Entrepreneurship has existed in India for hundreds of Years now. Every small shop owner is an entrepreneur in his own right. Entrepreneurship did not walk in through the door along with the words “Start-ups” “laptops” and “Coffee shop Offices” and “MBA Jargon” .The problem started when the government got greedy post independence and started to tax everything in sight at ridiculous rates. Then comes the licence raj and even movies portrayed industrialist and builders as seedy characters looking to crush the poor. Anybody looking to start a business has to get at least 3-4 permits and needs a CA from day one to navigate complex tax laws and deal with the various departments. Make its simple for people to run companies with anything upto 35-38 employees and see india boom
In India, bureaucrats treat honest entrepreneurs as criminals to extract bribes. If you are Research Company investing heavily on research and development, Income tax department disallows all the risk capital and levies huge taxes. My company accounts are audited every year and disallow all my expenses. They levied 20 lakhs taxes and I have to go to court to win. Even after winning cases and their appeals the IT department giving silly excuses that they can’t find my books for 5 years. Only crony capitalize can survive in India. I am fed-up and moving my company to Singapore.
Till these Ambanis, Mittals, are there, India cannot get real good enterprenaurs. Because , their greed is such that , come what may, they will do anything to grab all the available opportunities as they have ideas to keep the power on hold.