The rise of women’s entrepreneurship in India marks a significant shift in the country’s socio-economic landscape. Women’s achievements in this time and age are exceptional with many of them making ground breaking accomplishments in every sphere of life. And like elsewhere in the world, even in India, women led businesses have been providing a great impetus to the economy.
According to a report by Bain & Co. nearly 20% of enterprises in India are owned by women. While the country steers towards transforming it’s economic and social development status through women owned businesses, several women dynamos have ascended to fame. Image-consulting, e-commerce, science, entertainment are just a few industries where Indian women entrepreneurs have been smashing glass ceilings. From Kiran Mazumdar-Shaw, founder of Biocon, India’s leading bio-technology company to Falguni Nayar, founder of Nykaa, a renowned beauty and wellness platform, these trailblazing women have shattered glass ceilings and paved the way for others to follow. However in India, women still encounter obstacles including access to finance, societal expectations and work-life balance challenges.
One of the primary drivers behind the surge in the rise in women’s entrepreneurship in India is the changing socio- cultural milieu. Women are breaking the patriarchal norms and pursuing their entrepreneurial aspirations. The cultural shift is propelled by educational empowerment. Women have access to quality education and skill development programs. Government initiative’s also play a crucial role in making the environment conducive to women’s entrepreneurship. Programs such as Stand-up India Scheme aims to facilitate bank loans to women, WEP (Women Entrepreneurship Platform), a dedicated platform for nurturing aspiring women, Atal Innovation Mission and Start-up India have encouraged women to pursue their business ideas and ventures.
The digital revolution has emerged a game changer opening up unprecedented opportunities for women. Women are working from home and launching their businesses on social media enabling them to reach a wider audience and build valuable connections.
