Government Schemes and Policies for Promoting Entrepreneurship in India

Abstract : Entrepreneurship is particularly essential on account of its role in innovation, value creation and employment generation, which contribute to the growth of any economy, including that of India. It is the Indian government who have recognised its importance and have introduced a number of legislations and programs to create an environment conducive for entrepreneurs and start-ups. Attractive schemes such as the Atal Innovation Mission (AIM), Stand up India, Make in India, among others, have opened doors to capital availability, mentors and market access in a big way. It has been quite supportive of organisations like Small Industries Development Bank of India (SIDBI) and the Ministry of Micro, Small & Medium Enterprises (MSME) in stimulating innovation and entrepreneurship among small units. The analysis also assesses the success of specific initiatives, reviews how these policies affect India's entrepreneurial ecosystem, and discusses some of the challenges that entrepreneurs continue to face in leveraging these opportunities. Barriers, everything from onerous regulations to artificial barriers to entry into the marketplace, persist, even as the programs have made it easier to receive infrastructure and financing. The findings from this study call for sustained reform in the ease of regulation and enabling environment to do business, if entrepreneurial practice is a continuum in India.