Entrepreneurship has emerged as a powerful tool for young people to harness their potential and contribute to the economic growth of a country. In recent years, India has witnessed a surge in entrepreneurship, with numerous startups and small businesses cropping up across the country. This trend has been particularly encouraging for women, who have traditionally been underrepresented in the world of business.
Women entrepreneurship is playing a crucial role in India’s economic growth and development, creating jobs, driving innovation, and bringing about social change. In a country like India, where gender inequality is a persistent challenge, the rise of women entrepreneurs is a game-changer. It enables women to break free from traditional gender roles and make their mark in the business world.
Women Entrepreneurship in India
In recent years, there has been significant growth in the number of women entrepreneurs in India. According to the sixth economic census, there were 8.05 million women-led enterprises in India, which increased to over 13.5 million in 2019, as per a report by Bain & Company and Google India. The report also states that the percentage of women entrepreneurs in India has gone up from 14% in 2014 to 20% in 2019.
Additionally, the government of India has also launched various schemes and initiatives to support and promote women entrepreneurs. Examples of such schemes are the Stand Up India scheme and the Women Entrepreneurship Platform (WEP). India is home to some of the most successful women entrepreneurs who have made a mark in various industries.
Kiran Mazumdar-Shaw, the founder of Biocon, is a leading biotech entrepreneur and one of the richest self-made women in India. Vani Kola, the founder of Kalaari Capital, is a well-known venture capitalist who has invested in many successful startups. Falguni Nayar, the founder of Nykaa, an online beauty and cosmetics store, has become a household name in India.
With fresh opportunities and government initiatives, more and more women are taking up entrepreneurship in India. With time, we can expect many more successful women entrepreneurs in India who will be innovating and starting businesses that will help the country to grow forward. Women are breaking barriers and venturing into diverse fields, such as technology, healthcare, and e-commerce, among others.
Women Entrepreneurship in Rural India
Entrepreneurship is proving to be a boon for rural India, where a large majority of the population lives. It has opened up new avenues of income generation and brought about economic empowerment. Rural women entrepreneurs, in particular, are playing a vital role in starting and running businesses in rural areas. According to a report by the National Sample Survey Office, women constitute nearly 31% of entrepreneurs in rural India.
There are numerous examples of women-led businesses in rural India that have become successful. For instance, Meeta Mastani co-founded a clothing brand called Bindaas Unlimited, which employs women from marginalized communities in rural areas and provides them with a sustainable source of income.
The government of India has also launched various schemes and initiatives to support entrepreneurship in rural areas, such as the Deen Dayal Upadhyaya Swavalamban Yojana and the National Rural Livelihoods Mission.
These schemes are aimed at providing financial assistance and training to rural entrepreneurs. Overall, entrepreneurship is proving to be a game-changer in rural India, providing a much-needed boost to the economy. It is creating opportunities for millions of people to lead a better life.
Growth of Women Entrepreneurship in India
The growth of women entrepreneurship in India is not just about economic empowerment, but also about paving the way towards a more equal society. Women entrepreneurs have the potential to drive change and work toward solutions that are oriented toward women. They can create businesses and innovate keeping women in mind, thus helping to bridge the gender gap.
For instance, women entrepreneurs can create businesses that focus on women’s health and hygiene, often neglected in traditional businesses. They can also create products and services that cater to the needs of working women, such as affordable child care and flexible work arrangements.
Moreover, women entrepreneurs can also act as role models and inspire other women to take up entrepreneurship. They can break the stereotypes and prove that women are equally capable of running successful businesses.
The government of India has recognized the potential of women entrepreneurs in driving change. They have launched various schemes and initiatives to support them, such as the Women Entrepreneurship Platform (WEP) and the Stand Up India scheme. Overall, women entrepreneurship in India is not just about business, but also about creating a more equal and inclusive society.
The Way Forward
India has a rich history of women who have played significant roles in shaping the country. Some of the most prominent figures include Sarojini Naidu, the “nightingale of India” and a leading figure in the Indian independence movement, and Indira Gandhi, the first female prime minister of India who played a vital role in the country’s political landscape.
In recent times, India has seen a surge in the number of women business leaders breaking barriers and making a mark in various industries. Zia Mody, the founder of AZB & Partners, is a renowned lawyer and one of the most influential people in India’s corporate world. Vinita Bali, the former CEO of Britannia Industries, is a prominent business leader and a role model for women.
It is crucial for India to continue to support and encourage women to become entrepreneurs. This can be done by providing them with access to funding, training, and mentorship programs. The government has launched several initiatives to support women entrepreneurs, like the MUDRA scheme providing loans to small and micro-enterprises.
Moreover, it is essential to create a more inclusive and supportive environment that fosters entrepreneurship among women. This can be achieved by promoting gender diversity and inclusion in the workforce. Encouraging more women to take up leadership roles is a brilliant step towards it.
Smile Foundation and Women Entrepreneurs
In conclusion, women have played a significant role in the history of modern India. It is crucial to continue to support and encourage women to become entrepreneurs like Smile Foundation is trying to do in its women empowerment initiative, Swabhiman.
In Swabhiman, potential women entrepreneurs are identified and supported with dedicated programmes to build an ecosystem for them to progress and excel. We believe that with the right support and resources, women entrepreneurs can drive change, innovate, and create a more inclusive, equal, and prosperous society.
