age people. The need to create jobs is due to the significant growth in the working age population. In such an arid situation,“Employment through Entrepreneurships” and “Ease of Doing Business” by conducting training sessions and awareness programs for early stage entrepreneursacross India could bring in a difference.
There are further plans on roping in members from diverse sectors such as manufacturing, hospitality, media, education and retail by invitation. There will be individuals who would have demonstrated required depth of knowledge in his / her field. This would not only contribute towards entrepreneurial ecosystem but also give members an opportunity to enhance peer to peer learning.A dream that ‘NaMo’ has woven of making a new & sustainable India by 2022 could be fulfilled by such initiatives. It is more difficult to find business linkages than funding for a start-up. In most cases when a start-up raises capital, it spends it on marketing, promotion and client acquisition. A mentor-network helps in building a business- line across the country.
This initiative of generating jobs, works closely with universities and colleges to push entrepreneurship at the academic level itself. The curriculum content gives an individual a complete insight into the venture, license and approvals it would need as well as in the industry regulations. Secondly, it fosters the existing ecosystem and lastly, the network plans to set up a fund which would promote rural and urban entrepreneurs with a special focus on women. The training of multi skill variety needed by the blooming entrepreneurs cannot be accomplished through just structured formal training. Rather it requires the guidance with in-hand experienced mentors.
Tomorrow is built on today’s platform. Each of us spends 40-plus hours of our week in some form of work. That time could be spent doing something we love or doing something that makes us an achiever while contributing towards tomorrow’s growth. And for such an uplifting encouragement–
“An inspiration is all that we need. A support is all that we want. A mentor is all that we desire.”
Author: Stoodnt Guest Author
Stoodnt Guest Author are experts, professors, teachers, tutors and professionals who want to share their advice, insights and guidance to students, young professionals and others.
One of the most frequently asked questions for me – how to become a data scientist or what are the best courses/platforms to learn data…Read More
With the latest tightening of the rules on hiring foreigners in Singapore, several folks are confused about studies and jobs in Singapore. Singapore is an…Read More
An MBA is a very popular degree to have. When it comes to top MBA programs in the US, the craze is simply too high.…Read More