The document discusses the role of entrepreneurs in economic development. It defines an entrepreneur as someone who creates new jobs and opportunities through innovative ideas and products. Entrepreneurs contribute to economic development in several ways, such as creating wealth and sharing it through new businesses, generating employment, promoting regional development, increasing GDP and per capita income, raising living standards, enabling exports, and spurring community development through infrastructure and education. Several successful Indian entrepreneurs are highlighted such as the founders of Flipkart, Paytm, Ola Cabs, and Patanjali Ayurved.

1. Role of Entrepreneur’s in Economic
Development

2. WHAT IS ENTREPRENEUR??
 Entrepreneur is a person who takes initiative or one who come
up with an idea that helps to create new jobs, encourage
society and disperse wealth because of new products or
services that are introduced into the market. This gives great
impact to each and every individual as some ways or the
other, we all get correlated.
 For example, with the introduction of Uber rides it gave great
impacts on an auto rickshaw and local buses whereas millions
of people got job car driver to make that Uber ride possible.

3. ECONOMIC DEVELOPMENT
 Economic Development is a process in which all efforts
are made to increase national income, national output,
per capita income , per capita output and standards of
living of people by exploiting all the available resources of
country.

4. ROLL OF ENTREPRENEUR IN ECONOMIC
DEVELOPMENT

5. 1. WEALTH CREATION AND SHARING
 By establishing the business entity, entrepreneurs
invest their own resources and attract capital (in the
form of debt, equity, etc.) from investors, lenders and
the public. This mobilizes public wealth and allows
people to benefit from the success of entrepreneurs
and growing businesses. This kind of pooled capital
that results in wealth creation and distribution is one of
the basic imperatives and goals of economic
development.

6. 2. CREATE JOBS
 Any business start-up requires human resources that could
fulfill the demand of the company thereby making earning for
them self. Thus it’s very much important for an entrepreneur to
seek a maximum number of employee to work that could help
each other in vice –versa manner. Hence it’s proven that with
each new startup by entrepreneur more and more people will
get employed.

7. 3. BALANCED REGIONAL DEVELOPMENT
 Entrepreneurs setting up new businesses and industrial units
help with regional development by locating in less developed
and backward areas. The growth of industries and business in
these areas leads to infrastructure improvements like better
roads and rail links, airports, stable electricity and water
supply, schools, hospitals, shopping malls and other public
and private services that would not otherwise be available.

8. 4. GDP AND PER CAPITA INCOME
 India’s MSME sector, comprised of 36 million units that
provide employment for more than 80 million people, now
accounts for over 37% of the country’s GDP. Each new
addition to these 36 million units makes use of even more
resources like land, labor and capital to develop products
and services that add to the national income, national
product and per capita income of the country. This growth
in GDP and per capita income is again one of the
essential goals of economic development.

9. 5. STANDARD OF LIVING
 Entrepreneurs raise the standards of living of people by
providing them new, better and improved product. They
supply goods having additional features at reasonable
prices. They also remove scarcity of essential
commodities and introduce new products which lead to
variety in consumption.

10. 6. EXPORTS
 Any growing business will eventually want to get started with
exports to expand their business to foreign markets. This is an
important ingredient of economic development since it
provides access to bigger markets, and leads to currency
inflows and access to the latest cutting-edge technologies and
processes being used in more developed foreign markets.
Another key benefit is that this expansion that leads to more
stable business revenue during economic downturns in the
local economy.

11. 7. COMMUNITY DEVELOPMENT
 Economic development doesn’t always translate into community
development. Community development requires infrastructure for education
and training, healthcare, and other public services. For example, you need
highly educated and skilled workers in a community to attract new
businesses. If there are educational institutions, technical training schools
and internship opportunities, that will help build the pool of educated and
skilled workers.
 A good example of how this kind of community development can be promoted is Azim
Hashim Premji, Chairman of Wipro Limited, who donated Rs. 27,514 crores for promoting
education through the Azim Premji Foundation. This foundation works with more than
350,000 schools in eight states across India.

12. NEW INDIAN ENTREPRENEUR’S
 Sachin Bansal & Binny Bansal ( Flipkart )
o Vijay Shekhar Sharma ( Paytm )
Sachin Bansal and Binny Bansal launch an e-
commerce website retailing books in October
2007. Today, the near-20% stake they hold,
along with the top management and company is
valued at around US$16Bn. ( source: CB
insights )
Initially, they had spent ₹ 400,000 only for
making website to set up the business.
Vijay Shekhar Sharma is an Indian entrepreneur and
founder of Paytm. Sharma was born in Aligarh, UP in a
modest family.
Paytm’s current value is a little over $3 billion in the market
in 2016, a dream dreamt when he was struggling to make
ends meet with Rs 10 in pocket. But he tasted victory the
hard way. Nothing came easy for him.
He has also given 4% of his equity to the team, which in
current value terms is about $120 million

13.  Bhavish Aggarwal ( Ola Cabs )
 Bhavish done B. Tech in Computer Science from IIT, Bombay. Worked in
Microsoft Research, Bangalore for 2 years, right after college.
 While trying to chase his dream of entrepreneurship, he started an online
holiday and tour planning service on the side, before changing that into
OlaCabs on 3 December 2010 by Bhavish Aggarwal (currently CEO) and
Ankit Bhati founded the company.
 Ola was valued at $5 billion as of September 2015.

14.  Baba Ramdev and Acharya Balkrishna(PATANJALI)
 In 1995, Ramdev was a little known yoga teacher in Haridwar when his close
associate, Acharya Balkrishna, and him set up Divya Pharmacy - under the aegis
of Ramdev 's guru, Swami Shankar Dev's, ashram - to make Ayurvedic and
herbal medicines.
 Thus was born Patanjali Ayurved as a private company in 2006, which has since
rolled out a range of products - in healthcare, hair care, dental care, toiletries,
food and more - at breathtaking speed.