When economists and socialists compare India’s economy to what it was before liberalization, leaving all the economic downturns aside, it brings a small smile to me. Not because I don’t want our nation to grow but to the fact that we are heading towards another Entrepreneurship era.
In any B-School jargon, they will teach you the types of entrepreneurship:
- Opportunity Based
- Need Based
As I recall my readings and experiences of my father, During 90s or during liberalization period there were no Google, Microsoft to provide lavish jobs for a sustained living. Then what did the people do way back then to feed their families? They turned entrepreneurs! Speaking in management terms, they turned need-based entrepreneurs and it can be proved from the fact that most of the SMEs having revenue between 10Cr – 60 Cr were started during liberalization.
Entrepreneurship is need of the hour and it will happen! When our government becomes populist and forgets economic conditions, the FDI sinks as the industry loses faith in capability of the government resulting the world’s largest youth force to be unemployed. We have to create jobs for each other and this will happen.
With stagnant jobs, fast firing in MNCs and unsatisfied jobs, the talented youth force of this nation is poised to become entrepreneurs as what we see, the talented people don’t get satisfied with mediocrity for much time and they are willing to risk to uplift their careers and that’s where entrepreneurship starts!
India might have moved back to ’91 like crisis according to economists but we have not! We live with technology, confidence and dignity. Lets get going and create a smarter and better India. Its our chance to be part of an economic revolution.