IIM-A and Tianjin University of Finance conducted a study to see if they could get to the root of the growth in India and China.

1.  SMEs – Small and medium sized enterprises is the answer. SMEs were responsibile for about 60% of China's industrial output and employ about 75% of China's workforce.

2.  Attitudes toward entrepreneurship – 63% of Indians see entrepreurship as a favorable activity compared to 59% of Chinese.

3.  Government support and economic environment in the state which encourage entrepreurship. Progressive governments make it easier for companies to start up – the IT industry in Bangalore and Hyderabad are examples.

China and India's governments now encourage entrepreneurship. More than half of all people in each country see starting a company as a good thing. Add those together with some luck and hard work…business will grow.

What do you think?

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