According to a report from IIT Mandi, over 32.5% of Indian college students are classified as “nascent entrepreneurs,” actively working on starting their own businesses. This finding is part of the Global University Entrepreneurial Spirit Students’ Survey (GUESSS) India 2023 Report, which highlights growing entrepreneurial aspirations and shifts toward entrepreneurial careers among Indian students. The survey reflects the impact of various policy initiatives in India that are encouraging students to explore entrepreneurship.
The GUESSS India 2023 survey, conducted from November 2023 to February 2024, marks the first large-scale study of Indian students’ entrepreneurial spirit, with nearly 14,000 responses from students at higher education institutions across the country. The report shows that 14% of Indian students plan to start their own businesses immediately after graduation, close to the global average of 15.7%. Additionally, 31.4% aim to pursue entrepreneurship within five years, compared to the global average of 30%.
Dr. Puran Singh, who led the study, emphasized that India’s entrepreneurial potential is significant, given the country’s large youth population and its status as the third-largest start-up ecosystem globally. The report notes that Indian students show the highest entrepreneurial intent globally, with 38% involved in venture creation and 33% at the nascent stage, placing India at the top among global peers in terms of entrepreneurial engagement.
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