Entreprenuership and economic growth in Indian context

Entrepreneurship is the best means of triggering economic development in developing countries like India. Economic development means a process of upward change in the real per capita income of a country increases over a long period of time. There are several mandatory ingredients necessary for the nourishment of entrepreneurship such as capital labour, management and several others. Entrepreneurship contributes to the economic development of an economy. The wide significant contributions that entrepreneurship makes to the economic development include promotion of capital formation, creation of large scale employment, promotion of balanced regional development of capital and effective mobilisation of capital and skill. The overall role of entrepreneurship in economic development of an economy is put as “an economy is the effect for which entrepreneurship is the cause”.