The Social Context of Entrepreneurship: Indian Perspective

Abstract

India is a land of opportunities blessed with abundant natural resources and cheap skilled workers. Still, the entrepreneurial growth in India is far from satisfactory. Does the social context of India have had some impact on entrepreneurial activities? Research on entrepreneurship suggests that entrepreneurship is both an economic and social process and the entrepreneurial behavior is embedded in its social context. Social context becomes even more important a factor when we talk of entrepreneurial scenario in India because it is a collectivist society. The relationship oriented values of Indian culture, where trust and relationships are seen as binding forces, play important role even in business transactions. This study explores the linkages between social context and entrepreneurial activity in Indian context.