Proactive govt. can drive entrepreneurism

By siliconindia   |   Tuesday, 15 December 2009, 09:49 Hrs   |    7 Comments
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Proactive govt. can drive entrepreneurism
Bangalore: Indian entrepreneurs are globally recognized for building successful organizations right from scratch and this has projected India as a favorable location for entrepreneurship, but what do the entrepreneurs think about India and its future? Nearly 84 percent of respondents of a recent survey believe that India is headed in the right direction, while 87 percent feel that the country will be economically more powerful in the next five years. However, the two most important factors affecting India's future growth, the survey reveals, are making the government more business-friendly and cleaning up corruption. The survey by the London based think tank Legatum Institute reveals how Indian entrepreneurs look at the economy, what they rate as important factors affecting its future growth and how they assess their own business roadmap, reports Mint. The survey involved 2,357 individuals with a majority of them saying that India is an ideal place for entrepreneurs to succeed, which reflects the optimism of the country's future. According to the Legatum Institute, future iterations of the survey will allow India's business leaders, policymakers and thought leaders to track trends and understand how changes in the larger economy are affecting India's entrepreneurial population. The survey also points out that family plays a crucial role in the growth of an entrepreneur. Apart from family, the start up funds, which avoid stifling rules and corrupt practices also help in building a favorable ecosystem in the country to foster entrepreneurism.