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83% of Indian workforce prefer to quit jobs, become an entrepreneur: Survey

Stable business environment, raising of FDI caps, GST, Make in India, Digital India also contribute

Press Trust of India  |  New Delhi 

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Entrepreneurial ambition among the workforce is highest in India, with 56 per cent of respondents in a survey indicating that they are considering leaving current to start their own

According to the Randstad Workmonitor survey, 83 per cent of the Indian workforce would like to be an entrepreneur, higher than the global average of 53 per cent.

"A stable environment, market oriented reforms like raising of caps, implementation of GST, and key initiatives like Make in and are fostering a new aspiring and ambitious Indian," Randstad MD & CEO Paul Dupuis said.

He further said a robust ecosystem driven by aspiring has historically seen higher growth for the formal sector, and has a knock-off effect on the evolution of other companies in the ecosystem.

The workforce in the age group of 45-54 years (37 per cent) are hesitant to start their own as compared to the workforce in the age group of 25-34 years (72 per cent) and 35-44 years (61 per cent).

Around 86 per cent of the survey respondents indicated that the ecosystem to run a startup was favourable in India and 84 per cent said the Indian actively supports new in the country and provides a favourable entrepreneurial climate.

Regarding workplace preference, MNCs are the most favoured employers for Indian workforce as 84 per cent respondents said they prefer to work for a multinational firm.

Around 76 per cent of the workforce from India stated that they would like to work for a startup, whereas 69 per cent indicated that they would prefer to work for a small or or a privately managed company, the report added.

The Randstad Workmonitor covers 33 countries around the world. The study is conducted online among employees aged 18- 65, working a minimum of 24 hours a week in a (not self-employed).

First Published: Wed, August 09 2017. 16:38 IST