Impact Report 2022
Source: GAME – Impact Report 2022
India needs 90 million non-farm jobs by 2030.
Global Alliance for Mass Entrepreneurship has released a report titled ‘Impact Report 2022’. The organization believes in mass entrepreneurship where Indian youth won’t merely be job seekers but job creators as well.
Labourforce participation in India is dismal at 40%. Women’s labour force participation rests at merely 25%. According to the report, India needs 90 million non-farm jobs by 2030. The country has a demographic advantage of 1 million youth turning 18 every month and with 5 million graduates joining the workforce. The growing demand for employment requires a rapid generation of jobs with qualitative wages.
The report defines Mass Entrepreneurship as, “A movement that is inclusive and democratic, encompassing a diverse set of entrepreneurs and enterprises who are formal and growth-oriented. The goal of this report is to consolidate the finding they gathered from the ground and put them into decks to form their Theory of Change. Through it, they want to initiate a country movement of mass entrepreneurs, increase women entrepreneurs in the sector, align education and needs of labour market and create 50 million jobs by 2030.
Following are the interventions they aspire to conduct to meet their goals.
Students lack exposure to entrepreneurship and hence the organization has created an Entrepreneurial Mindset Curriculum to inculcate the mindset throughout their schooling days. This is done by a collaborative approach where the stakeholders also take an active part in building this mindset. Currently, this curriculum is implemented in Delhi Government School and it is run on a pilot basis by Andhra Pradesh Government.
The goal is to create spatial hubs of entrepreneurship that provides support and nurture growth and innovations. Workshops are conducted to support peer learning and to enable networks required for collaborations, The session works on developing 3C (Cash, Customer, Capacity) and improving leadership competencies. They envisage increasing the growth of enterprises, increasing job creation, and activating the local ecosystem. The sessions were conducted in Bengaluru and Ludhiana.
Their goal is to create a conducive climate to ensure ease, speed, and transparency in the regulatory landscape to foster a strong culture in MSMEs. Their focus is to reduce the compliance burden through digitizing – rationalizing – decriminalizing strategies and building government capacity. The expected outcomes through this caveat are to institutionalize reforms through state governments and reduce the compliance burden on MEMEs thereby enabling them to job creation.
Through these enablers, the organization has submitted a report on the ‘National Entrepreneurship Mission’ to NITI Aayog that has a blueprint of recommendations to address existing issues and actionable solutions. The organization is trying to find the bottlenecks existing in the system to provide an infrastructure that is conducive to thriving entrepreneurship. The report aspires to create 90 million non-farm jobs by 2030.