In a significant move to boost women-led businesses, NITI Aayog has partnered with the SME Forum to launch an initiative aimed at fostering women’s entrepreneurship across India. This program focuses on bridging gender gaps in business, providing financial access, and promoting economic self-reliance for women entrepreneurs.
The initiative’s key objectives include improving financial access through funding support, credit linkages, and government-backed loan schemes. It also aims to provide mentorship, skill development, and networking opportunities while addressing regulatory challenges that hinder women entrepreneurs.
Despite the rise of women-led startups in India, challenges such as limited access to finance, societal biases, and bureaucratic hurdles continue to persist. Reports indicate that women own less than 20% of MSMEs in India, emphasizing the need for targeted policies and structured support systems.
This initiative will leverage government programs like Startup India, Stand-Up India, and the MUDRA scheme to provide necessary resources. Additionally, efforts will be made to enhance digital literacy, strengthen business incubation, and expand market access for women entrepreneurs.
The economic impact of empowering women in business is substantial. Studies suggest that increasing women’s participation in entrepreneurship could add $700 billion to India’s GDP by 2030, further strengthening employment and economic growth.
Corporate and financial institutions are expected to collaborate with the SME Forum to support mentorship and investment programs, ensuring women entrepreneurs receive the right exposure and funding opportunities.
If successfully implemented, this initiative could transform India’s entrepreneurial ecosystem, fostering innovation, inclusivity, and long-term economic sustainability.
