According to a report that was published jointly by Bain and Company and Google and titled Women Entrepreneurship In India-Powering The Economy With Her, female entrepreneurs in India have the potential to create between 150 and 170 million new employment by the year 2030. This is more than 25 percent of the new jobs that are necessary for the entire population of people who are of working age.
It is estimated that there are 16 million women-owned and operated businesses in India, which accounts for around 20 percent of all businesses in operation today and is directly responsible for the employment of approximately 27 million people.
Megha Chawla, a partner at Bain and Company and the lead author of the report, stated that the total number of jobs will increase to 150-170 million by the year 2030 if the focus is on enabling women entrepreneurs to get their businesses off the ground and grow. This will be accomplished by increasing direct employment by 50-60 million people, increasing indirect and induced employment by another 100-110 million people, and increasing induced employment by another 50-60 million people.
The report identifies six dominant segments of women entrepreneurs and says that despite India’s economic progress in the last decade, women’s participation in the labour force has declined and is expected to be under pressure because of labour trends, technological disruption, and constraining social barriers.
In addition, the report says that women’s participation in the labour force has declined and is expected to be under pressure because of these factors. “Unlocking entrepreneurship among women in India is a difficult task, but it presents a once-in-a-generation opportunity to alter the economic and social trajectory of the country and the women there for years to come. This will not only result in a massive increase in employment creation, but it will also have a profound impact on women’s social and personal lives, as Chawla pointed out.
In many situations, women are designated as owners for financial and administrative reasons; nevertheless, they do not have an active role in the business, which overstates the number of women who are truly engaged in entrepreneurship. The majority of businesses run by women are sole proprietorships, with rural non-farm home-based business owners making up the largest group (38%) and urban self-employed women solopreneurs, who typically work from home, making up the second largest group (31%).
Other dominating sectors include rural agripreneurs, who are farm-based business owners, who make up 18% of the total, and small business owners, who make up 14% of the total and are split evenly between urban (6% of the total) and rural areas (8% of the total). Small business owners employ less than 10 people and generate the most job opportunities. Last but not least, there are the scalers, who make up less than one percent of the total workforce yet employ more than ten people.
It is estimated that between 22 and 27 million people in the world today have their jobs directly impacted by the entrepreneurial efforts of women. In addition to this, the research highlights the fact that women require gender responsiveness on a broad scale throughout the whole financial sector in order to have equal access to financial resources.
