Women in business: India
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Enterprises owned by women
A new report by Bain & Company and Google titled “Women Entrepreneurship in India – Powering the economy with her” identifies six dominant segments of women entrepreneurs and estimates India to have 13.5–15.7 million women-owned enterprises, representing just 20% of all enterprises. These enterprises are creating direct employment for 22 million to 27 million people in India.
The report pushes for an integrated policy framework for accelerating entrepreneurship among women including those from semiurban and rural areas. As per the report an all —state effort focused on enabling women entrepreneurship can by 2030 increase direct and indirect employment for 150 to 170 million people. This number is more than 25% of the new jobs required for entire working age population by 2030. If accomplished this will put India at par with several emerging and advanced economies where more than 40% of all enterprises are women— owned.
The challenge is certainly a big one, given that as per the data shared in the report, of the approximately 432 million working age women in India, about 343 million are not in paid formal work. An estimated 324 million of these women are not in the labour force and another 19 million are in the labour force but not employed. There is need to create jobs for up to 400 million women of working age 15-64.