Report shared by IIT Mandi shows the proportion of Indian students who want to start a business after graduation

A report was prepared by IIT Mandi. The report shows that 32.5% of Indian college students are already trying to start their own new businesses, which is higher than the world average of 25.7%. The report was released by a global survey called GUESSS in which India participated. In this survey, students from 57 countries who planned to start a business were studied.

Such proportion of students are interested in business

The report shows that 14% of Indian students hope to start a business after graduation, which is almost the same as the world average of 15.7%. However, after five years, 31.4% of students plan to start a business, compared with the global average of 30%. 32.5% of Indian college students have become new entrepreneurs and actively participate in self-employment. This figure is higher than the global average of 25.7%.

Professor Mandi from Indian Institute of Technology said this According to a PTI report, the GUESSS India 2023 survey was conducted between November 2023 and February 2024 in which 13,896 students from hundreds of higher education institutions across the country participated. “We are already the third largest entrepreneurial ecosystem in the world and have the largest youth population. Harnessing the entrepreneurial potential of the youth is key to our country’s success,” said Pran Singh, associate professor at the Indian Institute of Management, Mandi, the report ’s lead author, “This is important for making progress.”

The report shows that 69.7% of students are looking for a job after graduation, but this number drops to 52.2% after five years, while 31% of students hope to start their own business at this time. The entrepreneurial intention of Indian students is the highest in the world, with an average score of 4.6 points (out of 7 points), which is higher than the global average of 3.7 points. About 38% of students are engaged in self-employment, of which 33% are in the start-up stage. However, only 4.8% have reached the stage of starting to make money, suggesting there is plenty of room for further growth.