Emergence of Green Business Engendering New Avenues for Augmentation of Green Entrepreneurship and Sustainable Development through Indian MSMEs
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 10
Abstract
Manifestation of Green slant to the business is prevailing in the contemporary global scenario that provides practical solution for the unprecedented increase in the exploitation of natural and non-renewable resources. The perceptible rise in the levels of environment pollution in the form of emission of poisonous gases, solid/liquid waste and e-waste is resulting in environmental degradation and drastic climate change. Along with this the population explosion and employment challenges are causing severe threats to sustainable life on earth. A paradigm shift in the economy towards a clean technological mission is an eye-opener for sustainable development that can be guaranteed through mainstreaming environment into economic growth. The idea of green business emerged at the close of 20th century by embracing on green spectrum of business operations. Green entrepreneurship in manufacturing and service sectors are striving for sustainable development through different forms of economic activities bringing synergy in growth through maintaining proper equilibrium between rural and urban needs and requirements of local and international communities. Micro Small and Medium Enterprises (MSMEs), one of the key stakeholders in the transition of economies worldwide are great emissaries of sustainable growth as they are run on small scale basis, causing low environmental hitches, concentrating on wide range of products and services especially in the rural and less industrialised areas. The article attempts to bring to light the emergence of green business that is opening up novel avenues for supplementing green entrepreneurship in India. Research methodology consists of use of secondary data drawn from annual reports, journals, magazines, newspapers etc. Findings reveal that green entrepreneurship or ecopreneurship is gaining momentum across India decoupling economic and environmental performances. In addition, it is also adding social values by developing innovative technologies and new fangled business models thereby rejuvenating the prevailing economy. Green entrepreneurship triggers sustainable development by finely-tuning environmental challenges into business opportunities to create environmental value through innovative eco-designs thereby reducing the negative impacts on the environment. The study explores the increasing scope for ecopreneurial talents in young India especially in the State of Kerala where female entrepreneurs are on the rise that can facilitate sustainable, balanced and inclusive development in upcoming years. A number of government initiatives and policies are helping to hasten the growth of green entrepreneurs and more emphasis should be given to the effective implementation and proper follow ups to bring buoyancy in transforming the nation into a green economy.
Authors and Affiliations
Dr. Nisha K. M.
Keywords
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- EP ID EP413054
- DOI 10.9790/487X-2010036377.
- Views 79
- Downloads 0
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