Women’s Entrepreneurship Day: India Need More Women Entrepreneurs

We must understand that a society in which women cannot realise their full potential loses out significantly on the potential for economic growth, gender equity, innovation, and livelihood creation. Therefore, it is imperative to encourage entrepreneurship among women. To ensure that there are more women participants in the entrepreneurship space, there is a serious need to increase awareness and education on the existing government policies, schemes and programs that give women the support they need to start their enterprise. Women entrepreneurship has been identified as an important catalyst for economic growth. However, despite industrialization, economic growth, and improvement in social indicators, participation of women in the workforce remains low in India. Despite India’s rapid economic growth in recent decades, India still has very few women entrepreneurs, well below several Sub-Saharan African countries on some average measures. Although India’s overall average female business-ownership share is on an uptrend, the pace of improvement is slow, and there remain huge spatial disparities across states within India. The number of micro, small and medium enterprises (MSMEs) led by women entrepreneurs in the country has jumped from a mere 2.15 lakh, as per the MSME Ministry’s FY11 annual report, to 1.23 crore in FY21.

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