Bridging Knowledge and Innovation: Strengthening Entrepreneurship Literacy for Sustainable Growth in India: A Roadmap for "Viksit Bharat 2047"

Abstract

India stands at a pivotal juncture in its entrepreneurial journey, where a rapidly expanding startup ecosystem coexists with growing concerns around innovation stagnation, overrepresentation of service-sector ventures, and a lack of sustainability-driven, tech-based startups. Despite progressive initiatives like Startup India and the National Education Policy (NEP) 2020, a disconnect persists between policy ambitions and grassroots outcomes. At the core of this challenge lies limited entrepreneurship literacy, particularly among the youth, alongside fragmented support systems and underdeveloped academia-industry-government collaboration. These structural weaknesses threaten to derail India’s goal of achieving inclusive and innovation-led development aligned with the vision of “Viksit Bharat 2047.” The study highlights inadequate integration of sustainability and innovation in entrepreneurship education, poor curriculum design, weak institutional implementation of national policies, and limited outreach in rural and semi-urban regions. To investigate these issues, a mixed-methods approach is adopted including academic leaders, incubator coordinators, and policymakers, along with analysis of policy documents like NEP 2020, Government reports, and global models of innovation-driven education. The findings reveal that students have limited exposure to sustainability principles, lack access to entrepreneurial mentorship, and are rarely encouraged to pursue innovation-led ventures. Regional disparities and underutilization of institutional frameworks further hinder inclusive growth. To address these challenges, the study proposes a framework to national entrepreneurship curriculum rooted in NEP 2020, emphasizing digital literacy, vocational training, and entrepreneurial thinking. It highlights the need of revitalizing the triple-helix model by enhancing coordination among academia, industry, and government. Establishing regional innovation clusters, localized incubation hubs, and structured mentorship networks will ensure deeper ecosystem penetration. Ultimately, bridging the divide between knowledge and innovation through systemic entrepreneurship literacy and inclusive policy execution is essential to empower youth, foster sustainability, and realize the vision of a technologically advanced, innovation-driven “Viksit Bharat 2047.”