Harnessing Indian knowledge systems for entrepreneurial innovation: Sustainability, ethics, and digital transformation

Entrepreneurship in the 21st century demands innovation, ethical leadership, and sustainability. While global business models are shaped by systematic frameworks, the Indian Knowledge System (IKS) offers a holistic model rooted in ethics, frugal innovation, and inclusive growth. This paper explores the integration of IKS into entrepreneurial learning and practice, emphasizing principles derived from ancient scriptures such as the Arthashastra, Upanishads, and Bhagavad Gita. Through case studies on communities like the Marwaris, organizations such as the Tata Group, Patanjali Ayurveda, Fabindia, Jaipur Rugs, and grassroots innovators like Mitticool, the study demonstrates how IKS informs contemporary business practices. Recent developments, including India’s National Education Policy (NEP 2020) emphasis on IKS, the Ministry of Education’s IKS Division initiatives, and startups in Ayurveda, organic farming, and eco-tourism, underscore its practical relevance. The paper analyses challenges such as documentation gaps, global standardization, and technology integration, proposing strategies like IKS-based incubation, digital transformation, and policy interventions. By aligning traditional wisdom with modern tools such as AI, blockchain, and circular economy models, entrepreneurs can create innovative, socially responsible, and globally competitive enterprises. The study concludes that IKS-driven entrepreneurship can serve as a catalyst for sustainable development, ethical governance, and resilience in the digital age.