Role of Entrepreneurship for Economic Growth and the Employment Generation in India

Abstract

Small business and newly started business are the backbone of economy and these are the sectors which provides all categories of jobs to the all categories of workers. Policies that encourage the development of these entrepreneurship often consider the large market, healthy policy and economy, which helps in proper circulation of the money. For a developing economy like India, entrepreneurship would face heavy competition from the internal and external players, they should be too quick enough in their research and development, and in innovation. Employment is the main activity of economic cycle, which helps in enduring economic growth, but in the course of employment generation enterprises encounter with the factors which affect the smoothness of generating employment and economic growth, and in this paper, we are trying to find out few of them and evaluate those with association of factors and their role in economic growth and employment generation. The paper is trying to portray a possible effect of competitive environment on job creation and economic growth, with the other possible constants faced by the entrepreneur while working in the open market they are Innovation , demography ,government policies and cultural effect as these variable are chosen after the systematic literature review. For the purpose of the study we have gone through the numerous research article and works, with the help of systematic literature review we are able to find out the variable of the study that has explained in the paper, as this study is descriptive in nature and cover the few major factors that plays a vital role in the process of economic growth and employment generation followed by the entrepreneurial activity.