Page 42 - Banking Finance June 2024

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technical support, one-on-one investor meetings, market
survey facility etc. For those who have started or are running
their own business through its platform. In short, it can be
easily guessed that the Government of India is continuously
engaged in bringing revolutionary changes in the role of
women outside the four walls of the house. Women these
days take risks, trust their instincts and don't settle for
anything less.

Many initiatives have been taken for this. The Government
of India implements "Mission Shakti" which has two
components, Sambal and Samakta. Under "Sambal" there
are schemes like Beti Bachao Beti Padhao, One Stop Centre,
key factor in embarking on an entrepreneurial journey is Women Help Line and Nari Adalat. The components of the
capital and various banks offer special loans for women sub-scheme "Samarth" are Pradhan Mantri Matra Vandana
entrepreneurs, with a slightly different and more flexible set Yojana, Shakti Sadan, Center for Empowerment of Women,
of terms and conditions related to collateral security, Sakhi Niwas i.e. working women's hostel, Palana,
interest rates, etc. Anganwadi.

One third of entrepreneurial ventures worldwide are run by Women Entrepreneurship Platform (WEP) is a Government
women entrepreneurs. Women entrepreneurship has of India supported initiative launched by NITI Aayog in 2017
boomed in India due to economic progress, better access to promote a conducive ecosystem for women
to education, urbanization, spread of liberal and democratic entrepreneurship in India. WEP was intended to create a
culture and recognition by society. Special incentives and unified aggregator of relevant information and services. It
campaigns have been created in India to promote the specifically provides access to programs for a) incubation and
development of women entrepreneurs. Schemes like acceleration, b) entrepreneurial skills and mentorship, c)
Startup India and Standup also play a special role in marketing assistance, d) funding and financial assistance, e)
promoting entrepreneurship among women. With a vision compliance and tax assistance, and f) community and
to promote sustainable growth of women entrepreneurs for networking. Since the launch of WEP in 2018, more than
balanced growth in the country, Startup India aims to 26,500 women have registered and benefited from the
promote women entrepreneurship in India through platform.
initiatives, schemes, building enabling networks and
communities and activating partnerships among various WEP has not only served as a one stop shop for women
stakeholders in the startup ecosystem. entrepreneurs but also played an important role in bringing
together various stakeholders to advance women
The Ministry of Micro, Small and Medium Enterprises, entrepreneurship in India.
known as the engine of growth and incubator of
entrepreneurship in the country, has emerged as a pioneer Challenges and future strategy:
of women empowerment on the global stage. An important The nature and structure of Indian society has been male
initiative of the MSME Ministry is the Udyam Sakhi Portal, a dominated, which poses a significant challenge for women
network to promote social entrepreneurship creating entrepreneurs. Limited availability of entrepreneurial skills
business models revolving around low-cost products and and finance among women are among the major issues that
services to solve social inequalities. The portal caters to the hinder the growth of women entrepreneurship in India. Even
needs of approximately 8 million Indian women, providing though women entrepreneurs in India face many challenges,
access to entrepreneurship learning tools, incubation facility, Indian women have been able to overcome these obstacles
training programs to raise funds, providing mentorship, and establish thriving businesses.

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