Practicing Success
What hindered the growth of entrepreneurship in India? |
Land reforms Excessive government regulation Diversification of industries Protection against foreign competition |
Excessive government regulation |
In industrial sector, many economists became dissatisfied with the performance of many public sector enterprises. Excessive government regulation prevented growth of entrepreneurship. In the name of selfreliance, Indian producers were protected against foreign competition and this did not give them the incentive to improve the quality of goods that they produced. Indian policies were ‘inward oriented’ that failed to develop a strong export sector. |