The 9th Annual Shakti International Women Entrepreneurs Summit served as a powerful testament to the burgeoning presence of women in India’s business landscape. Union Minister for Micro, Small and Medium Enterprises (MSMEs) Narayan Rane echoed this sentiment, attributing the significant rise in women-led enterprises to the “transformative leadership” of Prime Minister Narendra Modi. The Minister credited improved policies and a more supportive environment fostered over the past decade as key drivers of this growth.
Statistical evidence underscores the significant strides made in recent years. Over 1.4 crore MSMEs in India are now helmed by women, highlighting a growing trend of female participation and leadership in the entrepreneurial ecosystem. Recognizing the unique challenges that women entrepreneurs face, the government has implemented various initiatives to address these specific needs.
One such initiative is making Zed Certification, which validates the ownership of MSMEs by women, completely free of charge. This measure eliminates financial barriers and streamlines the process for women to establish and formalise their businesses, paving the way for a smoother entrepreneurial journey from the very beginning.
The summit served as a launchpad for three new initiatives designed to empower women entrepreneurs at different stages of their journeys:
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Panjikaran se Pragati: This collaborative effort between the MSME Ministry and the Women Entrepreneurship Platform (WEP) is a national campaign with a clear mission: to encourage women entrepreneurs to register with the Udyam platform. Udyam registration unlocks a multitude of benefits for businesses, including access to government schemes, loans, and subsidies. This initiative seeks to bridge the information gap between aspiring entrepreneurs and valuable resources, fostering informed decision-making and propelling their businesses forward.
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WEP Unnati – Udyamita se Pragati: Moving beyond the initial stages of business establishment, this joint MSME-WEP program recognizes that support is crucial for sustained growth. It empowers existing women-led MSMEs by offering comprehensive capacity-building support. This includes access to essential training, mentorship, and networking opportunities. By equipping them with the necessary tools and guidance, this initiative empowers established women entrepreneurs to navigate the complexities of growth and scale their businesses to new heights.
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WEP Mentorship Platform: This platform bridges the gap between experience and aspiration by fostering valuable connections between seasoned and aspiring women entrepreneurs. Mentees gain invaluable insights from the journeys of successful individuals, enabling them to navigate their entrepreneurial journeys with greater confidence and a deeper understanding of the business landscape. Mentorship provides invaluable support, guidance, and knowledge transfer, fostering a more inclusive and collaborative business environment.
The annual Shakti Summit, held in observance of International Women’s Day, serves as a significant platform not just for celebration but also for fostering action. By connecting participants with successful entrepreneurs and industry experts, the summit offers valuable insights and practical advice on various aspects of business, including innovation, leadership, and achieving excellence. This year’s summit, coupled with the launch of new initiatives, underscores the government’s unwavering commitment to nurturing a fertile ground for the success of women-led businesses.
The government’s dedication extends beyond individual initiatives. Its ongoing efforts to create a supportive ecosystem for women entrepreneurs include facilitating access to finance through schemes like MUDRA loans, providing mentorship opportunities through platforms like the WEP Mentorship Platform, and fostering a culture of innovation and entrepreneurship among women through initiatives like the Startup India program. By addressing the specific needs and challenges faced by women in business, these initiatives aim to unlock their full potential and propel them towards achieving their entrepreneurial aspirations.
