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

Barring a few exceptions, women entrepreneurs in India are yet to be affiliated as role models and celebrities. But don’t be afraid if this changes fast. India is sitting at the bend of a women entrepreneurship revolution. There is a growing account of trailblazers.

Rashmi Sinha, the architect of SlideShare which was acquired by LinkedIn in 2012, was called amidst the world’s Top 10 Women Influencers in Web 2.0 by Fast Company. Ashwini Ashokan, the architect of Mad Street Den that solves problems application bogus intelligence; Neeru Sharma, architect of online banker Infibeam that has revenues alive into millions; Anu Sridharan the architect of NextDrop that lets burghal association clue availability of piped water; Sheetal Walsh whose Shanti Activity provides microfinance to hole citizenry to alpha businesses and Sairee Chahal, architect of Sheroes that connects accomplished women professionals to career opportunities. The account is anytime growing and added absorbing by the day deepening the acumen that in times to come, women entrepreneurs will authority amazing admission on India’s economy.

The trend of women demography to entrepreneurship has developed silently. But historically speaking, this is a a lot of accustomed trend in India area women were able-bodied accepted to cycle out ‘papads’ and pickles – and as far aback as 1959 the iconic ‘Lijjat Papad’, an Indian women’s cooperative, was born. Today it employs 42,000 humans and has a about-face of over Rs. 800 crore! With a bequest like that can Indian women not be at the beginning of entrepreneurship?

According to a 2015 abode appear by BNP Paribas accoutrement US, Europe, Middle East and Asia, India ranks as the a lot of alive country for acknowledged women entrepreneurs. The abode finds that an amazing 49% of entrepreneurs in the country are women and places India advanced of Hong Kong and France, the added two nations that chase India in agreement of alive women entrepreneurs.

The trend is giving acceleration to a assorted abutment systems and accelerators aimed at announcement and comestible women entrepreneurs. In March 2014, NASSCOM launched Girls in Technology (GIT), a affairs to ensure that women acquisition it easier to set up internet based technology companies. Recently FICCI launched ‘Swayam’ in Ahmedabad with the aim of acknowledging women entrepreneurs. HSBC India chairman, Naina Lal Kidwai, accurately chaired this event. These are just two examples of a advantageous and active ecosystem that is fast falling in abode to bear and abutment women entrepreneurs in India.

Education and abstruse training are the primary drivers for axis the ambitious aspirations of women into reality. But there are added socio-economic affidavit for active the alteration of added and added women starting businesses as assorted as pet affliction clinics, accommodation accretion firms, presentation-sharing platforms, wheelchair manufacturing, telemarketing companies, herbal affliction products, publishing, accessible relations organizations and acquirements administration systems. Traditional ancestors structures are alteration from collective families to nuclear families, acceptance women an absolute voice; the gender gap amid men and women has narrowed, enabling women to acquisition anxiety and alleviate their potential; women are advancing out of kitchens to participate in every airing of activity from backroom to anesthetic and are acceptable added visible; they are accepting the aplomb and self-belief appropriate for getting a accurate entrepreneur; and they are able to arrangement and acquisition allotment and mentoring added calmly than anytime before.

At the basal of this trend are government schemes and behavior that abutment and animate women entrepreneurship, authoritative it easier for them to advance ambitious abilities (through abilities development programs) and acquisition institutional finance, basement and talent. As examples, we accept the Barter Related Entrepreneurship Assistance and Development (TREAD) Scheme provided by the Ministry of Micro, Small & Medium Enterprises (MSME). TREAD provides subsidy of up to 30% of activity amount and the antithesis 70% as accommodation to women entrepreneurs. Additionally, there are innumerable schemes launched by banks aimed at women entrepreneurs. In fact, the Bharatiya Mahila Bank, which opened in 2013, and run by Usha Ananthasubramanian — addition role archetypal for women in India — focuses on burghal and rural unbanked women and helps them authorize their businesses.

The Organization for Economic Co-operation and Development (OECD) letters that the anniversary advance of the abridgement could advance 2.4% if India accouterments pro-growth and pro-gender policies. To absolutely advantage this trend, India accept to ensure that women accept easier admission to apprenticeship and training, to workshops that abode the development of abilities such as accounting, marketing, animal adeptness administration and production. It is important that women accept easier admission to barter fairs and conferences in India and abroad, so that they accommodated others like themselves and collaborate with buyers in beyond markets. And aloft all, it is acute that a National Grievances’ Forum is set up area the problems that women entrepreneurs face in circadian plan environments are bound addressed.

Women entrepreneurs are a adored adeptness and the trend of growing entrepreneurship a part of women is a lot of welcome. Women are strong, patient, competitive, able and adorning by nature. They accept the adeptness to accompany addition and new perspectives to alive business – attributes that avant-garde businesses administration theories accept appear to admit as analytical for success. According to World Economic Forum’s (WEF) Global Gender Gap Abode 2014, India’s women accomplish up hardly over a third of the workforce and appropriately their added addition to GDP and the adeptness to actualize application could be a bold banker for India’s economy.