Entrepreneurship is considered a critical driver of economic growth and development in India, with the potential to create jobs, foster innovation, and promote social change. Historically, the entrepreneurship landscape in India has been dominated by men. However, in recent years, there has been a significant shift towards women-led businesses. The country has experienced tremendous business and economic growth due to the rise in the number of women entrepreneurs.
Impact of women
entrepreneurship on Indian economy
In the modern world, women entrepreneurs are beginning to receive a lot more prominence and attention than they did a few decades ago. According to McKinsey research, simply levelling the playing field for women entrepreneurs could add $1 trillion to the ecosystem and economy of India. This equates to a rise in more than $20 trillion worldwide value. Additionally, 50% of our economy will be exploited by women-led and -focused firms as a source of talent and a market for consumers. This will greatly impact our GDP and economic expansion.
Women-led
businesses driving
innovation
In India, women-owned enterprises are driving innovation across a range of industries. These companies are developing innovative products and services that not only meet the demands of women, but also of society as a whole. For instance, many women-owned firms are developing eco-friendly goods and services that contribute to lowering the nation’s carbon footprint.
Growth of women-led entrepreneurship
In the coming years, there will probably be considerable changes to the startup environment as a whole. This trend will only grow with more women in leadership positions, businesses driven and focused women, inclusive work environments, more women on boards, and technology as a fundamental enabler of the service and product. It is now possible to assess India’s largest market, the Tier 2+ cities, by giving women-led enterprises in India a ground-up, widespread, and long-term foundation.
A driving force for entrepreneurship
Women-led businesses in India are playing a crucial role in fostering the growth of entrepreneurship in the country. These businesses drive innovation, contribute to economic growth, and create job opportunities. With the right support and resources, women-led businesses have the potential to create a more inclusive and sustainable economy in India.
The author is co-founder of food and beverage services.
