Rural Entrepreneurship
India is primarily an agriculture-based economy. The spirit of India lives in its villages. Farming and animal husbandry are being practiced for centuries. These practices have provided livelihood to millions of Indians. However, economic backwardness prevails in the villages due to illiteracy, lack of basic infrastructure, and remoteness. Our dependency on agricultural activities in rural areas has centralized its economy on farming. The farming sector is unorganized, dominated by landowners. Most of the farmers are dependent on them for production and selling. Workers are poorly paid and being exploited. The system is highly reactionary to the scope of agricultural development. In the present time, it is required to utilize the rural resources, both natural and human, for agriculture and other industrial purposes. According to the studies, ‘Industries, established in rural areas, contribute to the sustained growth of several economies like the USA.’ The scope of rural entrepreneurship hence flourishes for economic development. Industrial activities in rural areas are not limited to agriculture and allied services; other industries and services can also be established in our villages. Horticulture, sericulture, handicraft, medicinal plantation, fisheries, and several others can be developed as industries. There are several benefits to establishing industries in rural areas. The cost of land and labor is low compared to urban places. The availability of water, renewable sources of energy, and low maintenance costs are added advantages. Along with industries, the services sector can also be included for comprehensive economic growth. In the present scenario, a wide range of industries and services have established their bases in the rural sector. For instance, GAATHA, a company that sells handicraft, has contacted several artisans of different villages and helped them find a market for a better price of their craft.
There is another start-up, Rozgar Dhaba that sells tea and refreshment in the villages of India and also provides employment assistance to the unemployed people. Hence, the scope of industries and services are beyond imagination in the rural areas. Entrepreneurs are taking this sector seriously and establishing novel enterprises. However, there are certain loopholes in this sector. Slow internet connectivity, poor power supply, illiteracy, and others are some problems that are considered potential constraints in proper functioning. Despite abundant human resource availability in rural areas, there is still a lack of professional and educated employees. The issue of the market breach is also a disadvantage for the growth of rural industries. However, these are not very extreme hurdles. With proper rural management and administrative support, an industrial friendly system can be developed.
In India, various management institutes are providing courses related to rural entrepreneurship. NIRMA, situated in Ahmedabad, is a premier institute known for its excellent academic performance. India needs more institutions like it to realize the concept of self-reliant villages. Aspiring entrepreneurs need to consider the rural economy and generate job opportunities for the youth who leave their villages for better opportunities in the metropolitan cities.
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