Role of Entrepreneurs in Socio Economic Development in India A Sociological Study

Economic development essentially means a process of upward change whereby the real per capita income of a country increases over a period of time. Entrepreneur plays a vital role in economic development. Entrepreneurs serve as the catalysts in the process of industrialization and economic growth. Technical progress alone cannot lead to economic development, unless technological breakthroughs are put to economic use by entrepreneurs. It is the entrepreneur who organizes and puts to use capital, lab our and technology. Accordingly, “development does not occur spontaneously as a natural consequence when economic conditions in some sense are right. A catalyst is needed and this requires entrepreneurial activity to a considerable extent, the diversity of activities that characterizes rich countries can be attributed to the supply of entrepreneurs.” The entrepreneur is the key to the creation of new enterprises that energize the economy and rejuvenate the established enterprises that make up the economic structure. Dr. Shivananda S Kempaller "Role of Entrepreneurs in Socio-Economic Development in India: A Sociological Study" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-3 , April 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49699.pdf Paper URL: https://www.ijtsrd.com/humanities-and-the-arts/sociology/49699/role-of-entrepreneurs-in-socioeconomic-development-in-india-a-sociological-study/dr-shivananda-s-kempaller