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New Delhi: Women in entrepreneurship can generate transformational employment in India and generate 150-170 million jobs, which is more than 25 per cent of the new jobs required for the entire working-age population by 2030, a new report said on Tuesday.
A joint report by Bain & Company and Google titled “Women Entrepreneurship in India - Powering the economy with her”, underlines the need to accelerate efforts to grow women entrepreneurs in India in both quantity and quality to solve employment challenges in the country.
“In spite of India’s economic progress in the last decade, women’s participation in the labour force has declined and is expected to be under pressure due to labour trends, technological disruption and constraining social barriers,” said lead author Megha Chawla, Partner, Bain & Company.
“Unlocking entrepreneurship amongst women in India is a complex effort, but it provides an unprecedented opportunity to change the economic and social trajectory of India and its women for generations to come,” Chawla added.
“This will drive tremendous job creation and also deliver transformational social and personal outcomes for women,” she added.
The report identified six dominant segments of women entrepreneurs and estimates India to have 13.5-15.7 million women-owned enterprises, representing approximately 20 per cent of all enterprises today.
In many cases, women are named as owners for financial and administrative reasons with no active role to play, which overstates true entrepreneurship amongst women. Of all women-owned enterprises, a majority are single person enterprises, with the largest group represented by rural non-farm home-based business owners at 38 per cent, followed by urban self-employed women solopreneurs at 31 per cent, who usually work from home. (IANS)