What are the important objectives of entrepreneurial development programme in India ?

The Industrial Service Institute (ISI) under the Department of Industrial Promotion (DIP) launched Entrepreneurship Development Programmes (EDPs) to give substance to the Government’s policies for stimulation of economic growth, dispersing industries to rural areas and promoting the processing of local raw materials. The programme had sought to develop and improve entrepreneurial skills and behavioural adjustment needed to go through the stresses of initial stages. The EDP was considered as a part of the Industrial Policy which was articulated in the Five Year National Economic and Social Development Plans, with the following important objectives:

i. To identify and train potential entrepreneurs.

ii. To motivate the entrepreneurial instinct.

iii. To develop necessary knowledge and skills among the participants.

iv. To help in analysing the various options to select the most appropriate product suiting to the entrepreneur and the market.

v. To give a clear picture about the process and procedures involved in setting up an small scale Industrial unit or a bigger unit.

vi. To develop and strengthen entrepreneurial quality and motivation.

vii. To impart basic managerial skills and understandings to run the project efficiently and effectively.

viii. To analyst the environmental issues to be addressed relating to the proposed project.

ix. To develop various business related skills of marketing, quality management production, distribution and human resource management etc.

x. To make the potential entrepreneurs know about the possible risks and failures of the project and make them learn how to overcome these problems.

xi. To enable the entrepreneurs to communicate clearly and effectively.

xii. To develop team building, technology up-gradation, growth and above all broad vision about the business.

xiii. To develop a passion for integrity, honesty and industrial discipline.

xiv. To make him learn the basics of Industrial Laws, Factories Act and workers rights and expectations so that he can easily overcome the legal problems.

xv. To formulate the detailed Project Report.