Entrepreneurial Skills Requirement in a Leading Economy Like India: An Empirical Study

Abstract

Any nation's economic growth and development depend heavily on entrepreneurial abilities, but this is especially true of emerging economies like India. These abilities are necessary for seeing and seizing commercial possibilities, developing new markets, and providing employment chances. With one of the fastest-expanding startup ecosystems in the world, India has recently emerged as one of the world's fastest-growing economies. As a result, there is a huge increase in demand for entrepreneurial talents. Creativity, innovation, risk-taking, leadership, communication, and problem-solving are just a few of the abilities that make up entrepreneurial skills. These skills enable entrepreneurs to identify and pursue opportunities, navigate challenges, and drive growth and innovation. To encourage entrepreneurship, the Indian government has launched a number of programs, including startup incubators, financial assistance, and legislative changes. In spite of the supportive environment, Indian entrepreneurs still confront difficulties such as a lack of talent, regulatory restrictions, and access to financing. A comprehensive strategy involving the efforts of the public and commercial sectors is needed to address these issues. Additionally, in order to stay competitive and innovative, Indian business owners must constantly update knowledge and skills due to the country's rapidly changing business environment.