The Global Entrepreneurship Monitor (GEM) is an international project which seeks to provide information on the entrepreneurial landscape of countries.
- GEM carries out survey-based research on entrepreneurship and entrepreneurship ecosystems around the world and is being led by Entrepreneurship Development Institute of India, Ahmedabad.
What is India’s status?
- As per Global Entrepreneurship Monitor (GEM) India Report (21-22), India’s entrepreneurial activity expanded in 2021, with its Total Entrepreneurial Activity rate(percentage of adults (aged 18–64) who are starting or running a new business) increased to 14.4% in 2021, up from 5.3% in 2020.
- Further, Established Business Ownership rate (percentage of adults (aged 18–64) who are currently the owner-manager of an established business, i.e. owning and managing a business that has paid salaries, wages or any other payments to the owners, for more than 42 months)increased to 8.5%, from 5.9% in 2020.
- Boom in early-stage entrepreneurial activity for India in 2021 may be due to the pent-up demand and subsequent opportunities generated by the reduction in COVID-19 risk that damaged the Indian economy in 2020.
Schemes for entrepreneurship development
Ministry of Skill Development and Entrepreneurship (MSDE) is implementing various programmes to encourage entrepreneurship in the country as mentioned below:-
- Pilot project, ‘Economic Empowerment of Women Entrepreneurs and Startups by Women (WEE)’ is being implemented in collaboration with Deutsche Gesellschaftfür Internationale Zusammenarbeit (GIZ) Germany to pilot incubation and acceleration programmes for women micro entrepreneurs, enabling them to start new businesses and scale up existing enterprises in Maharashtra and other States, viz.Rajasthan, Telangana, Uttar Pradesh and North Eastern region of the country.
- Pilot Project on Entrepreneurship Development (PM YUVA) has been launched in November, 2019 for creating an enabling ecosystem through entrepreneurship education, training, advocacy and easy access to entrepreneurship network, for students and alumni of skill training institutes viz. Industrial Training Institutes (ITIs), Polytechnics, Pradhan Mantri Kaushal Kendra (PMKK) and Jan Shikshan Sansthan (JSS). The scheme covers 10 States including Maharashtra and 2 Union Territories.
- Entrepreneurship Promotion and Mentoring of Micro and Small Businesses in Six Holy Cities: The project seeks to catalyse local entrepreneurial activities through involvement of potential and existing entrepreneurs, through entrepreneurship awareness, education and mentoring in Pandharpur, Puri, Varanasi, Haridwar, Kollur and Bodh Gaya.
- Apart from above, in order to enhance the employability of female workers, the Government is providing training to them through a network of Women Industrial Training Institutes, National Skill Training Institutes, PMKVY Centers and Pradhan Mantri Kaushal Kendras.
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