- A World Bank report of 2022 says India can grow in double digits if more women are encouraged to participate in the product line of the economy
- Women entrepreneurs have the potential to add 18% to India’s GDP, as per a recent study
- Women entrepreneurs can create 150 to 170 million jobs in India by 2030
Bangalore, November 19, 2022: Women’s Entrepreneurship Day, observed globally on November 19th, celebrates the accomplishments of women entrepreneurs around the world and strives to inspire more and more women into the entrepreneurship fold.
Women entrepreneurship is on the rise all over the world, making a positive impact on society, achieving financial independence, and changing the socio-economic status quo. While there are challenges that come with being a woman entrepreneur, such as finding funding, family support, lack of role models and mobility constraints, there are also many opportunities available.
Commenting on Women’s Entrepreneurship Day 2022, Sanjay Shah, Chief Operating Officer – India/SE Asia, Wadhwani Foundation, said, “Women have always been the backbone of our society, but they are often underestimated in the business world. Though women face innumerable challenges in the entrepreneurial journey, they have always come out victorious. Women’s entrepreneurship develops the business environment and plays a pivotal role in creating a cascading effect for other women, thereby boosting the economy. With the increasing participation of the women workforce, India has the potential to add $700 billion to the global GDP and create an estimated 150 to 170 million jobs by 2030. On this Women’s Entrepreneurship Day, let’s celebrate the difference women make as entrepreneurs and as catalysts of change towards gender equality and economic development by pledging resources and support to achieve their entrepreneurial dreams.”
Watch this video to get some tips by Sanjay Shah on how to be a successful women entrepreneur:
The growing number of incubators and accelerators specifically designed to support and grow early-stage startups and make them investable present a great opportunity for women entrepreneurs, who can take advantage of business frameworks, mentorship, and access to networks and investors.
The rise of digital technologies is another opportunity for women entrepreneurs to start and grow their businesses online. Multiple Seller Services platforms have made it easier for women to start an e-commerce business with minimal upfront investment from the comfort of their homes.
Rajeev Warrier, Executive Vice President, Wadhwani Entrepreneur at Wadhwani Foundation, says, “Women entrepreneurship is a powerful force for social and economic development. When women are empowered to start and grow their businesses, it benefits not just them and their families but also whole communities and economies. Wadhwani Foundation and National Entrepreneurship Network have been working for two decades to support women entrepreneurs, and we will continue our efforts to expand mentorship and networking channels, provide tailored knowledge resources, and work towards building a comprehensive policy framework that creates an enabling environment for women in business.”
While many challenges women entrepreneurs face in India remain, numerous opportunities are also available to them. With access to mentorship, seed funding, government initiatives, and digital technologies, there has never been a better time for women entrepreneurs in India to start up!
About Wadhwani Foundation
Wadhwani Foundation was founded in 2000 by Dr Romesh Wadhwani with the primary mission of accelerating job creation in India and other emerging economies through large-scale initiatives in entrepreneurship, small business growth, innovation, and skilling. The Foundation operates in multiple countries in SE Asia, East Africa, Southern Africa, and Latin America, along with the US. It works in partnership with governments, foundations, corporations, and educational institutes. For more details on Wadhwani Foundation, please visit https://www.wfglobal.org/