A CONCEPTUAL STUDY ON GREEN ENTREPRENEURSHIP : THE EMERGING PARADIGM FOR SUSTAINABLE GROWTH

Abstract

In an emerging economy like India, it was not, until38, pointed out the growth opportunity at the ‘Bottom of the Pyramid’, most entrepreneurs were skeptical about addressing the entrepreneurial innovations along with environmental concerns on that scale. Green innovation remained an elite word meant for large corporations and well established corporations and as a tool for corporate social responsibility and enhancing reputation. However, with changing consumer behaviour and increasing developments in the education, income and other social index, green entrepreneurship is catching the attention of the newer generation and government and public institutions are playing a positive role in encouraging environmental concerns. The next decade is bound to witness rapid globalization, industrialization, technology deepening in the economy. Resources, being limited, the globe has to find means to reach in a manner which is not detrimental to natural resources and to survival of mankind on this planet. Thus this paper attempts to bridge the gap between green consumers and green entrepreneurs who can play a pivotal role in ushering the much required environmental protection and conservation to the forefront in the Indian context.