DEVELOPMENT OF ENTREPENEURSHIP AND ROLE OF EDII IN GUJARAT- AN ENTREPRENEURS PERSPECTIVE

ABSTRACT: Entrepreneur creates a new business, process and technology for business. That means they change the world. Entrepreneurship is defined as the phenomenon associated with entrepreneurial activity which is enterprising human action in pursuit of the generation of value through the creation or expansion of economic activity by identifying and exploiting new products, process or markets. Entrepreneurship Development Institute of India is committed to entrepreneurship education, training and research. It also aims at creating a multiplier effect on opportunities for self-employment. It enhances the supply of competent entrepreneurs through training. EDII facilitates to inculcating the spirit of Entrepreneurship in youth. Several common measures of entrepreneurship are outlined along with their relevance to developing countries, including self-employment.

KEYWORDS: Entrepreneurs, economic development, Entrepreneurs perspective, EDII,GIDC.

INTRODUCTION The role of entrepreneurship in economic development is the subject of much interest to academic and policy circles alike. Entrepreneurship is often credited with many positive changes in developing countries. At the very least, it is associated with job creation, wealth creation, innovation and its related welfare effect. Entrepreneurship development is an organized and systematic development. Entrepreneurship development has now days become extremely important in achieving the goals of all round development in the country. The objective of entrepreneurial development is to motivate a person for entrepreneurial career and to make him capable of perceiving successfully opportunities for business enterprises. Past experience has shown that industrial promotion by provision of facilities, technical assistance, management training, consultancy, industrial information and other services alone are not sufficient to develop entrepreneurs. It was concluded that the focal point should be aimed at the overlooked entrepreneurial spirit and entrepreneurial characteristics of the people to be developed. The Entrepreneurship Development packages were therefore, launched.

Entrepreneurship is back bone of economic development and development of entrepreneurship for any country is based on how government facilities, motivates and provides proper environment to the entrepreneurs for entrepreneurship. Formation of State level body like GIDC, MIDC, RIDC etc. have great impact on the development of entrepreneurship in India and to motivate and instigate the people to become entrepreneur, EDII was set up by the government in 1983. But up to what mark both the institutes are successful and how the present entrepreneurs are satisfied with the assistance provided by EDII will be useful study for the government. The main objective of this study is to examine the impact of EDII for the entrepreneurship development in Gujarat State.

Entrepreneurship is required to identify and utilize indigenous entrepreneurial potential. There is dearth of local entrepreneurs, potential is unexploited, agencies wait for entrepreneurs to come forward but hardly any effort is taken to identify and nurture new entrepreneurs. Entrepreneurship Development approach can improve this situation. It also accelerate industrial developments, Entrepreneurship Development can enlarge the pool of entrepreneurs particularly by diversifying sources of entrepreneurship.

Man behind the project is not given due Importance in project financings. Entrepreneurship Development will help to improve assessment of the person and it will help financial institutions to get better selected and prepared entrepreneurs. Quality of loan applications can improve with Entrepreneurship Development because of better counseling inputs.

Entrepreneurship Development for various target groups can create employment opportunities and thereby surplus labor force as well as avenues for productive self employment can be exploited. This will reduce the acute unemployment problem. Entrepreneurship Development approach can help in diversifying entrepreneurial interest from agricultural and allied areas to industrial sector. It encourages manufacture of local products and to control imports, competent local entrepreneurs are needed. Entrepreneurship Development can prepare such persons. Dispersal of industrial growth to rural and less developed area are possible trough local entrepreneurship Development.

Literature review
Schumpeter In Schumpeter (2012), an entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation.[6] Entrepreneurship employs what Schumpeter called "the gale of creative destruction" to replace in whole or in part inferior innovations across markets and industries, simultaneously creating new products including new business models. In this way, creative destruction is largely responsible for the dynamism of industries and long-run economic growth. The supposition that entrepreneurship leads to economic growth is an interpretation of the residual in endogenous growth theory and as such is hotly debated in academic economics. An alternate description posited by Israel Kirzner suggests that the majority of innovations may be much more incremental improvements such as the replacement of paper with plastic in the construction of a drinking straw. For Schumpeter, entrepreneurship resulted in new industries but also in new combinations of currently existing inputs. Schumpeter's initial example of this was the combination of a steam engine and then current wagon making technologies to produce the horseless carriage. In this case the innovation, the car, was transformational but did not require the development of a new technology, merely the application of existing technologies in a novel manner. It did not immediately replace the horsedrawn carriage, but in time, incremental improvements which reduced the cost and improved the technology led to the complete practical replacement of beast drawn vehicles in modern transportation. Despite Schumpeter's early 20th-century contributions, traditionalmicroeconomic theory did not formally consider the entrepreneur in its theoretical frameworks (instead assuming that resources would find each other through a price system). In this treatment the entrepreneur was an implied but unspecified actor, but it is consistent with the concept of the entrepreneur being the agent of x-efficiency. Different scholars have described entrepreneurs as, among other things, bearing risk. For Schumpeter, the entrepreneur did not bear risk: the capitalist did. Knight and Drucker For Frank H. Knight[7] (1921) and Peter Drucker (1970) entrepreneurship is about taking risk. The behavior of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea, spending much time as well as capital on an uncertain venture. Knight classified three types of uncertainty.

Risk, which is measurable statistically (such as the probability of drawing a red color ball from a jar containing 5 red balls and 5 white balls).

Ambiguity, which is hard to measure statistically (such as the probability of

drawing a red ball from a jar containing 5 red balls but with an unknown number of white balls).

True Uncertainty or Knightian Uncertainty, which is impossible to estimate or predict statistically (such as the probability of drawing a red ball from a jar whose number of red balls is unknown as well as the number of other colored balls

The acts of entrepreneurship are often associated with true uncertainty, particularly when it involves bringing something really novel to the world, whose market never exists. However, even if a market already exists, there is no guarantee that a market exists for a particular new player in the cola category. The place of the disharmony-creating and idiosyncratic entrepreneur in traditional economic theory (which describes many efficiency-based ratios assuming uniform outputs) presents theoretic quandaries. William Baumol has added greatly to this area of economic theory and was recently honored for it at the 2006 annual meeting of the American Economic Association.

Objectives The objectives of the training programme are :

to develop a spirit of `enterprise' among participants. to make them aware of their latent entrepreneurial potential and render them capable of innovating. to ensure that the entrepreneurial vision resulting in creation of an enterprise is not only sustained but is also further developed. to help develop intrapreneurial leadership style among participants.

to motivate them to become achievers within the organisation

LIMITATION OF STUDY:

1. The study is based on those entrepreneurs who started their business in GIDC Premises only. 2. The study is based on selected districts of Gujarat only. 3. The study is based on the business related problems which are faced by the some entrepreneurs from GIDC only. 4. The study is based on the role of EDII for the development of new entrepreneurs only. 5. The sample size prefixed for the research study was around 261 industrial units in Gujarat which are limited concerns. 6. Time, finance and co-operation factors of entrepreneurs may restrict this study.

CONCLUSION

In the evaluation of this research topic, referring the books, and articles on the entrepreneurship, we strongly feel that entrepreneurship is an elusive concept, entrepreneurship is used in various ways and various senses. Definition of entrepreneurship and the process of Entrepreneurship have undergone with the changes and we are very much confident that it will continue in future.

Entrepreneurship has contributed towards overall development of our country.

Entrepreneurship helps to fulfill our basic economic objectives like employment, new opportunities of employment, new modern techniques for production, development of industries in interior, rural, backward areas of the country. Analyzing this topic we can say that the government of Gujarat plays an important role for the development and the promotion of Entrepreneur through industrial policy.

REFERENCES

Books 1) Acs, Z., S. Desai, and L. Klapper (2008). What Does Entrepreneurship Data Really Show?. Small Business Economics, 31 (3): 265-81. 2) Khanka S.S. (2000), Entrepreneurial Development, Himalaya Publishing House, New Delhi. 3) Zuin, V. (2004). Business Strategies of Informal Micro-Entrepreneurs in Lima, Peru. ILO Discussion Paper 150/2004. Geneva: ILO. Journal and other articles 1. EDII : Annual Reports 4) Economic Survey 2008-09, GOI, Ministry of Finance, Economic Division, Website: 1. www.ediindia.org 2. http://www.slideshare.net/xmergnc/startup-change-the-world-guide-for-young-socialentrepreneurs