Green Entrepreneurship in India: Global Evaluation, Needs Analysis, and Drivers for Growth

Abstract

Green entrepreneurship must be embedded in the present industrial paradigm to have sustainable growth. The top ranking companies of the world have started turning green through corporate social responsibility and other business drives. It is indispensible for manufacturing, supply chain, information technology, and retail companies to resort to green practices. Thus, the potential of green entrepreneurship in near future is huge, both for new entrants and the established ones. This chapter includes in-depth analysis of positive and negative aspects of starting and running green business. Study has outlaid problems relating to the rigid procedural requirements encountered by the entrepreneur in starting a green venture. A clear picture of prevalent financial scenario viz., the role of venture capitalism, angel funding, and banks is investigated to highlight opportunities for Foreign Direct Investments (FDI) in green sector in India. Government, university, and corporate R&D in the sector have been thoroughly scanned. Technology Business Incubators (TBIs) have been surveyed to find out their contribution to the Green Sector Development in the country. Government policies, programs, and subsidies for green entrepreneurship development have been critically analyzed. Close surveillance has enabled categorization of government procedures and regulations as facilitators/barriers for entrepreneurship. Role of early stage/entrepreneurship/technology education in creating entrepreneurial attitudes for green sector has been evaluated against the global benchmarks. This chapter summates the viewpoints of academicians, industrialists, entrepreneurs, practitioners, and government officials to draw the important conclusions. All the necessary elements, i.e., literature viz. white papers, articles, case studies; instrument viz. surveys, interviews, site visits; analysis viz. statistical analysis, factor analysis have been adopted. This chapter deeply researches the aspects relating to India and it caters broadly to those of some other emerging economies. It has been figured out that there is both lack of support and knowledge about green entrepreneurship. The existing infrastructural and informational gap could be met to great extent by developing a public–private partnership model. Whole some the chapter is full of argumentation, analytics, definitions, comparison and contrast, cause and effect, reports and data, and lastly interpretation to draw the conclusions.

We sincerely acknowledge almighty, our families, friends, and all the respondents. We thank Prof. P.B. Sharma, Vice Chancellor, Delhi Technological University for Knowledge Park infrastructure support and guidance. We also thank SIDBI, IIT Delhi for infrastructure.