Tremendous growth: The number of entrepreneurs has doubled in seven years and crossed 7 crores

There has been a tremendous growth in the number of businessmen in the country for the last few years. The special thing is that the number of self-employed has doubled in seven years. In 2016-17, the number of self-employed was 3.61 crores, which reached the level of 7.06 crores in 2023-24.

According to the Center for Monitoring Indian Economy (CMIE), in 2016-17, out of every 100 employed people, 13 were businessmen. In 2023-24, this number has increased to 20. In 2023-24, a total of 42.36 crore people had work. Out of this, 8.66 crore were businessmen.

According to the data, the business structure is now completely different than seven years ago. In 2016-17, small traders and daily wage laborers had a 42.4 percent share in the total workforce. The share of farmers and salaried employees was 21 per cent and 23 per cent respectively. The number of business persons was only 13 per cent in total employment.

20 out of 100 employed people were businessmen in the last financial year, the figure was 13 in 2016-17

According to the report, the share of business persons in the total workforce has increased to 20.4 per cent in 2023-24. The share of small businessmen and daily wage laborers has come down to below 30%. The number of salaried employees also declined. Their share was 21.8 per cent in 2023-24, which has crossed the level before the Corona epidemic.