Economic history bears evidences to confirm that entrepreneurship development is a pre-condition for industrial and economic development of any economy. That is why countries world over including India have been emphasizing on entrepreneurship development. Started since 1971, India's Entrepreneurship Development Programme, famously known as EDPs, has by now emerged as a movement and is being adopted by some of the developing countries of Asia and Africa. Realizing that the younger minds are more susceptible to mould and change, entrepreneurship as a subject has been offered in the course curricula right from school level to the higher education. Since the publication of the Seventh Edition of the book titled ?Entrepreneurship and Small Business Management?, some significant changes taken place in the industrial economy of India have necessitated revising the subject matter to make the book, most presumptuous and contemporary.