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Women-Owned MSMEs Surge to 1.84 Crore in India

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Women-owned MSMEs have seen a spurge in India.

The country now has over 1.84 crore women-owned MSMEs, marking a significant development for the nation’s economic landscape.

The announcement underscores the growing role of women entrepreneurs in India’s business ecosystem.

Policy push:

Since launch of the Udyam and Udyam Assist Platforms (UAP) in July 2020 and January 2023, women owners have accounted for 39% of MSMEs registered. As of July 23, 2024, there are 1,84,59,809 MSMEs owned by women, Jitan Ram Manjhi, Union Minister, Micro, Small, and Medium Enterprises, said during question hour in the on-going Monsoon session in the Parliament.

Among the programs to boost the involvement of women in the MSME industry, the government amended the Public Procurement Policy in 2018. It now mandates central ministries, departments, and undertakings to obtain at least 3 percent of their annual requirements from women entrepreneurs.

The GoI has also implemented policies to improve women-owned MSMEs’ access to credit. One of the policies to improve financing options for women-owned MSMEs, offers up to 85% guarantee coverage and a 10% reduction on annual guarantee fees.

The government aims to create an inclusive business environment and empower women entrepreneurs, with the rise of women-owned MSMEs expected to significantly impact India’s economy.

Our take:

India’s economic self-sufficiency and diversity are being bolstered by MSMEs, which are driving job creation, innovation, and economic expansion, promoting gender equality and women empowerment.

The future of the MSME sector will be marked by the impact of government initiatives on female entrepreneurs and the economy as a whole.


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NTPC’s GEM for Women Empowerment

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In a bid to promote gender equality, NTPC has iterated the Girl Empowerment Mission (GEM)-the Maharatna’s CSR program.

The one-month program provides a platform for the all-around development and uplift of young girls through a one-month workshop held during the summer holidays.

It strives to address gender inequality and is in line with the Government of India’s Beti Bachao, Beti Padhao initiative.

Beginning in April 2024, approximately 3,000 deserving kids from disadvantaged social groups will be added to the new GEM at 42 designated PSU locations in the power sector. This will bring the total number of kids receiving Mission benefits to over 10,000.

With just three locations and 392 participants when it was first launched as a pilot project in 2018, the GEM Mission has grown into a national movement. The COVID-19 pandemic presented obstacles in 2020 and 2021, but the program persevered in growing in scope and influence.

As of now, 7,424 girls have benefited from it overall, and the number of participants has been rising yearly. 2,707 girls from 16 states and 40 NTPC locations took part in the workshop in 2023 alone.

To prepare girls for the future, the Mission seeks to identify and develop the leadership potential within them through a variety of interventions. The workshop’s main topics are yoga, sports, fitness, safety, and health.


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DEI, Women empowerment, Inclusion

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How far has India fared in terms of DEI?

Sonal Desai


What is the status quo of DEI in India?

That may be a very difficult question to answer. Different agencies have reported different data. For example, People Matters says that 63 percent of companies hosted events and DEI-related discussions. 50 percent of companies have a DEI mission statement. 49 percent have a DEI strategy in place.

This data can present a different view. For some, it may be a half-glass full, and some may view that as a half-empty glass. But if you consider the two main focus elements of DEI: women and persons with disabilities, the scenario tilts in favor of the former since Women Empowerment is in vogue.

Speakers at a recent webinar organized by the DEI Committee of the Southern region of ASSOCHAM conceded that organizations are a lot more aware of inclusion as a part of what they do for social responsibility. The regulatory mandate provides the impetus.

Leading the charge, Dr. Manasa Nagabhushanam, Chairperson, ASSOCHAM Southern Regional Council on Diversity & Inclusion & Director of Ramaiah Institute of Management, Bengaluru, pointed out the challenges women and persons with disabilities face in getting employment that fits their educational qualifications.

The future of inclusion is very promising and the lines are blurring pointed out Ankit Jindal, Marketing Advisor, NTT DATA Services, whose narrative was laced with practical examples of how DEI is an organic and seamless part of each organization at NTT DATA.

Mythily Ramesh, Co-Founder and CEO, Mahendra NextWealth, also supported her discussion with narratives from her organization’s endeavor to support women (especially in the rural areas). “The aim is to make them independent and self-confident. We have taken the strides, and are seeing results.”

I am taking this as a positive signal, that somewhere we have made a start. With technology as the biggest enabler, organizations are also upgrading infrastructure to accommodate the needs of persons with disabilities. Many organizations have organized special initiatives for women wanting to return to work after a maternity break. Many offer creche facilities, flexible hours, or even part-time work besides continuous training and upskilling programs to provide women equal opportunities to climb the corporate ladder.

I admit that the push for DE&I is growing in both the private and government sectors. The private sector has started making concerted efforts in recent years to support workplace diversity including improved access to physical and digital infrastructure to enable a conducive workplace. The government is also being sensitized toward DEI. I am happy to note that DEI is a strategic policy at the central, state, and local government levels.

However, this is just the beginning and I am sure that soon, DEI will be a part of our parlance, an integral part of our daily lives.

Some concerns:

Women’s labor force participation in India still stands at 22.3% vs the Global average of 47%. Do surveys on women’s participation focus on their mental and physical well-being? Each of these surveys must mention homemakers, who are a vital component of our day-to-day lives. They slave the hardest, work OT, and yet feel guilty as they are not stepping outside their homes to earn! Many of these women have volunteered to take a back seat, and that takes a lot of courage. But as a collective, I believe it is our responsibility to make them feel valued, respected and their work, appreciated.

Similarly on DEI, how many persons with disabilities have jobs that match their skill sets? How many organizations are willing to employ them? Is the HR or the respective business units sensitive toward their needs? Do we understand that they do not need our pity, but empathy, respect, and equal treatment?

As a species human beings first need to remove the mental barrier and stop looking at persons with disabilities as different people. They are people. They have skill sets, are educated and therefore, they have the job. THEY DESERVE IT AS GOOD AS ANYONE ELSE!

Thankfully, there is a rising ecosystem to support DEI. This comprises NGOs, social enterprises schools, and colleges who are preparing and training the talent, making them market-ready.


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