India needs to fill the vacuum of its mid-sized enterprises space
SummaryPolicies that encourage small firms to scale up can drive value creation and enable the economy to take a big leap forward.
When the early 19th century French economist Jean-Baptiste Say described an entrepreneur as one who "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield", he was referring to a critical aspect of any economy. In catering to market demand by combining capital, labour as well as natural resources and creating value, entrepreneurship spurs innovation, and enables an economy to take a quantum leap in terms of overall growth and development. Entrepreneurship leads to the creation of an innovation ecosystem that becomes an engine of growth.