Entrepreneurial DNA: A New Perspective for India’s Future

Entrepreneurial DNA is essential for India to move beyond its colonial mindset regarding credentials, claims Saurabh Mukherjea from Marcellus Investment Managers. He emphasizes that traditional elite degrees are becoming less relevant in today’s dynamically changing economic environment.

Shifting Focus from Degrees to Skills

In a recent podcast with Bharatvaarta, Mukherjea discussed India’s ongoing obsession with prestigious degrees and elite educational qualifications. He believes this fixation, once deemed crucial for social ascent, has surpassed its effectiveness. He urged listeners to prioritize abstract thinking, creativity, and the ability to articulate ideas rather than merely chasing diplomas.

Colonial Legacy and Its Impact on Mindset

Mukherjea attributes this credential obsession to India’s colonial history. According to him, the British instituted a civil service and fostered a clerical class, setting a precedent for post-independence leadership to adopt a bureaucratic system focused on cultivating compliant employees rather than risk-taking entrepreneurs. He noted that the educational system has conditioned individuals to become suitable candidates for large businesses, a landscape that no longer exists.

The Necessity for Structural Change

This transformation from a workforce to an entrepreneurial society is not merely optional; it is essential. Mukherjea highlights that employment, as a concept, emerged only about 200 years ago, whereas India was once a thriving entrepreneurial society. “To thrive, everyone will need to embrace entrepreneurship, whether willingly or out of necessity,” he asserted.

Understanding Pre-Colonial Economic Vibrancy

Mukherjea referenced historian Lakshmi Subramanian’s work, India Before Empire, which illustrates how pre-colonial India operated as a global trade centre, characterised by a robust legal system and low capital costs. He explained that India once boasted a prosperous business community, which was systematically dismantled by colonial influences that instilled a disdain for local entrepreneurship, subjugating it to colonial business interests.

Breaking the Hold of a Disempowering Legacy

While the British may have departed, their detrimental legacy lingers, according to Mukherjea. “They ingrained the belief that a successful life requires white-collar servitude, achieved through memorised learning and qualifications,” he remarked. This mindset has persisted for 75 years but is beginning to fade.

The Rise of India’s Startup Ecosystem

With a flourishing startup environment and a burgeoning generation increasingly inclined to challenge traditional career paths, Mukherjea posits that a reconnection with India’s entrepreneurial roots is not just timely—it is essential. His message to the youth is clear: “Instead of seeking validation through prestigious certificates, focus on creation. Embrace innovative thinking. Own your destiny.”