The story of real estate mogul Niranjan Hiranandani, 71, is the story of Mumbai. A little bit of the maximum city’s chequered history, its evolution, and its challenges, can be pieced together in the choices that Niranjan, the son of Mumbai’s well-known ENT surgeon Dr Lakhumal Hiranand Hiranandani, made.

In a free-wheeling chat with AKADialog, Dr Niranjan, ranked by Forbes among the 100 richest Indians, shares his entrepreneurial journey, his leadership mantra, and his love for the city of Mumbai.

How do you see the trend of entrepreneurship growing in India? What are the essential factors needed for entrepreneurship to grow in India?

The trend is growing, especially with some of the Prime Minister’s initiatives creating an eco-system conducive to entrepreneurship. Policy decisions also support the trend. The most important change is in academic systems, which no longer churn out job seekers, instead create a foundation for self-employment and business activities.
Autonomous academic institutions offer tie-ups with global academic majors, enabling better skill-sets in the human resource that graduates. Re-skilling and further skilling have grown over the past few years, and the results are visible in form of numbers of youngsters who opt to become entrepreneurs.
Funding is not as difficult as it was earlier, and the situation for a new entrepreneur has improved – although much more can be done. Things have improved from what was the scene say, a decade ago. One looks forward to more such options which will make an entrepreneur’s journey that much easier.
The essential factors needed for entrepreneurship to grow in India are the same as anywhere else in the world. There is need for right sort of academics; an eco-system which promotes entrepreneurs, legal and regulatory set up which does not hinder growth prospects, funding options and the most important, enhanced ease of doing business. It works for the world; it works for India too.