Entrepreneurship Readiness in India: An Inter-State Comparative Study

Abstract

Interest in the field of entrepreneurship is increasing due to its importance at national as well as international level as it contributes significantly to the national economy. The current Indian entrepreneurship scenario is unimpressive compared to other countries throughout the world. India’s Global Entrepreneurship Rank is 104 which is very poor compared to United States (1st), Canada(2nd ), Australia(3rd ), United Kingdom (4th) and China (61st) (GEDI, 2015a). Though Indians have high knowledge of process innovation and opportunity perception, they lack in start-up opportunity, human capital, risk acceptance(GEDI, 2015b). These factors hinder the blooming of entrepreneurship in India. In India, the five states—Andhra Pradesh, Maharashtra, Tamil Nadu, Uttar Pradesh and West Bengal together account for about 50 percent of the total enterprises in the country (MSPI, GOI, 2006). Thus, the relevance of entrepreneurship in Uttar Pradesh and West Bengal is immense.