The entrepreneurial spirit in the youths of India is gaining remarkable momentum and it has been lately highlighted by the GUESSS India 2023 Report. The survey was led by IIT Mandi and it shines a spotlight on the rising ambition among Indian students to carve out their own paths in business. The spirit is driven by the supportive policy initiatives and burgeoning startup ecosystem in the country.
The nation is already boasting the third-largest startup ecosystem in the world. The data from GUESSS points to an even brighter future. Fourteen percent of Indian students intend to become founders immediately after graduation while 31.4% plan to pursue entrepreneurship within five years. The numbers reflect a tangible shift in the mindset of Indian youth.
The survey adds that Indian students show the highest entrepreneurial intent globally with an average score of 4.6 out of 7. The global average is 3.7 out of 7. The sheer energy and passion of young aspirants could be the key to fueling India’s economic engine in the coming years. 38% of students are already engaged in venture creation and 33% of them are in the nascent stages.
It is being questioned whether universities and institutions are ready to support the wave of student entrepreneurs. India’s policy framework and educational climate have certainly made serious moves. The survey serves as a call to action for both government and industry players to nurture this talent.
The report was led by Dr. Puran Singh and he said that the youth are India’s greatest asset. Their entrepreneurial drive holds immense potential.
India is at an important point where the youths could truly reshape the country’s economic future. Will the system rise to meet their entrepreneurial spirit?
