Business For All - July 2015

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"Indian economy is the bright spot in the global landscape" said the International monetary fund in a recent statement and added that India is now one of the fastest growing emerging market economies with a growth rate that is to accelerate further.
While there is a lot to cheer about the IMF's assessment, we have to take note of the fact that India will have a workforce of billion persons by 2030 with a million persons entering the job market every month. While skill development is critical, it won’t translate into enough employment unless existing firms grow and many new enterprises come up. The Indian economy is currently creating only 5.5 million organised sector jobs a year, resulting in a burgeoning demand for jobs that are non-existent.
The only solution to the issue of jobs is to promote entrepreneurship. Reinforcing this and "Motivating the entrepreneur in you" is the core purpose of Business for all. By publishing successful entrepreneurial stories from diverse sectors from every nook and corner the country, the magazine has been doing its bit where the "fear of failure" and lowering of social status was a major hindrance and barrier to entrepreneurship. Till a decade back, it was common for fathers not to give their daughters in marriage to prospective grooms who were businessmen and hence not very economically reliable or socially mobile .