Livelihood

In India, over 4.75 million people join the labour force annually, with about 70% coming from rural areas. Despite this, the labour participation rate has seen a decline, and a significant portion of the population remains multi-dimensionally poor. Entrepreneurship and livelihood development interventions are crucial for accelerating poverty reduction and economic growth. Although there has been notable progress in promoting entrepreneurship and startups, certain challenges remain, particularly for micro-entrepreneurs and women. Access to capital, market channels, mentoring, and peer support are areas that need further development. Despite the perception of ample entrepreneurial opportunities in India, the fear of failure is a significant barrier for many and the ecosystem required to foster successful entrepreneurship is still in the process of development.