NE NEWS SERVICE
NEW DELHI, FEB 19
A new report by Bain & Company and Google titled “Women Entrepreneurship in India – Powering the economy with her” identifies six dominant segments of women entrepreneurs and estimates India to have 13.5–15.7 million women-owned enterprises, representing just 20% of all enterprises. These enterprises are creating direct employment for 22 million to 27 million people in India.
The report pushes for an integrated policy framework for accelerating entrepreneurship among women, including those from semi-urban and rural areas. As per the report, an all-state effort focused on enabling women entrepreneurship can by 2030 increase direct and indirect employment for 150 to 170 million people. This number is more than 25% of the new jobs required for the entire working-age population by 2030. If accomplished this will put India at par with several emerging and advanced economies where more than 40% of all enterprises are women-owned.
The challenge is certainly a big one, given that as per the data shared in the report, of the approximately 432 million working-age women in India, about 343 million are not in paid formal work. An estimated 324 million of these women are not in the labour force and another 19 million are in the labour force but not employed. There is a need to create jobs for up to 400 million women of working age 15-64.
The report also sheds light on the present-day challenges and gender biases that are holding back women entrepreneurs from gaining their full potential. Socio-cultural challenges like women’s perceived role as primary caregivers, difficulty in obtaining social permission to work and other factors like access to funds remain constrained, limited access to business and technical skills and the fact that women are less integrated with formal and informal networks. The report takes into account in-depth conversations with 60 entrepreneurs from various segments and a granular survey of 1,100 women entrepreneurs across urban and rural areas to understand the motivations and constraints of the entrepreneurs.
Government schemes to promote woman entrepreneurs
1. Trade Related Entrepreneurship Assistance and Development (TREAD) scheme for women
This scheme provides women with proper trade related training, information and counseling along with extension activities related to trades, products, services etc. Along with that,Government Grant also provides up to 30% of the total project cost as appraised by lending institutions which would finance the remaining 70% as loan Assistance to applicant women. It mostly helps poor & usually illiterate/semi-literate women to get started on their business.
2. Mahila Vikas Nidhi
This fund has been set up by SIDBI to help women in rural area start their entrepreneurship easily. It grants loan to women are given to start their venture in the field like spinning, weaving, knitting, embroidery products, block printing, handlooms handicrafts, bamboo products etc.
3. Co-operative Schemes
Women co-operatives schemes were formed to help women in agro-based industries like dairy farming, poultry, animal husbandry, horticulture etc. with full financial support from the Government.
4. Government Yojanas
Swarna Jayanti Gram Swarozgar Yojana and Swaran Jayanti Sekhari Rozgar Yojana were two important schemes launched by the government to provide reservations for women and encouraging them to start their ventures.
5. Private Organisations
Several NGOs, voluntary organizations, Self-help groups, institutions and individual enterprises from rural and urban areas are working to help new women entrepreneurs to set up their business and run it smoothly.
A few training programmes started by the Government for self- employment of women are:
- Support for Training and Employment Programme of Women (STEP).
- Development of Women and Children in Rural Areas (DWCRA).
- Small Industry Service Institutes (SISIs)
- State Financial Corporations
- National Small Industries Corporations
- District Industrial Centres (DICs)
