Economic policies in India have been changing for addressing policy issues especially for achieving higher growth. Economic stability and economic inclusion are two other major planks in the reform efforts set in motion. In this context, while employment creation is the biggest challenge it has been realized that investment increases productivity but may not create sizable direct employment opportunities. Technology also provides new opportunities not only for indirect employment but also by providing services more efficiently thereby reducing costs and improving competitiveness. Furthermore, this helps in creation of new businesses by innovators and young generation entrepreneurs working independently and pursuing their own dreams and their own logic. ICT sectors are evidence of the diverse and multifaceted businesses that have transformed the economic scenarios in many countries including that of India.

Chinese growth rate in manufacturing sustained for three to four decades is not only a miracle but also evidence of how quickly processes of work can change and have to change for competing in global markets. India is placed in a unique position in-so-far as along with manufacturing and commodity production, we have the youngest and the largest human resource potential. To realize the potential, what is required is innovation and entrepreneurial skills supported by an environment that encourages this. More than 90% of the Indian workforce is employed in the non corporatized informal sector. This sector of small businesses that does not employ large number of workers in one place, are in effect the backbone of the economy. Some new initiatives have been taken by the government aiming to energize and modernize this huge sector of diverse activities. These initiatives have been given the catchy phrase of MUDRA, Start-up India and Stand-up India.

Institutional finance has always been relevant to small businesses. The Indian government has launched the above schemes to encourage and help small entrepreneurs/business meet their financial needs and giving a boost to the economy. They aim to provide an entrepreneurial platform to SC/ST and women entrepreneurs and start-ups with a view to ensuring access to financial services. The mission is to bring about comprehensive financial inclusion of all the households in the country.

MUDRA (Micro Units Development and Refinance Agency) scheme comes as a vision to fund the unfunded and provide support to the small enterprises, mostly in the unorganized sector. This will go a long way in stimulating the growth of MSMEs. The Start-up India and Stand-up India schemes have been started to help people who wish to start/expand/modernize their own businesses. They focus to rejoice the nation’s entrepreneurial character, and generate a strong bionetwork for fostering advancements and new business. However, there is a need to address challenges in creating supportive policies and strategies.

Against this backdrop, this international conference aims to discuss various aspects and issues related to implementation of the Trinity of MUDRA, Start-up India and Stand-up India schemes for the socioeconomic transformation of the country and bring forth some new ideas and practices for empowering and connecting entrepreneurs in and across India.

Main objectives of this conference