Entrepreneurship in North-East India

Abstract

From the inception of the Republic of India till this day 60 years later, the northeastern India has been physically, economically, socially, culturally and emotionally marginalised from the rest of India. The diversity of the area is known to all but experienced by very few. The policy makers have so far not been able to address the economic and social needs of the diverse region and the region has not seen much economic development as compared to the rest of the country. The people are well educated and well versed with the English language yet still there is a high rate of unemployment and few available jobs. The literacy rate of the region is well above the national average, with Mizoram having the second highest literacy rate in the country, only next to Kerala. In fact, many national universities, and technical institutes of higher education have a significant number of students from this region. Yet, despite of educational qualifications, this region between Bangladesh, China and Myanmar has not developed economically as much as the rest of India. It would not be amiss to say that it is currently at the bottom of the developmental pyramid. This study will explore how economic and social development could be achieved in this region by exploring the entrepreneurial opportunities in the region which people of this region and others can pursue. And what are the challenges entrepreneurs faces particularly in this region. Entrepreneurship is one of the key roles to development of a region, a state or a country. Entrepreneurs are the driving forces behind any economy; they are the ones that create employment in our society. In India, the need for entrepreneurship exists in most of the states, but especially in the north-east region where the development of infrastructure and accessibility is very limited as compared to rest of India, due to poor infrastructure, power, transportation and co-ordination. Challenges associated with entrepreneurship in the region and how they might be overcome to facilitate more developmental activities are discussed. This document will also discuss on the brain drain from the region to the mainland. Entrepreneurship has a wide range of meanings: on one extreme an entrepreneur is a person who heralds change, pioneering innovation, possession characteristics found in only a small fraction of the population. On the other extreme, anyone who wants to work for himself or herself is considered to be an entrepreneur. The environment is changing all the time. New threats and opportunities arise every other moment. Hence for survival and growth of enterprise, it is important to be constantly alert and vigilant. Changes in people’s preferences make it possible for alert entrepreneurs to provide products and services that people demand.