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Why A Transformation Is Required To Enable Women Entrepreneurship

Monday, December 21, 2020 2:00 PM | Anonymous

In India, women entrepreneurs have a potential to create transformational employment and generate 150–170 million jobs according to a joint report by Bain & Company and Google. However, women continue to struggle for accessing equal opportunities, equal payment and equal recognition.

The abysmal state of women can be verified by a mere glance at the data – the World Bank estimates that 35% of India’s women of the working-age population currently do not have paid work. Although women represent 42% of the agricultural labour force in India, they own just 2% of farmland. Women’s Labour Force Participation Rate (LFPR) in India is among the lowest in the world and continues to decline. The unemployment rate among women is 18% in India against the overall unemployment rate of 7%, in the country.  As per the Global Entrepreneurship and Development Institute (2015), India performs below the 20th percentile in the female entrepreneurship index. By 2030, the working-age population of India will surpass 1 billion, the highest in the world. Research suggests that just women alone will need 400 million jobs.

To decrease the economic disparity between men and women, India collectively needs to take a non-traditional approach. While the Government of India and civil society organisations are undertaking various initiatives to promote employment and entrepreneurship among women and have created successful examples across India, there is room for tremendous improvement. And to solve a problem, one must look deep enough to identify the reasons behind it.

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