Global Entrepreneurship Monitor (GEM) 2021-22 report

Context: According to the recently released Global Entrepreneurship Monitor (GEM) India Report (21-22), India’s entrepreneurial activity expanded in 2021.
Global Entrepreneurship Monitor (GEM)

• It is an international project which seeks to provide information on the entrepreneurial landscape of countries.
• It carries out survey-based research on entrepreneurship and entrepreneurship ecosystems around the world.
• It is led by Entrepreneurship Development Institute of India, Ahmedabad.
• It is the only global research source that collects data on entrepreneurship directly from individual entrepreneurs.

GEM’s Adult Population Survey provides analysis on the characteristics, motivations and ambitions of individuals starting businesses, as well as social attitudes towards entrepreneurship.
The Global Entrepreneurship Monitor (GEM) 2021/2022 report

• As per the report, India is among the top five easiest places to start a new business.
• India’s position globally- 4th
• Saudi Arabia topped the list, followed by the Netherlands and Sweden.
• India is on the top amongst low-income economies (according to GDP per capita) on different Entrepreneurial Framework Conditions.
• 80% of Indian entrepreneurs reporting much lower growth expectations.

More than 77 per cent of entrepreneurs are pursuing new opportunities due to the Covid-19 pandemic.

• India stands at 1st position out of 47.

India’s entrepreneurial activity with its Total Entrepreneurial Activity rate has increased to 14.4% from 5.3%.

• Established Business Ownership rate increased to 8.5%, from 5.9%.

National initiatives to promote entrepreneurship
Programmes implemented by Ministry of Skill Development and Entrepreneurship to encourage entrepreneurship in India:
1. Economic Empowerment of Women Entrepreneurs and Startups by Women (WEE)

• It is a pilot project that has been implemented in collaboration with Deutsche Gesellschaftfür International Zusammenarbeit (GIZ) Germany
• Aim- to pilot incubation and acceleration programs for women micro entrepreneurs and enable them to start new businesses and scale up existing enterprises in Maharashtra Rajasthan, Telangana, Uttar Pradesh and North Eastern region.

2. Pilot Project on Entrepreneurship Development (PM YUVA)

• It has been launched in 2019
• Aim: To create an enabling ecosystem through entrepreneurship education, training, advocacy and easy access to entrepreneurship network, for students and alumni of skill training institutes viz. Industrial Training Institutes (ITIs), Polytechnics, Pradhan Mantri Kaushal Kendra (PMKK) and Jan Shikshan Sansthan (JSS).
• It covers 10 States and 2 Union Territories.

3. Entrepreneurship Promotion and Mentoring of Micro and Small Businesses in Six Holy Cities

• Aim: to catalyze local entrepreneurial activities through involvement of potential and existing entrepreneurs, through entrepreneurship awareness and education.
• Six Cities: Pandharpur, Puri, Varanasi, Haridwar, Kollur and Bodh Gaya.

4. In order to enhance the employability of female workers, the Government is providing training through a network of Women Industrial Training Institutes, National Skill Training Institutes, Pradhan Mantri Kaushal Vikas Yojana (PMKVY) Centers and Pradhan Mantri Kaushal Kendras.