FACTORS RESPONSIBLE FOR DEVELOPMENT OF ENTREPRENEURSHIP IN INDIA: AN EMPIRICAL ANALYSIS

Abstract

Entrepreneurship is not a new phenomenon to Indian context. In India it was started from the medieval age. But after economic reform in 1991 there is a sharp growth of entrepreneur development in every year. So purpose of this study is to determine the critical factors which are responsible for development of entrepreneurship in India. Whether entrepreneurial behaviours and attitudes are responsible for entrepreneur development or framework and infrastructure of India is responsible for the development. We also want to measure the magnitude of effect of factors on the entrepreneurship development. For the above study data has been collected from secondary source for the last 10 years i.e. from 2013 to 2022. Behaviours and attitude factors are measured by 3 sub-index such as entrepreneur attitudes & personalities, Inner Motivational Index, and established business ownership. Whereas framework and infrastructure factors of the country are measured by 4 sub-indices such as easy access to finance, Governmental programs, governmental support and policies, entrepreneurship education and training Panel data is analyzed through Ordinary least square method and Generalized Methods of Moments for find out the effect of critical factors on entrepreneurship development.