Need enabling ecosystem to support entrepreneurs: CII

GV Sanjay Reddy, Chairman, CII Southern Region, feels the government needs to create an enabling ecosystem to support entrepreneurial activity. He was speaking at a conference organised by the Confederation of Indian Industry titled ‘Entrepreneurs – catalysts of Growth’.

March 25, 2013 4:23 IST | India Infoline News Service

Confederation of Indian Industry organized a Conference on ‘Entrepreneurs – catalysts of Growth’, here on the occasion of Annual Regional Meeting of CII Southern Region. Addressing at the Inaugural of the conference, Dr. D Purandeswari, Minister of State for Commerce and Industry, Government of India, pointed out that India needs opportunity driven competent entrepreneurs, who set up sustainable enterprises, create employment, and generate wealth. “India is a land of ideas. Young Entrepreneurs will convert the land of ideas to a land of opportunity”, she said.

The Union Minister emphasized that the entrepreneur does not ask questions about whether they can succeed or whether they are worthy of success. “They are confident with the knowledge that they will make their businesses succeed. They exude that confidence in everything they do”, she said.

Talking about the scope of entrepreneurship development in India, Dr. Purandeswari, pointed that there is a dearth of quality people in industry, which demands high level of entrepreneurship development program throughout the country for the growth of Indian economy. “So the scope of entrepreneurship development in a country like India is tremendous especially since there is widespread concern that the acceleration in GDP growth in the post reforms period has not been accompanied by a commensurate expansion in employment”, she said.

Dr. Purandeswari also expressed that the role of entrepreneurship is not only about creation of enterprise but also includes creation of the capacity to produce wealth, jobs and income, which are the most direct indicators of economic development. “In fact, underdevelopment is not because of the lack of natural resources but because of the absence or inadequate supply of entrepreneurs. In fact, economic growth is the outcome of entrepreneurial endeavors”, she emphasized.

Adi Godrej, President, CII, in his keynote address, pointed out that entrepreneurs have been an intrinsic part of the Indian landscape since pre-historic days when adventurous risktakers crossed the Indian Ocean on fragile boats to reach distant lands. These early entrepreneurs imprinted their cultural footprints in regions as diverse as Arabia, Africa and South East Asia. “Today, this spirit of enterprise remains vibrant and dynamic in India as a new generation of entrepreneurs reprises the role of their early ancestors”, he said.

The President CII also opined that even if a capable entrepreneur develops a model to

monetize his idea, succeeds in finding funding, and in developing capabilities in marketing his product, extenuating circumstances can easily affect the business. “On the other hand, few occupations are as rewarding as entrepreneurship, the process of taking a new idea to its logical conclusion and seeing it widely accepted by markets. It is not just monetary gains, but also high satisfaction that one can expect as rich returns”, he said.

The Union Minister Dr. D Purandeswari and Adi Godrej gave away the awards to the winners of the CII Emerging Entrepreneurs Awards 2012. CII had received 400 + nominations for the Emerging Entrepreneurs Awards out of which the award was given to seven emerging entrepreneurs. The main objective of this Award is to celebrate the spirit of entrepreneurship as well as to showcase the Emerging Entrepreneurs from Southern States. The awards were received by –

1. Atin Gupta, Managing Director, Atin Promotions and Advertising Pvt. Ltd,


2. Anil Kumar.S, Managing Director, Great Sports Infra Pvt. Ltd, Hyderabad

3. Phanindra Sama, CEO & Co-Founder, RedBus.in, Karnataka

4. Ruchika Gupta, President, Borderless Access Panels Pvt. Ltd., Karnataka

5. Deepak Ravindran, CEO, Innoz Technologies Pvt. Ltd., Karnataka (Abinav

Sree, also Co-founder of Innoz, received the award on behalf of Ravindran)

6. Vivek Steve Francis, Co-founder & COO, MobMe Wireless Solutions Pvt. Ltd.,

Kerala (Manu Scaria, Co Founder received the award on behalf of Francis)

7. R S Prabhakar, Director, Taiyo Feed Mill Pvt. Ltd., Chennai

Le Phuoc Vu, Chairman, Hoa Sen Group, Vietnam, also received a special memento

from the Union Minister. Earlier, in his welcome remarks, G V Sanjay Reddy, Chairman, CII Southern Region, pointed out that for entrepreneurship to flourish in India there is a need to create an enabling ecosystem which supports entrepreneurial activity. “Today’s youth are self driven and blessed with innovative ideas – they only need a platform to showcase their talent which would help them to earn recognition and opportunity to set up new business. The Youth Wing of CII – the Young Indians is one such driving force embedded with entrepreneurial spirit. We need many more such youth movements in the country to drive entrepreneurship” he said.

Talking about penetrating into global market, Reddy emphasized that the entrepreneurs should work towards scaling up their business by adopting innovative and sustainable models. “To achieve global scale, entrepreneurs should embrace world class quality and create the Indian Brand for them to penetrate into global market, which is the essence for ultimate success in the entrepreneurial journey”, he said.

B Santhanam, Deputy Chairman, CII Southern Region delivered the concluding remarks.

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