Developing Entrepreneurial Competency Among Indian Youths—the Role of Formal and Informal Learning

In the changing employment scenario, entrepreneurs play a major role in the overall development of a country’s economy as they could bring growth in the economy by imbuing dynamism, innovative ideas and newer technologies. The volume of literature and empirical studies conducted elsewhere on entrepreneurship development is inspiring. However, little focus is made to study the engagement of youth in such activities, especially, in a country like India with a rising youth population. A strong link of competency skills to become a successful entrepreneur is well known. Yet, more deliberations to document the roles that the different pedagogics and methods of learning would play and further accelerate the entrepreneurial intentions among youths are crucial. The aim of this paper is to discourse on what would be the needed strategies to build an effective mechanism to integrate education and skill development in general and entrepreneurial skill in India. We have also presented the findings based on the primary data collected from youth in a rural area. The major implications emerged through this paper are that the skill development activities in India need to be further intensified. There is need to motivate the youth and entrepreneurial skills are necessary at every stage in the entrepreneurial path for success. Besides formal learning, the role of informal learning in developing entrepreneurial skills is to be recognised. Blending of formal and informal learning could be central to successful building of entrepreneurial skills among the youths.