How Women Power Can Add 2.4% to India’s GDP

Posted by hgsba on May 2, 2018

Blocking a few exceptions, women entrepreneurs in India are yet to be bracketed as role models and celebrities. But don’t be surprised if this changes fast. India is resting at the cusp of a women entrepreneurship wave. There is a growing set of trailblazers. promocode

Rashmi Sinha, the founder of SlideShare which was acquired by LinkedIn in 2012, was named amidst the uk’s Top 10 Women Influencers in Web 2. zero by Fast Company. Ashwini Ashokan, the founder of Mad Street Den that solves problems using manufactured intelligence; Neeru Sharma, creator of online retailer Infibeam that has revenues operating into millions; Anu Sridharan the founder of NextDrop that lets urban residents track availability of piped water; Sheetal Walsh whoever Shanti Life provides microfinance to slum dwellers to start out businesses and Sairee Chahal, founder of Sheroes that connects talented women experts to career opportunities. The list is ever growing and more impressive each day strengthening the notion that in times to come, women entrepreneurs will hold tremendous influence on India’s economy. 

Fashionable of women taking to entrepreneurship has grown silently. Nevertheless historically speaking, this is a most natural tendency in India where women were popular to rotate out ‘papads’ and pickles – and as much back as 1959 the enduring ‘Lijjat Papad’, an Indian women’s cooperative, was born. Today it uses 42, 000 people and has a turnover of over Rs. 800 crore! With a legacy like that can Indian women not be at the forefront of entrepreneurship?

Relating to a 2015 statement released by BNP Paribas covering US, Europe, Midsection East and Asia, India ranks as the most active country for successful women entrepreneurs. The survey finds that the amazing 49% of entrepreneurs in the country are women and places India in advance of Hong Kong and France, the other two nations that follow India in conditions of lively women entrepreneurs.

The pattern is giving rise to a multiple support systems and accelerators aimed at promoting and sustaining women entrepreneurs. In March 2014, NASSCOM launched Girls in Technology (GIT), an application to ensure that women believe it is much easier to set up internet based technology companies. Lately FICCI launched ‘Swayam’ in Ahmedabad with the purpose of supporting women business people. HSBC India chairman, Naina Lal Kidwai, befittingly chaired this event. These are just two examples of a healthy and attractive ecosystem that is fast falling in destination to incubate and support women business owners in India.

Education and vocational training are the primary drivers for turning the entrepreneurial aspirations of women into reality. Nevertheless there is also socio-economic reasons for driving the transition of more and more women starting businesses as diverse as proper pet care clinics, loan restoration firms, presentation-sharing platforms, wheelchair manufacturing, telemarketing companies, organic care products, publishing, general population relations organizations and learning management systems. Traditional family structures are changing from joint families to atómico families, allowing women persistent voice; the gender difference between men and women has narrowed, enabling women to find feet and unlock their potential; women are taken from kitchens to participate in every walk of life from national politics to medicine and are becoming more visible; they are acquiring the self confidence and self-belief required for becoming a true entrepreneur; and they are capable to network and find funding and mentoring more easily than ever before.

At the end of this trend are federal government schemes and policies that support and encourage women entrepreneurship, rendering it easier so they can develop entrepreneurial skills (through skills development programs) and discover institutional finance, infrastructure and talent. As examples, we now have the Trade Related Entrepreneurship Assistance and Development (TREAD) Scheme provided by the Ministry of Micro, Little & Medium Enterprises (MSME). TREAD provides subsidy up to 30% of project cost and the balance 70 percent as loan to women entrepreneurs. Additionally, there are innumerable schemes launched by banks aimed at women entrepreneurs. Actually the Bharatiya Mahila Bank, which exposed in 2013, and run by Usha Ananthasubramanian — another role model for women in India — focuses on urban and rural unbanked women and helps them establish their businesses.

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