Women entrepreneurs are more creative, open-minded and that’s exactly what we need to boost economy

Ease of Doing Business for MSMEs: It is very important that all the women entrepreneurs are given the right kind of environment to be equal participants to help India to scale its economy to the tune of $5 trillion.

Covid-19 and the ensuing lockdowns put a grave dent in the economic framework of all countries. Now, the gradual re-opening up of economic activities presents a golden opportunity for women entrepreneurs to adapt and get use to the to “the new normal”. This is especially important because “the new normal” is not a constant, it is everchanging as we learn new things about the pandemic and learn of new ways to cope and overcome. We need all the creativity and the open-mindedness we can get to boost the economy.Study has shown that women are more creative and open-minded and that is exactly what we need to build a new order.

CEO of NITI Aayog, IAS Amitabh Kant said “High growth rates of 9-10 per cent year-after-year are not possible for India till women don’t become key entrepreneurs”.

He further has gone on record and said that whenever opportunities have been made open for women, they have done much better than men. In light of this, it is immensely important that women entrepreneurs are given the right kind of environment to be equal participants to help India to scale its economy to the tune of $5 trillion.

In the course of this pandemic, technology has shown its importance in the world and how crucial it has become for us to survive through this crisis. All our wants are fulfilled by innovative technologies wheather its from health to education to entertainment or to work. And also, there are many more fronts in travel and tourism, manufacturing and logistics and others, where technology has only scratched the surface. 

Women entrepreneurs that are established, help the upcoming ones by building national-level support institutions for women entrepreneurs, including mentorship, financial support, networking, and other support services.

The contribution of all the individual women entrepreneurs important, but it is very important that there is support available for deserving women entrepreneurs to minimise the perceived risk associated with entrepreneurship and encourage women from all walks of life to embrace it.

Incubators and Accelerators can play an important role in helping enable a lot of the support that is required and it behoves the government, supranational bodies and corporates to help in setting up specific, outcome-oriented schemes to promote women entrepreneurship through incubators.To conclude, as per a McKinsey report, India can add $700 billion to India’s economy if we help women in India to reach the worldwide average in terms of women working viz 48 per cent and we stand at just 22 per cent.