Up to 61 percent of students in India consider entrepreneurship as a way to earn a living, according to a new report.
The Amway India Entrepreneurship Report (AIER) 2017 published by Neilsen also cited “fear of failure” as the biggest obstacle for starting entrepreneurial projects for 71 percent of the respondents.
Amway India surveyed 10,809 final year undergraduate students—6,269 men and 4,540 women across 28 cities, 28 small towns, and students from rural areas across 21 states in India throughout 2016.
In an article on Times of India, Amway President Doug DeVos said, “India is well positioned for an entrepreneurial transformation. The country I already a top 10 global market for us and we’re excited to be part of its future growth.”
Based on the report, students from rural areas are more willing to start their own businesses over students from more urban areas.
The report showed that openness to starting a business was highest in Madhya Pradesh at 47 percent, Gujarat at 56 percent, Bihar at 24 percent, Himachal Pradesh at 23 percent, and Haryana at 21 percent.
The report also found that 80 percent of the students surveyed believed that “entrepreneurial skills” were teachable, and not necessarily inherited.
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