binarypublishFemale entrepreneurs are driving a shift in India’s startup landscape towards gender equality, with the rise in women-led startups reaching 18% over the past five years, transforming various industries such as direct-to-consumer sectors, according to the Women in India’s Startup Ecosystem Report or WISER.
- India’s startup ecosystem, currently the third largest globally, is experiencing significant growth facilitated by women entrepreneurs, challenging gender stereotypes, and instigating a new era of inclusiveness.
- From 2017 to 2022, the proportion of women-led startups dramatically increased, reaching 18% out of the total 80,000 startups in the country.
- Women-run enterprises account for 22% of all businesses in India, creating job opportunities for 27 million people, highlighting the significant economic contribution of women in the entrepreneurial scene.
- In the top three direct-to-consumer sectors – personal and home care, food and beverage, and fashion – 52% of all businesses are women-led enterprises as of May 2023.
Despite these strides, Indian women entrepreneurs continue to face hurdles including biased perceptions, limited access to funding, and balancing family responsibilities while venturing into entrepreneurship. WISER report suggests that career progression of women does not happen at the same pace as their male counterparts.
A study by McKinsey reveals that India could see a $770 billion increase in its GDP, accounting for more than 18% of the total, if equal opportunities are granted to women by 2025.
Efforts are also being made to address these concerns with initiatives like the virtual workshop organised by the Global DEI Alliance and Boston Consulting Group (BCG) where industry leaders and subject-matter experts discuss the challenges faced by women entrepreneurs.
In conclusion, the rise of female entrepreneurs in India is not only driving the growth of the startup ecosystem but also advancing gender equality, and creating more opportunities for women in business.
