Innovation And Entrepreneurship Challenges for Sustainable Business Growth for Indian Economy

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Avinash Kumar Mishra, Mudasir Raja, Chandra SS Nanduri
Bishnu Pada Das, Dr. Prashant Mishra, Dr. Indrajeet Ramdas Bhagat


In the context of the Indian economy, this abstract examines the crucial junction of innovation and entrepreneurship as major forces behind sustained economic success. India's economy is developing quickly, and this paper explores the potential and special problems that enterprises looking to grow sustainably confront. The study looks at the changing environment and explores the critical role that organisational and technological innovation plays in promoting entrepreneurship. It looks at the difficulties business owners have when negotiating the complexities of the Indian market, the legal system, and societal norms. The abstract also emphasizes how crucial a sustainable business model is to the long-term expansion and robustness of the Indian economy. Generally speaking, innovation is regarded as one of the main drivers of any nation's long-term, steady economic prosperity. The Indian economy is one of those with the quickest growth rates in this era of globalization. The Indian economy has grown by 7% on average over the last 20 years, but is this growth sustainable or just temporary? uniqueness that is embraced by an expanding data industry and a developing buyer market. It takes innovation to achieve long-term, useful growth. This essay attempts to understand the role that innovation plays in India's economic transformation. India, the world's second-most populous nation with a more moderate topography, needs to maintain the rate of growth of its gross domestic product otherwise it cannot be said that realistic improvement is the foundation of the country. This article aims to conduct a thorough analysis of the developments and potential future directions of startup frameworks in India in order to comprehend the reasons and driving forces behind the inorganic growth of startups in that country.

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Chandra SS Nanduri, A. K. M. M. R., & Dr. Indrajeet Ramdas Bhagat, B. P. D. D. P. M. (2024). Innovation And Entrepreneurship Challenges for Sustainable Business Growth for Indian Economy. European Economic Letters (EEL), 14(1), 499–507.