Entrepreneurship is the key driver of the country’s economy. It is one of the best means for triggering economic and social development in developing countries like India. It provides employment to huge mass of people and also creates wealth for nation. India is the nation known for its youth population which is considered as its greatest asset, and at the same time, the biggest threat is youth unemployment. Hence, developing entrepreneurial skills among youth is more important for the growth of Indian economy. But surprisingly, youth is attracted less towards entrepreneurship as compared to other professions. This paper focuses on analyzing the entrepreneurial traits in youth and the socioeconomic factors influencing youth entrepreneurship. The paper helps in finding ways for promoting youth entrepreneurship and boosting the growth of the Indian economy as well. The research concludes that the potential of Indian youth is huge which should be properly harnessed and they should be properly channeled to be involved in entrepreneurship with ample support and encouragement from the family, society, government and educational institutions.

Entrepreneurs are the backbone of any economy. Every stable government in the world has kept promoting entrepreneurship as one of the main agendas in its policies and plan document. The new ventures developed through entrepreneurship have been reported to yield a wide spectrum of economic benefits through innovation, generation of new business, creation of new jobs, development of innovative products and services, and have also created the opportunity for future investment in the growth and development activities of the nation. It is by the efforts of entrepreneurs that wealth accumulation takes place in the society. It has been observed worldwide that whenever an economy has shown signs of development, in the background there were enterprising entrepreneurs. Thus, entrepreneurship is the solution to the twin problems of unemployment and poverty in a nation (Dash and Kaur, 2012).

Recently, interest in youth entrepreneurship has been fueled due to high levels of unemployment amongst the young people and as a way to foster self-employment opportunities. Youth entrepreneurship has gained more importance in recent years in many countries with increased interest in entrepreneurship as a way of boosting economic competitiveness and promoting regional development.

Entrepreneurship Development Journal, Promoting Youth Entrepreneurship, India, Perceptions, Entrepreneurship Development Institution, India (EDII), greatest asset, Suggestions.