Rural Industrialization through Technology-Based Entrepreneurship

Entrepreneurship:- Entrepreneurs perform a significant share in economic progress and growth and are also important in the course of structural transformation or industrialization, a process minus which development is not conceivable.

Ok now lets discuss about “Rural Industrialization through Technology-Based Entrepreneurship” .Entrepreneurial advancement leads to the rearrangement of resources from the old-fashioned (agricultural) segment to the present (manufacturing) segment.

Emergent renaissance of industrial policy

There is now an emergent renaissance of industrial policy as being essential to overcome a number of market let-downs that impede entrepreneurial advancement in job creation and low-carbon industrial development which hints at an industrial policy where the relationship between government and entrepreneurs (the private sector) is significant.

Disproportionate growth of the economy is one of the key aspects why our nation as well as the state is fronting stark glitches of growth. We still face enormous joblessness and extreme poverty at this time of the period. India, as well as Nagaland, is a land of villages where more than 75% of the population lives in villages.

Moreover, due to the inexperience and not much determination to build up the rural areas, large number of people wanders to the towns and cities in the anticipation of finding a improved prospect. This has poignantly led to more tedious glitches such as evolution of slum areas where people live in unhealthy situation thus leading to the breakout of infections.

Population complications in the urban areas

Immigration has also led population complications in the urban areas. Moreover, agriculture nonetheless being the backbone of the economy, nothing much can be done as lands are restricted and people could not hinge on wholly on agri-business for many reasons beginning from uninspiring government policy and the unpredictable weather conditions which are making the farmers struggle further.

Therefore, the primary need to change all these for better is to close the gap between the rural and urban inequality and this can be prepared by constructing rural areas i.e. villages, established from all facets.

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At the moment, the questions arise is as to what rural entrepreneurship is and to put it humbly, rural entrepreneurs are those who pursue entrepreneurial accomplishments by starting industrial and commercial units in the rural segment of the economy.

Moreover, establishing industrial and business units in rural areas mentions to rural entrepreneurship and it also infers entrepreneurship emerging in rural areas or rural entrepreneurship hint at rural industrialization. Eventually, rural entrepreneurship paves the way for industrialization. Rural industries and business organizations in rural areas usually connected with agriculture and allied accomplishments to agriculture.

KVIC (Khadi and Village Industry Commission)

Conferring to KVIC (Khadi and Village Industry Commission), “village industries or Rural industry means any industry situated in rural areas, population of which does not surpass 10,000 or such other figure which creates any goods or renders any services with or without use of power and in which the fixed capital asset per head of an craftsperson or a worker does not surpass a thousand rupees”.

These are limited details of the rural-based businesses one can commence to stimulate rural entrepreneurship: Agro Based Industries viz., sugar industries, jaggery, oil processing from oilseeds, pickles, fruit juice, spices, dairy products etc.

Growth of rural entrepreneurship

It is exciting that the Government of India in its consecutive five-year plans has been allocating cumulative prominence and backing for the advancement and growth of rural entrepreneurship. However, if the aspirant and present entrepreneurs have no concern in setting up businesses and units in rural areas than the labours of the government goes off futile.

People must comprehend that entrepreneurship in rural sector offers an answer to a lot of problems in rural India which is no longer primitive and secluded. Hence, entrepreneurship in the rural and tribal areas reveals outsized to solve the problems of poor people, joblessness and backwardness of our country Indian economy. Therefore, it is assured that rural entrepreneurship can be an actual means of fast-tracking the process of rural development.

There are several rural enterprises to commence and concurrently can help the economy immensely such as expansion into non-agricultural uses of accessible resources viz., catering for tourists, blacksmithing, woodworking, spinning, etc. as well as diversification into actions other than those exclusively connected to agricultural usage with the use of resources other than land such as water, forests, buildings, available skills and local features.

Innovative groupings

There are also innovative groupings of these resources viz., tourism, sports and recreation facilities, professional and technical training, retailing and wholesaling, industrial applications, servicing, value added and the possibility of off-farm work. Furthermore, there are new usages of land that permit a lessening in the concentration of agricultural production i.e. organic production.

It is imperative that the growth and development of rural industries enable self-employment which fallouts in wider distribution of economic and industrial events and benefits in the maximum deployment of locally obtainable raw materials and labour. This is exactly how rural entrepreneurship can play in bettering the socio-economic situations of the rural people in specific and the country in general.

Appropriate exploitation of local resources

Rural industries aid in the proper use of local resources like raw materials and labour for industrious purposes and thus surge productivity and can also organise rural savings which support in increase of rural funds.

 Employment generation

Rural industries generate large-scale employment occasions for rural people. The basic difficulty of large-scale unemployment and underemployment of rural India can be efficiently attempted through rural industrial development.

 Checks rural migration

The lack of employment prospects, substantial population burden and poverty enforced the rural people to move to urban areas for living. It generates rural-urban disparity. Under these conditions, rural industries help in plummeting disparities in income between rural and urban people and acts as a latent source of useful employment thereby preventing rural people to wander to urban areas.

Nurtures economic development

Rural industrialization promotes economic development of rural areas which limits rural-urban relocation on the one hand and also reduces inconsistent growth of towns and cities, growth of slums, social strains and environmental contaminations etc. on the other.

Earnings of foreign exchange

Rural industries play a significant role in growing the foreign exchange earnings of the nation through export of their products.

Goods of purchasers’ choice

Rural industries containing village and cottage industries yield goods of distinct consumers’ selection and flavour. Jewellery, sarees, artistic products are manufactured to accommodate the wants of diverse customers rendering to their taste, design and choice.

Commercial development

Rural industries encourage entrepreneurial growth in the rural sector by encouraging young and capable entrepreneurs to develop and carry out entrepreneurial undertakings in the rural sector which lastly enable the development of the rural areas.

Imminent Rural Entrepreneurship

The future of entrepreneurship is the impending of the country as it directly interprets as the future of the nation. Seeing the importance being attached to improving the rural economy, planned expanding of farmers’ income and providing urban amenities in rural areas.

It can be safely accept that the future of Rural Entrepreneurship is positive in India and will hinge on on taking tangible steps of creating Rural Management as a discipline in all Indian Universities, making rural placement obligatory for all government doctors at least for 5 years.

Confirming pay-out of loan timely to all rural entrepreneurs by banking system and connecting all nearby cities/ towns with all-weather roads to rural areas, to enable smooth transportation of rural products/ services to urban areas. Rural Technology Parks are getting constructed (NIRDPR, Hyderabad) to show-case accomplishment of rural enterprises.

There is a strong need to start and consolidation of Rural Management institutions for suitable teaching, training, hand-holding, recording and circulating rural entrepreneurship success stories.

Strengthening of National Council of Rural Institutions to function as a national think-tank, deliver policy analysis and response, design development and mentor course materials and Master trainers and eventually serve as a storehouse and clearing house of Rural Engagement/ Rural Entrepreneurship success stories for the whole country must be one of the top primacies of the union government.

Conclusion

Rural Entrepreneurship is not a new thought for India. Indian has been one of the most ancient established rural economies. The village self-rule (gram-swaraj) is an Indian Notion and the need is to reinvent the economic competence.

As India still lives in villages, the way of Indian economic development will be fast-forwarded by Rural Entrepreneurship. Luckily, there is unity of thinking amongst policymakers on this substance at this point of time as the country is fronting severe rural anguish. The current state provides a worthy prospect for rural entrepreneurship to flourish.