Towards inclusive growth

If India is to realize its full potential, it has to enable Indians to do that first! We have to become an entrepreneurial society.


The demographic dividend that India is harping about and counting on is a double edged sword. It will accrue for the benefit of all only through inclusive growth, which can happen only through ‘opportunity based entrepreneurship’ as opposed to pure ‘sustenance entrepreneurship’ (with a miniscule percentage getting jobs in corporates and government). For this, all the stakeholders – government, industry, entrepreneurs and society – have to play an enabling role.


On the flip side, status quo on the entrepreneurial ecosystem will be recipe for disaster for the developing countries, including India, as they will not be able to provide productive avenues for gainful employment of millions of young people whose confidence levels and aspirations are soaring.

Historically, the governments and policy mechanism have been only reactive to crisis situations. It took the global financial crisis in the 90s for India’s economy to open up. It took another one recently for financial reforms to be brought to centre stage. The examples are many.

I wish to suggest, we do not have the luxury of reactive response in this issue. The damage of inaction will be too difficult and widespread to undo.

The increasingly confident, aware and ambitious youth in India, and other developing economies, are coming up with business ideas that are scalable. All the stakeholders in the ecosystem have a role to play if these business ideas are to blossom into high growth businesses. If we all do that, it will be a win for the innovative entrepreneurs, their backers and the community at large.

So, who are the ecosystem players and what role do they need to play?

- Entrepreneurs

- Society

- Government

- Industry

- Investors

In a series of articles, I will dive deeper into the role of each of these stakeholders.

I invite your ideas, suggestions, criticism and support. Remember, we do not have luxury of time and this will affect us all!