Exploring Islamic Entrepreneurship: Perceptions, Challenges, and Economic Contributions among Muslims in India

G. Thouseef Ahamed¹ , T. Md. Inthiyaz Ahammed²

1. Dept. of Management, TKR Institute of Management & Science, Hyderabad, India.
2. Dept. of Management, St.Johns College of Engineering and Technology, Yemmiganur, Kurnool (Dist), India.

Section:Research Paper, Product Type: Journal-Paper
Vol.11 , Issue.3 , pp.1-16, Sep-2023

Online published on Sep 30, 2023

Copyright © G. Thouseef Ahamed, T. Md. Inthiyaz Ahammed . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
This research explores the economic difficulties that Muslims in India face which are characterized by their low levels of assets and consumption compared to other religious groups. Despite being a minority, Muslims experience a level of poverty due to factors such as structural barriers, biases, disparities in education lack of political representation and discriminatory housing practices. In this context, Islamic entrepreneurship emerges as an avenue for empowerment, aligned with ethical principles and social impact. This research aims to explore historical roles, challenges, and opportunities in Islamic entrepreneurship, investigating barriers, motivations, and perceptions of prospects. The study also hypothesizes associations between education levels, familiarity with principles perceived challenges and possible opportunities. The findings from a sample of Muslims indicate that Islamic entrepreneurship holds significant importance for them and that there is a moderate understanding of Islamic principles among them. The challenges they face are limited funding, networking, cultural biases, and aligning religious values with business practices. On the other hand mentorship programs and access to resources are less concerning for them. Their motivations vary but include factors such as passion for what they do desire for impact or autonomy in their work life independence as well as community service involvement; however familiarity, with these opportunities varies across individuals. Overall the study highlights how Islamic entrepreneurship can empower Muslims economically while contributing to economic development.

Key-Words / Index Term :
Islamic Entrepreneurship, Entrepreneurial Perceptions, Entrepreneurial Motivations, Entrepreneurial Opportunities, Muslim Entrepreneurs, Entrepreneurial Challenges, Poverty

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