International Journal of Innovative Technology and Exploring Engineering (IJITEE) ISSN: 2278-3075, Volume-8 Issue-11, September 2019 4173 Published By: Blue Eyes Intelligence Engineering & Sciences Publication Retrieval Number K18100981119/2019©BEIESP DOI:10.35940/ijitee.K1810.0981119 Developing Policies for Indian Entrepreneurs Vivek Mishra, T K Jain Abstract: Now a day’s term entrepreneurship not a new term for this world, everyone has seen its magic, effect not only in India but all over the world. This paper contributes the effects which entrepreneurship (Lundstrom and Stevenson (2005) has on improving economic conditions of country and what all the fields left yet where future research can be done. It also helps in explaining meaning of entrepreneurship policy, its effect on economy and how a government should create a policy so it can help entrepreneurs policy to grow. Key words: Policy entrepreneurship; Indian entrepreneurs; Business in India. I. INTRODUCTION Entrepreneurship is considered to be a dimension of strategic posture. This involves firm’s risk taking capacity, its ability to be competitively aggressive, proactive manners, and products innovative. There are many factors which effects entrepreneurship in India. Firstly, external variable which includes, environmental dynamism, environmental hostility & technological sophistication. Secondly, internal variables which includes top management values, organisational resources, organisational culture and resources. (Vivek Mishra, 2016) Except these roles of government taxes, sponsorships, grants and government policies play important role in growth of entrepreneurs in India. Entrepreneurship and small business development are central core of economy of particular country which are giving its entrepreneurs a keen interest and better chance of an improved economy. In acknowledgement of the need for entrepreneurship policies, many countries have executed both general and specific policies to promote entrepreneurial activities. General policies such as tax rates, labour laws, and market regulations have molded the entrepreneurship environment to a great extent in different economies. Also, some important policies have been specially beleaguered to enhance entrepreneurship. For instance, the Small Business Innovation Research (SBIR) program established in America elevated the survival and growth rates of SMEs in the region (Gilbert, Audretsch, & McDougall, 2004). In Europe, the Department for Trade and Industry (DTI) develop policies to promote entrepreneurial activities and encourage SMEs to trade internationally (Wright, Westhead, & Ucbasaran, 2007). In field of business, policy entrepreneurship involves people taking risk in order to create new business ventures, to gain advantage of their competitors, and to maximize their profits. The term policy entrepreneur may refers to someone who found new business /policy project, or a businessman who seeks to gain profit through subsidies, protectionism, government contracts or other such favourable arrangements with government through personal influence (also known as rent seeker). Revised Manuscript Received on September 07, 2019 Vivek Mishra, Research Scholar, Suresh Gyan Vihar University, Jaipur, India. E-mail: dr_vivek_mishra@yahoo.com T K Jain, Suresh Gyan Vihar University, Jaipur, India. everyone has not only recognised its magic but also seen long lasting positive effects on economy of countries. On one hand, where it has given income to nationalised banks and international banks , by enjoying interest on loans taken by entrepreneurs for developing industrial set- ups , on the other hand ,it provides job to labours , small merchants ,non professional (Ketz,2003) and professionals in factories and industries. Not only entrepreneurs but government of different states and cities are taking interest in promoting entrepreneurship (Shane & Ventakaraman, 2000). Governments are busy in finding relationship between growing entrepreneurship and improved socio-economic conditions. There are many countries like Australia, America (Isenberg,2010) and Canada, Israel (Senor & Singer,2009) which have proved giving enhancement to local vendor ships and entrepreneurs through policy makings has given direct positive impact on their economic and financial growth. Entrepreneurship policy can be described as policy which helps in starting a start-up, helps to continue it and motivate entrepreneur (Lundstrom & Stevenson, 2005) to bring good results as end result for process of entrepreneurship. It should not only help in economic development of people but should also help in promoting skills, opportunities and growth in their life. Not only policies help in promoting entrepreneurships but its self motivation of individual persons, which plays a big role in getting success, you need skills, motivation, local personal network to utilize advantages of policies . Now budding nations like India are planning to promote entrepreneurships, but still they lack knowledge about how to create policies which help in promoting entrepreneurships. In this paper, we will try to focus on areas which are require to highlight to promote entrepreneurship (Vivek Mishra,2018) in developing nations like India . Step 1. By promoting MSME (Micro, Small and Medium Enterprises) A) By encouraging and helping small firms to promote their business , through proving them a common platform for regular meet ups as held in New Delhi every year in Pragati Maidan. Sometimes, by organising small get together like expo (exhibitions) in big cities like Jaipur. B) By providing them environment for R&D, helping small firms in adopting new technologies. C) Giving them some or other kind of financial help. Step 2. By creating entrepreneur friendly policies.... A) By giving entrepreneurs , tax free lands , for developing industries , B) Giving electricity at reduced cost , C) Giving free insurance coverage to labourers and their children who are working under such entrepreneurs