Entrepreneurship and Wealth Creation at the Grassroots

India ranks third in number of new firms created, as per the World Bank.

• New firm creation in India increased dramatically since 2014:
  • 12.2 % cumulative annual growth rate of new firms in the formal sector during 2014-18, compared to 3.8 % during 2006-2014.
  • About 1.24 lakh new firms created in 2018, an increase of about 80 % from about 70,000 in 2014.
• Survey examines the content and drivers of entrepreneurial activity at the bottom of the administrative pyramid – over 500 districts in India.
• New firm creation in services is significantly higher than that in manufacturing, infrastructure or agriculture.
• Survey notes that grassroots entrepreneurship is ....