Encouraging management graduates to pursue entrepreneurship, Bibek Debroy, Chairman of the Prime Minister’s Economic Advisory Council, on Friday highlighted the need for educational institutes, including B-schools, to promote skills required for entrepreneurship.

According to him, a small farmer or a street vendor showed more entrepreneurship skills than a corporate. While entrepreneurship cannot be taught, but the skills required for developing entrepreneurship can be imparted, he said.

The Indian education system, which lays a lot of emphasis on rote learning and fetching marks in examination, may not be favourable for developing entrepreneurs, he felt, and added that nearly 95 per cent of the entrepreneurial attempts fail, not just in India, but worldwide.

“Entrepreneurship requires huge risk taking capability; you cannot encourage success (in entrepreneurial ventures) without meeting failure or taking risks. But the Indian education system is such that right from the day a kid joins kindergarten, he is told his job is not to reason or question why, but simply mug up and pass the examination,” Debroy, a Member of Niti Aayog, said while delivering his convocation address at the International Management Institute – Kolkata here today.

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