Entrepreneurship in India

05 AUG,2019 | MEDC


 

The suicide of a leading Indian businessman this week, has raised an important question: Are we being fair to our entrepreneurs? The fact is that India is a country with such complex laws that it is not rare for entrepreneurs to fall foul of some provision or the other – knowingly or unknowingly. Many grey areas continue to exist, especially on tax matters. India’s law enforcers and society may also need to change the way they view entrepreneurship. At a time when the country needs to integrate into the global economy, facilitating the ease of doing business is non-negotiable. This, of course, does not justify a lack of ethics in business, and the attitude to want to succeed at all costs. Disruption is a part of the wealth-creation process, and both the entrepreneur and government need to understand its inherent pros and cons. As long as all stakeholders are not on the same page, policymakers risk sending out the wrong signals to budding entrepreneurs engaged in legitimate activities. That could prove costly.

*Photo Credit: Google

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