India’s deep entrepreneurial spirit still reigns free in helping to boost local economy and exchange traded funds (ETFs).

Innovative ideas have evolved and enterprises shortlisted in competitions to find hot start-ups are being conducted by groups such as the National Entrepreneurship Network (NEN), which promotes the enterprising spirit in India’s youth, according to Economist.

In India, funding groups only invest in 1%-2% of potential start-ups where rejection is mainly due to lack of managerial experience within the start-ups. Managers are preferred to have 5 to 7 years of experience, but there may be room for learning for the zealous entrepreneurs prepared for the long term.

India’s deep entrepreneurial traditions were epitomized by merchant communities that made money on the go. But the a new generation of entrepreneurs try to emulate current inspiring figures of the enterprising spirit.

Highly educated Indians are showing a growing willingness and enthusiasm for entrepreneurship. They have turned their backs on the conventional careers in brand-name companies to strike it rich on their own. With an adaptive enterprising will, the Indian economy may see the fruition of start-ups.

Meanwhile, global consultancy firm Deloitte has said India’s economy should rebound faster than other nations when an economic recovery begins. While it’s tough to call exactly when that will be, the firm says consumption trends in India make it certain that it will be among the countries that recover quickly, reports the Economic Times of India.

• PowerShares India Portfolio (PIN): down 47.9% since its March 5 inception

• WisdomTree India Earnings (EPI): down 54% since Feb. 26 inception

Tags: Asia, Emerging Markets, EPI, India, PIN