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The evolution of the entrepreneurial scenario in modern India prior to independence reflects a complex interplay of historical, social, economic, and political factors. Entrepreneurship in India has its roots deep in traditional trade and craft systems that existed for centuries. Indian society was historically organized around guilds and family-run businesses, which ensured the continuity of skills, trade secrets, and market presence. These guilds, known as “Shrenis” in ancient India, were influential in promoting entrepreneurship at a local and regional level. They functioned not only as trade associations but also as educational and financial institutions for artisans and traders, providing credit facilities, training, and guidance for commercial activity. The emphasis was on self-sufficiency, sustainability, and ethical business practices, which laid the foundation for entrepreneurial behavior even before the advent of modern industrialization. During the Mughal period, trade and commerce flourished, especially in textiles, spices, and handicrafts. Indian entrepreneurs were actively engaged in local as well as international trade, establishing connections with European merchants and ____ ______ ___ ________ _____ ___.
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