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The development at present is booming in the A and B category towns rather than the metro cities.The A and B towns are growing fast if we go by the number of malls and commercial complexes that are coming up and also growth in industries. But is the speed of development in line with India is a big question mark as rural India still stand devoid with the development boom.growth. overall economy has been growing more than 8 percent consistently for the last three years and everyone is optimistic about its future growth. If we take a closer look at this growth, especially looking from the perspective of cities, Bangalore and other metros have contributed highest to the GDP Gross Domestic Product. I would say the ratio of contribution to GDP by metropolitan cities Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Pune to the contribution by NonMetro cities might be in the range of 70:30.
According to Nasscom report, IT has employed 1.5 million people in India and the interesting fact is that it has created indirect jobs in many fields.Even the BPO and KPO setting up in India are due to the IT growth.As these 1.3m high earners spend their money in the restaurants, on clothes, on weddings etc. others get employed thus indirectly creating huge market space/opportunities. This influx of IT professionals and the rise in IT jobs has made Bangalore the fastest growing market and the fourth largest in India. Bangalores per capita income is now the highest for any Indian city.
Definitely there are not enough opportunities for this talent and rightly so the best talent migrates to other cities with ample opportunities. The growth comes from the opportunities available within and new opportunities which are created by entrepreneurs after visualizing the growth potential.
Bangalore can be a role model for any city in terms of entrepreneurial activities which indirectly creates jobs. I would say entrepreneurs play a major role in the real growth of any city and one thing that The country badly needs is more and more entrepreneurs venturing for sustaining the growth and development of the employment opportunity for the country. The growth in the number of large businesses in India is pretty slow compared to other other countries and here people are more inclined to jobs and the person starting the own venture is looked upon as a individual who is not very talented and can not meet the job market requirement so start his own venture.
For further growth in the SME and entrepreneur activities the mind set required to be change otherwise most capable mind will not join and thus the success pace will be slowed. Well, looking at the other way, does our environment support new entrepreneurs. Is there enough encouragement for youth to take up entrepreneurial paths. One of the fundamental requirements of an entrepreneur is the ability to take risks and that is missing in we Indians
External support also plays a major role in developing entrepreneurial activities and this may be from organizations or institutes. There may be many talented youth with risk taking abilities but in need of seedfunding. Angel investors are the ones who usually support buddingentrepreneurs.
The flat world of today through internet supports many businesses irrespective of the location and one can clearly leverage this benefit. So if we do a good job of supporting budding entrepreneurs, we would not only be growing the economy but fastest growing economy soon becoming the developed Economy as the 20 20 Vision of former President Kalam,India as a Developed Nation by 2020.
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