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The Rise of Entrepreneurship in India

In: The Knowledge Economy in India

Author

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  • Dipendra Sinha

Abstract

While economists have long recognized the role of entrepreneurs in economic growth, Schumpeter was the first economist to formalize the myriad roles that they play. Entrepreneurs have the following functions according to Schumpeter (1934 and 1939). First, they have the task of reorganizing industry; second, they exploit new sources of inputs; third, they introduce new technologies to reduce the inputs needed to produce a given amount of output; fourth, they open up markets; and fifth, they introduce new products.

Suggested Citation

  • Dipendra Sinha, 2003. "The Rise of Entrepreneurship in India," Palgrave Macmillan Books, in: Frank-Jürgen Richter & Parthasarathi Banerjee (ed.), The Knowledge Economy in India, chapter 8, pages 149-162, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-51298-6_9
    DOI: 10.1057/9780230512986_9
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    Cited by:

    1. Beverlley Madzikanda & Cai Li & Francis Tang Dabuo, 2021. "What Determines the Geography of Entrepreneurship? A Comparative Study Between Sub-Saharan Africa and South-East Asia," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 7(2), pages 246-262, July.

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