India’s women entrepreneurs: Driving innovation, empowering communities

New Delhi [India], March 8 (ANI): In the dynamic tapestry of India’s economic landscape, a revolution is underway – one that is powered by the indomitable spirit and visionary leadership of women.

Breaking stereotypes and shattering glass ceilings, the trailblazing women entrepreneurs are not just making waves, but also rewriting the narrative of success in the country.

As per statistics, women constitute approximately 14 percent of the total entrepreneurial landscape in India.

India, often hailed as the land of opportunity, has witnessed a surge in entrepreneurship over the past decade. However, despite this growth, women have traditionally faced numerous barriers when venturing into the world of business.

In recent years, there has been a significant rise in the number of women venturing into entrepreneurship, reshaping the economic landscape and challenging traditional gender roles.

In an interview with ANI, Neha Bagaria, the founder of HER KEY, a platform dedicated to supporting and empowering women entrepreneurs, shared her insights on the evolving role of women in business and the imperative for creating a more supportive environment for female entrepreneurs.

Bagaria believes that women are playing an increasingly pivotal role in driving innovation and economic growth.

Bagaria said, “We’re seeing a huge amount of change happening in the entrepreneurial landscape for women. And I think a lot of it is driven from the fact that women are really stepping up to the plate in terms of trying to start their own businesses. And not just that, but also looking at scaling their businesses, which is why we’re now seeing women as a big section of job creators in our economy.”

She emphasized the importance of addressing biases in fundraising discussions and providing mentorship opportunities to help women entrepreneurs scale their businesses.

“We also need to make sure there are lots of funds that are deployed and available for women entrepreneurs, keeping in mind a lot of the bias that comes up in these fundraising discussions and figuring out a way for us to be able to overcome the bias on both ends so that women can then scale their businesses”, Bagaria said.

Women play a pivotal role in driving India’s economic growth and development. The necessity of women’s participation as both job seekers and job creators is to realize the country’s full potential.

Bagaria stated, “Prime Minister Narendra Modi’s vision for a USD 5 trillion economy can only happen if women are also equally contributing to the economy, and not just as job seekers, but also as job creators, because we also need to make sure that enough employment opportunities are available in India, and And for that, we can’t rely only on the men as entrepreneurs. We need the women to step up as well”.

Cultural norms, societal expectations, and systemic biases have historically hindered their progress. Yet, against all odds, women entrepreneurs are carving their paths to success.

Divya Batra, renowned for her appearance on Shark Tank and the founder of Qirksmith, shared her expertise in an interview with ANI.

Batra said, “We firmly believe that an entrepreneur is an entrepreneur, regardless of gender. All entrepreneurs must embrace change. To stay current in the direct-to-consumer (DTC) realm, we utilize Shopify and engage in cohort groups with fellow entrepreneurs. Additionally, we maintain our curiosity about AI advancements. In terms of design, we stay abreast of AI and technological developments.”

Many women entrepreneurs possess a keen awareness of the balance they seek between their professional and personal lives.

Having experienced the challenges of being the first working woman in their families, they understand the importance of creating supportive work environments that prioritize well-being and flexibility.

Batra said, “Women, and feminine energy in general, tend to embody traits of sensitivity, nurturing, and generosity. This innate understanding allows women to grasp others’ pain points more deeply, often leading to more effective solutions”.

“Additionally, many women entrepreneurs possess a heightened awareness of the life they aspire to create. They comprehend the challenges of being the first working woman in their families and the courage required for such a journey”, she further said.

An initiative is the Women Entrepreneurship Platform (WEP), launched by the Government of India to foster entrepreneurship among women. Through networking events, skill-building workshops, and financial assistance programs, WEP aims to create a conducive environment for women to start and scale their businesses.

Women-led businesses play a significant role in job creation and local economies through various avenues. By equipping women with the necessary skills and resources, these businesses not only enhance individual livelihoods but also foster a ripple effect of economic empowerment within families and communities.

“Businesses as a whole create a great degree of ecosystem of employment. The country’s economy, I would say, rather than saying local economies. I think the women are the backbone of the economy”, Sonica Malhotra, Joint Managing Director at MBD Group said.

She stated, “Even if today I’m a homemaker, or even if I’m probably a working woman, today without a woman and the kind of support they have in the overall family. If the women don’t do the most essential part of it. Like for instance, looking after kids, taking care of their houses and then also going out and working. I think the economy will collapse without this support of women. That’s why we call it Empowering India, not Empowering Women”.

Similarly, private sector initiatives like mentorship programs and venture capital funds dedicated to women-led startups are helping to level the playing field and unlock the full potential of women entrepreneurs in India.

Shivani Bagdai, the founder of TriChambers, echoes sentiments, emphasizing the transformative impact of women-led businesses on local economies.

“Women empowerment is a huge signifier of inclusive growth. It shows that such change is possible, needed, and the benefit that such a change would bring in to society. The impact of women empowerment is visible locally, nationally, and globally in different manners”, she said.

“Empowerment is different for different individuals. And as an outcome of this empowerment, we have started asking questions, we have started prioritising rationale over assumptions, and we have started transforming and opening mindsets. This is not just economically, where today there is recognition of the contribution that women can make, but also progress socially, politically, culturally, and so on,” Badgai added.

As the momentum continues to build, the future of women entrepreneurship in India looks brighter than ever.

With each success story, these trailblazing women are not only inspiring the next generation of entrepreneurs but also challenging the status quo and redefining what it means to lead and succeed in the world of business.