Volume-X, Issue-IV, July 2024 |
Impact of Entrepreneurship on Economic Development in North-East India Dr. Nabanita Debnath, Assistant Professor, Department of Economics, Radhamadhab College, Silchar, Assam, India |
Received: 20.07.2024 | Accepted: 25.07.2024 | Published Online: 31.07.2024 | Page No: 302-307 | ||||
DOI: 10.29032/ijhsss.vol.10.issue.04W.124 | |||||||
ABSTRACT | ||
Entrepreneurship plays a significant role in economic development. In Schumpeter model of economic development, entrepreneur is the important growth agent who innovates and provides breakthrough in a routine- stagnant economy. It is evident that north-eastern states are lagging behind in front of the main-stream states of India in terms of many parameters of economic development despite of having enormous stock of natural and diverse human resources. The north-eastern region is mostly depended on agriculture for livelihood. However, in the recent years, the service sector has been widening in terms of its share to State Domestic Product. The region, being encircled by international borders, can grow by international trade. The development policy like Look East and Act East Policy of the GOI has further increased the scope of trade relation with the South-Asian and South East Asian nations. However, in order to capitalise the gains from trade openness, it is imperative to prepare the region in terms of what to export. In this respect growth of entrepreneurship is very essential to make the north-eastern region as the hub of innovation, production, and export. In this context, the present study aims to explore the growth potentiality of north-east and role of entrepreneurship. Further, the study aims to search the factors responsible of entrepreneurship development with reference to the north-eastern region. Keywords: Entrepreneurship, Economic Development, North-East India, Act East Policy, Self-employment |