Entrepreneurship is the dynamic process of creating incremental wealth. This wealth is created individuals who assume the major risks in terms of equity, time, and/or career commitment of providing value for some product or service. The product or service itself may or may not new or unique value must somehow infused the entre prene securing more ever allocating the necessary skills resources history .
History of Entrepreneurship in India
The history of entrepreneurship is important worldwide, even in India. In the pre colonial times the Indian trade business was at its peak. Indians were experts in smelting of metals such as brass and tin. Kanishka Empire in the 1st century started nurturing Indian entrepreneurs traders. Following that period, in around 1600 A.D., India established its trade relationship with Roman Empire. Gold was pouring from all sides. A region of historic trade routes vast empires, the Indian subcontinent was identified with its commercial cultural wealth for much of its long history. Gradually annexed the British East India Company from the early eighteenth century colonized the United Kingdom from the mid-nineteenth century, India became an independent nation in 1947.
Economics phase In 19 century In India:
The period 1850-55 saw the establishment of the first cotton mill, first jute mill the first coal mine. In the same period, the first railway line was laid in India. In a period of 25 years, that is, the last quarter of the 19th century, there were 51 cotton mills more ever 18 jute mills. During the same period, India produced one million tons of coal per the Indian railways had a mileage of 8,000. The end of the 19th century there were 194 cotton mills and 36 jute mills, coal production had risen to over 6 million tons per an . In spite of the very rapid increase in industrialization the fact that the foundations for the development of modern industries for the utilization of coal and iron resources were laid the end of the 19th century, India was being gradually converted into an agricultural colony of the British.
Exploitation the manipulation of import – Export Duties :
During the 18th century, Indian goods, especially cotton silk fabrics, enjoyed a lead over the British goods. The aim of British trade policies was to destroy the supremacy of the Indian goods, protect the interests of British Industries ultimately succeed in penetrating the Indian market the machine-made goods.
The declared policy of the East India Company was to encourage the production of raw cotton, raw jute, sugarcane, groundnuts, raw silk and other raw materials and to discourage the production of manufactures in India. This policy of unequal trade was forced on India and since India had been subjugated, she could not retaliate but accept this wanton attack on the industry.
With time many Indian economists took note of the depleting National Income reduced productivity of the Indian agriculture. The Britishers started the industrial process in India with an aim of supporting its increased demand of ever expanding industries under the industrial revolution process. The British realized that growth of indigenous entrepreneurship will hamper their economic interests in India so the process of De- industrialization initiated. Effort made to control the trade of Indian industries.