Entrepreneurship Education in New India

Abstract

Entrepreneurship is accurately considered a robust engine for a country's socio-economic development. In tune with the clarion call of 'Atmanirbhar Bharat' by the Prime Minister, Indian Society is poised to move in the direction of being 'Atmanirbhar' or self-reliant, with entrepreneurship constituting a critical component. Several policy initiatives and schemes announced by the government have consistently promoted entrepreneurship among the youth. The government envisages policy reforms that inculcate the spirit of self-reliance by supporting the native Indian micro, small, and medium enterprises, energy sector, and agriculture. An economic stimulus of ~20 lakh crores, equivalent to 10% of India's GDP has been announced by the government to revive the economy of India. In addition to this, the National Education Policy (NEP), 2020 has emphasized skill-based training, vocational education, orienting and welcoming entrepreneurship-educators and instructors in educational institutions, endorsing the inclusion of entrepreneurship in professional education, initiating incubation centres in higher education institutions. The implementation of the NEP, 2020 acts as an impetus for channelizing the skilled educated young human capital to achieve the goal of self-reliance.