3.4 Unlocking Entrepreneurship Potential Through Skills

India’s vast labour force and youthful population present a significant opportunity for economic development. Skill development and entrepreneurship initiatives are essential for leveraging its demographic advantage. In rural India, where employment opportunities are limited, empowering rural youth and women with entrepreneurial skills boosts self-reliance, creates local enterprises, generates income, stimulates local economies, and reduces the dependency on urban migration for livelihoods. This, in turn, contributes to national economic growth.

The LEDP (Livelihood and Enterprise Development Programmes) and MEDP (Micro- Enterprise Development Programmes) initiatives of NABARD focus on empowering rural communities, particularly women and marginalised groups, through skill development, entrepreneurship and linking participants with sustainable livelihood opportunities. LEDP provides not only skills but also backward and forward linkages, such as access to raw materials, financial credit, and market linkages. This ensures that participants can successfully transition from learning to earning, with continuous support. On the other hand, MEDP provides short-term, focused training programmes tailored to specific skills required in local contexts, like food processing, tailoring, and crafts. This approach allows quick results, enabling participants to immediately apply their skills and start small-scale businesses. The adaptability to local needs makes MEDP highly effective.