Fostering Entrepreneurship: A Vision for Viksit Bharat 2047

Abstract

Entrepreneurial activity is playing its role in faster economic development in the global economy as well as in Indian economy. The present environment of entrepreneurship in India is defined by a growing culture of innovation and risk-taking. Entrepreneurs in India are exploiting the country's abundant resources, broad talent pool, and rising domestic market to produce innovative goods and services that respond to the shifting demands of the population. However, the Indian entrepreneurial ecosystem still confronts various obstacles relating to access to capital, infrastructure, and regulatory impediments, which need to be solved to further promote the growth of the entrepreneurial ecosystem in the nation. The sustained collaboration and coordination of governmental agencies, commercial groups, and academic institutions is crucial in continuing this growth trajectory and making substantial contributions towards the achievement of the goal for a Viksit Bharat by 2047. The quick speed of technology advancements generates a culture of perpetual innovation, with technologies like artificial intelligence, machine learning, augmented reality, and the Internet of Things (IoT) enabling entrepreneurs to build new solutions.