The scope of entrepreneurship development in country like India is tremendous.
Entrepreneurship development is the key factor to fight against unemployment, poverty and to prepare ourselves for globalization in order to achieve overall Indian economic-progress. There are ample opportunities in small businesses in India and such opportunities will transform India in the coming future.
Many IIT grads quitting high-profile jobs to start their own cos in the $48-billion food sector
Prasoon Gupta, Manish Goyal, Badal Goel – all graduates from the Indian Institutes of Technology, all with high-paying corporate jobs. Then they gave it all up to get into the food business, setting up individual ventures that form part of the burgeoning $48 billion food service business in India. In February, IIT Roorkee graduate Gupta quit his five-year-old venture Tech Buddy Consulting and founded a new eating concept in Delhi that caters to more than 300 people daily.There are scores of others who have made food their business. Pushpinder Singh, who has a masters in computer science from BITS Pilani and a BTech from IIT, has launched Travelkhana, which delivers food to railway passengers and has funding from Google India head Rajan Anandan. Chaayos, an NCR based chai cafe which serves more than 25 varieties of tea, competes with established coffee outlet.
India tops optimism rankings
Indians are the most optimistic consumers, overtaking Indonesians. According to Nielsen, consumer confidence in India increased by seven points in the second quarter of 2014 to 128 points, surpassing Indonesia at 123 points. The Philippines, at 120 points, ranked third. Nielsen’s consumer confidence findings ranked Portugal and Slovenia as the most pessimistic markets. Consumer confidence remained flat in China (111), declined eight points in Japan (73), declined three points in Germany (96), increased one point in France and increased three points in the UK from the first quarter. Regionally, confidence was highest in the Asia-Pacific region, which held steady from the first quarter with a score of 106 followed by North America (103) and Europe (77).
Tea Goes the Online Retail Way: Not only are the big players but young entrepreneurs also trying to change the game
Goodwyn Teas’ Rohan Sirohia, 29: Develops herbal teas for the wellness and hotel industry. Beveragewala’s Manish Hada, 29: Makes teas from dispersed makers available on one site. With India consuming 75-80 per cent of its own produce and exports being unable to keep up with the competition from Kenya and Sri Lanka, local tea producers and marketers have traditionally focused their energies on catering to domestic demand. The domestic market is witnessing two trends. While big players like Hindustan Unilever (HUL) and Tata Tea are diversifying into wellness teas like white and green, smaller players are reaching out to a niche market through online retailing of gourmet blends, and faster delivery of high-quality tea. It’s not just young entrepreneurs who are trying to change the game. In May 2014, Golden Tips Global Ltd, which owns the brands Nathmulls and Kho-cha, launched its first online retail store, World Tea Room. It offers more than a hundred gourmet leaf tea blends sourced from Vietnam, China, the US, Japan, Egypt, Germany and South Africa along with rare Indian blends. It perhaps because even 5 per cent of India’s annual consumption figure of 1,200 million kg works out to be 60 million kg. Even though CTC (cut, twist and curl) tea controls 80 per cent of the market, speciality teas are growing at the rate of 25 per cent annually.
Aap Ki Pasand, 33 year old family-run tea boutique in Daryaganj, New Delhi, has a similar story to tell. It has been supplying its blends to 7, Race Course Road and Rashtrapati Bhavan for the last 22 years and is now expanding into the online retail space under the guidance of Nikhil Kapur (30) and Suhail Kapur (27). The brothers inherited the business, along with its definitive elite clientele, from their father a few years ago. Under the brand name San Cha, the company is a registered tea auction buyer, which is an exclusive and restricted list with the Tea Board of India. Kolkata based Rohan Sirohia’s family owns 9,000 acre of Assam’s plantations that has been supplying teas to mass retailers like Tata and HUL since 1987. Sirohia converted five per cent of his family business into brand Goodwyn in 2011. The brand now retails online and through 800 retail outlets in Bangalore, Hyderabad, Delhi and Chandigarh. It also supplies to more than 50 hotels, cafe chains, IT and pharma companies. Meanwhile, in Gurgaon, management graduate Manish Hada has started Beveragewala.com with his wife Puja, with the express purpose of making a variety of teas available to clients on a single portal. In Siliguri, Kaushal Dugar’s e-commerce startup Teabox is steaming ahead. In March, Dugar raised $1 million funding through Accel Partners. Teabox set out to change this by opening up sourcing centres in Siliguri and Guwahati, cutting out the middle men and identifying efficient service providers to deliver the products intact and within a minimum time frame. Today, the company ships to 75 countries and focuses on robust packaging techniques. The company retails 165 single estate teas, the largest collection with any brand in the world. Who cares about coffee beans, when there are tea leaves waiting to be whiffed.(Source:http://www.newindianexpress.com/business/news/Tea-Goes-The-Online-Retail-Way/2014/07/27/article2350074.ece )
The scope of entrepreneurship development in country like India is tremendous. However, it is appreciative that the current generations of youth do not have hang-ups about the previous legacy and are willing to experiment. These are the people who will bring about entrepreneurship in India.