Is being an Entrepreneur in India a Boon or Bane?
Is being an Entrepreneur in India a Boon or Bane? | Credit: Hitachi business finance

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Is being an Entrepreneur in India a Boon or Bane?

Oct 06, 2018

What are you waiting for? Things are now so favourable and they are moving so fast in India! It’s the right time for entrepreneurs and start-ups to have a good time in business! There has never been the best time to start your business than this time! 

Many of us would really want to start up our own business. We admire the spirit of entrepreneurship. But we’re afraid to take risks related to starting and running a business. We’re scared to lose our money in a seemingly empty business venture. Yet there are persons who’re taking risks and succeeding in their business. 

But what’s the secret to starting and succeeding in your entrepreneurship? One important way is through learning from other people. This is an unchangeable fact of life. He that is willing to learn from others will succeed in starting and running his business.

Whom can you learn from? From people who have an entrepreneur spirit and have successfully made it. Let’s try to listen to one these winning people.

‘You need to be patient to attain something in future,’ says Gupta. And as for the future of businesses he continues saying, ‘The future lies in the hands of the entrepreneurs who will create jobs.’

What makes this dude to talk with such optimism and confidence? Because he speaks from experience since he has a tremendous CV behind him for his young age. This is his CV below:

  • He is an IIT graduate from Roorkee
  • He is Prasoon Gupta, co-founder
  • He co-founded Sattviko in 2014
  • Plus education venture, Techbuddy Consulting in 2009 while he was still a student at IIT

If he could do all this despite being young, you too can do it!

Granted, there will be some problems along the way. But despite these growing challenges, entrepreneurship will still be the key pillar of development world-wide and indeed in India. So it’s worth taking the risks!

There’s one main way in which a big number of Indian entrepreneurs, such as Gupta, are trying to succeed. They are trying to look into the productive and promising domestic Indian market.

Yes, a good entrepreneur sees business opportunities in connection with the services and goods that people domestically need in his area. He sees these services or goods and finds a way to sell them to people.

In this regard, Gupta sees business innovation opportunities in domestic fields like these below:    

  • Clean water
  • Better agricultural practices.

On the other hand, Suja Chandy, Vice President, Invest India sees business opportunities in growth in connection with the following domestic things:

  • Infrastructure
  • Renewable energy
  • Automotive sector
  • Education
  • Health care
  • Tourism

Clearly, both these two guys are able to see business opportunities in the India domestic market that you too can take advantage of.

What else? India has a huge economical goal. India aims to have an economy that is worthy $10 trillion in the coming 10 years or so. To achieve this goal, there are certain rock-solid things that are fuelling this huge change in India.

Namely:

  • Some enabling policies of the government
  • Focusing on infrastructure development
  • Emergence of a digital economy
  • The demographic dividend
  • And the rise of the entrepreneurs and start-ups

What about the future? There’s belief that there’s going to be some exciting and good things in future for entrepreneurship.

Murugavel Janakiraman, CEO, Matrimony.com, says that what is being presently seen in India is the first stage of entrepreneurship. He’s predicting that there’s something more that’s coming in future just after this great boom in the first stage of entrepreneurship. It’s predicted that after this first stage of entrepreneurship, there is going to be a boom in the following good things:

  • Businesses leap frogging into the mobile ecosystem
  • Internet will dominate
  • And IoT, AI and automation is set to change the way businesses work in the future
  • When the per capita income touches $4,000, consumer spending will increase significantly and growth will follow
  • Many billion dollar companies will emerge

There’s no doubt that the future for entrepreneurs and start ups looks brilliant and promising in India! What are you waiting for? Get and start your business!