UDYAM SAKHI AND WOMEN'S ENTREPRENEURSHIP: A PATH TO SUCCESS
Abstract
India's rapidly growing economy relies heavily on the Micro, Small & Medium Enterprises (MSMEs) sector, which has historically been the driving force behind economic growth, employment, and income generation. However, despite its undeniable importance, a significant portion of MSMEs, particularly those led by women, continues to face economic challenges. In this context, this study examines the barriers hindering the full participation of women in the Indian MSME sector and explores government initiatives designed to empower and support women entrepreneurs.
Despite the increasing number of MSMEs in India, women-owned enterprises remain in the minority, with only one in every five being led by women. The representation of women in this sector is alarmingly low, and the growth of existing women-led enterprises has plateaued. This gender disparity is partly attributed to limited opportunities for women in the labor force, with inflexible work schedules and wage disparities restricting their involvement in traditional employment. As a result, many women turn to entrepreneurship as a means of generating income, primarily engaging in survivalist ventures focused on subsistence.
Recognizing the pivotal role that women play in the MSME sector's growth and the Indian economy as a whole, the government has initiated efforts to bolster women's entrepreneurship. The Ministry of Micro, Small & Medium Enterprises has introduced various programs to empower women entrepreneurs, most notably the Udyam Sakhi initiative. Udyam Sakhi serves as a network dedicated to nurturing social entrepreneurship by developing business models centered around low-cost products and services aimed at addressing social inequities.
This platform caters to the unique needs of approximately 8 million Indian women who have embarked on their entrepreneurial journeys. It provides them with valuable resources, including entrepreneurship education tools, access to incubation facilities, training programs for fundraising, mentorship opportunities, one-on-one investor meetings, market research capabilities, and technical assistance. By offering such comprehensive support, Udyam Sakhi seeks to elevate women-led MSMEs, enabling them to scale their enterprises, create jobs, and make substantial contributions to India's GDP.
This research delves into the gender disparities in the Indian MSME sector and the ways in which women are breaking barriers to become successful entrepreneurs. It also analyzes the effectiveness of government initiatives like Udyam Sakhi in empowering and promoting women's entrepreneurship. By shedding light on these critical issues, this study aims to contribute to a more inclusive and vibrant MSME sector in India, ultimately fostering economic growth and gender equality
