Strengthening Sustainable Rural Development Through Entrepreneurship: An Indian Perspective

Abstract

Rural entrepreneurship is an important vehicle to drive sustainable rural development in India. The process of planning, starting, and operating a new business is termed as entrepreneurship. It has been described as having the ability and willingness to create, plan, and manage a business enterprise while accepting any risks involved to generate a profit. In India’s rural areas, enterprise and entrepreneurship are what fuel economic progress. A rural entrepreneur is someone who uses rural resources to develop products and establish enterprises that support the development of the rural economy and its growth potential. Although, these rural business owners encounter issues similar to those faced by urban business owners due to the rural setting in which they operate amplifies their difficulties. To reduce rural people’s migration and to support rural upliftment, it is necessary to encourage entrepreneurship and new employment opportunities. Consequently, rural entrepreneurship has the potential to greatly increase employment in rural areas. It is a more effective method of eradicating poverty and hunger, sustainable health and well-being, enhancing gender equality, quality education, decent work conditions, promoting innovation in industries, and ultimately reducing the inequalities which are mapped with the important agenda of the United Nation’s sustainable development goals (SDGs 2030). To bring about change, institutions must concentrate on the interactions between education, skill, entrepreneurship, and employment. This chapter explores the challenges and skills required for rural entrepreneurship in India, proposing a framework to enhance rural development through entrepreneurship.

Citation

Rajsinghot, K., Bala, S. and Singhal, P. (2024), "Strengthening Sustainable Rural Development Through Entrepreneurship: An Indian Perspective", Vinodan, A., Mahalakshmi, S. and Rameshkumar, S. (Ed.) Informal Economy and Sustainable Development Goals: Ideas, Interventions and Challenges, Emerald Publishing Limited, Leeds, pp. 239-256. https://doi.org/10.1108/978-1-83753-980-220241013