"Strength of an economy influences larger policy making."
Indian economy is blessed with superior population dividend; but, lacks in harnessing the resource optimally. This is mainly due to the lacuna in our education system, which drives every student for getting ready for a race, instead of pursuing their dream. The traditional and narrow mind-set of Indians confines creativity in the four walls of academics; further, compels the youth to take up a job in some MNCs promising handsome salary. Hitherto, India has been bringing up its blossoming brains like broiler chicken to be relished by big foreign giants.
As our economy is in its shifting phase, with immense opportunities waiting at the doorsteps as a result of advance in technology, younger generation is exhibiting their courage in commencing business adventures. This is discerned as a silver shining in the dark clouds of our entrepreneurial mentality. For promoting spirit of entrepreneurship amongst students- engineering students who have completed two years of course, state governments like Kerala government ensure that these students can take an academic break for a year in putting wings to their entrepreneurial dreams or for research activities. After the break, the students can continue their course.
Let us analyse some of the pros and cons of this dropping out. The dropping out for business gives time to start very early in life by chasing their ideas. This thinking-out-of-the-box approach can be materialised at this budding stage, which would be later nipped by familial pressures. It also gives an upper hand in the future business due to their earlier specialisation. However, many of the teaching faculties perceive this as a reason for students not coming back to complete their course; hence, will not have a formal degree. In case the venture fails, there will be nothing to support them, and this makes them ineligible to be hired. Difficulty in raising fund and lack of experience are pointed as other drawbacks. But, as a whole, this system has been proved right in Western countries, where the universities liberally allow their students to take breaks between course semesters.
In case of adoption of such forward policies, our nation can be one among the top in contributing to the economy, which further enables to have a crucial say in international affairs. Taking pride of possessing the largest number of productive youth in the world, India has started sharpening its weapons by tackling the hitherto unfathomable and enigmatic youth potentiality. Hence, the present government started furnishing programmes like National Skill Development Mission, which is aimed to find out the hidden talent by creating convergence across sectors and states in terms of skill training activities.
This scenario has been glamourized yet again by the Start Up India Programme, which is envisaged to boost digital entrepreneurship at the grassroots level. Some of the features in this programme are really enticing, which include an income tax exemption to start-ups for the first three years, faster patent registrations, quicker exit for companies etc. This move can definitely motivate young entrepreneurs to transform ideas into action.
By the right move, the nation will be equipped with unerring apparatus for its development. Time has arrived to think about attracting the country's best brains powers, which have been immersed in the business rooms and laboratories in foreign countries. By adopting praiseworthy advances in policy making and project execution, India will be armed for gearing up to conquer global business summits.