ABSTRACT:

In the present economic scenario no country can afford to slow down the pace of its economic growth. The growth of economy business cycle must be in motion, products and services must be purchased. Now the one who can understands the market better will win the race and also contribute to country’s economic growth. Till now we talk about the budding managers that Indian Inc. needs but now comes in picture the emerging people known as entrepreneurs. Entrepreneurs are the one who not only help in meeting their goal but by this way they cater the several needs of society knowingly and unknowingly with their excellent enterprising skills. With the increase of entrepreneurship activities all over the world there is a generation of productive and meaningful employment and these employment opportunities are significantly necessary for the emerging economies as they are going to be hub of business activities. Industrial development is based on the entrepreneurial competencies of the people. The BRIC countries (Brazil, India, China and Russia) are the fastest growing economy and among these some also have significant percentage of youth but surprisingly have almost lowest entrepreneurial activities. This paper strives to dig out the facts that what are the opportunities and barriers which hinder the emergence of entrepreneurs and how the knowledge of these economies can help them to open consumer oriented ventures.