Project description:
- Title: Economic Empowerment of Women Entrepreneurs and Start-ups by Women
- Commissioned by: German Federal Ministry for Economic Cooperation and Development (BMZ)
- Country: India
- Lead executing agency: Ministry of Skill Development and Entrepreneurship
- Overall term: 2018 to 2021
Context of the project:
Women in India must play a stronger role in the economy as employees and entrepreneurs in order to ensure sustainable economic growth and create jobs.
According to the International Labor Organization ( ILO), the employment rate among Indian women is only 27% now. This means that the female contribution to India’s Gross Domestic Product ( GDP) is only 17%, according to reports by the United Nations.
The Indian Government is currently focusing its economic policies on promoting entrepreneurship, in particular on helping female entrepreneurs. Thus, by encouraging women to participate equivalently in the labor market, the International Monetary Fund estimates a 27% increase in the GDP.
The environment isn’t really convenient for Indian women who want to set up and/or develop their own business. Challenges and limitations faced by women-led businesses can be in the form of difficulties in accessing funding, as banks and investors often rate businesses led by women as riskier.
Even more, challenges arise as a result of social norms and traditional gender roles, which make it even harder for women to take part in meaningful jobs. Their mobility is often restricted by family duties in the household, children’s upbringing, and security concerns.
Objective:
The framework conditions for women-led enterprises in India are improved.
Approach:
The Indian Ministry of Skills Development and Entrepreneurship is the lead operating organization and the main execution partner of the program. The project works closely with local collaborators in the chosen regions (Northeast, Rajasthan, and Telangana).
A support program is being developed with the partners, specifically tailored to the needs of women. The program assists Indian women in the development of start-ups and the growth of their established enterprises.
Reference: https://www.giz.de/en/worldwide/75649.html
