Roadmap for Answer Writing

To effectively answer the question “What socio-economic benefits does women entrepreneurship bring to India, and what are the key challenges that hinder its growth in the country? Discuss.”, follow these steps:

1. Introduction (50-60 words)
   • Briefly introduce the concept of women entrepreneurship in India.
   • Mention its growing significance in the socio-economic landscape.
2. Socio-Economic Benefits of Women Entrepreneurship (150-180 words)
   • Divide the benefits into Economic and Social benefits.
   • Use relevant facts to support each point.
3. Key Challenges Hindering the Growth of Women Entrepreneurship (150-180 words)
   • Identify the challenges women entrepreneurs face in India.
   • Support each challenge with facts and examples.
4. Conclusion (50-60 words)
   • Summarize the key points.
   • Provide a hopeful note about the potential for overcoming challenges, referencing government schemes or rising entrepreneurial initiatives.

Relevant Facts to Include

1. Economic Benefits of Women Entrepreneurship

• Higher Economic Growth: Women’s increased participation in employment and entrepreneurship could boost India’s GDP by $0.7 trillion by 2025 (Source: Report on Women Entrepreneurs, Indian Economic Times).
• Job Creation: Female entrepreneurs can generate between 150-170 million jobs in India by 2030 (Source: McKinsey Report on Women Entrepreneurs).
• Increased Per Capita Income: Higher Female Labour Force Participation leads to improved family income, resulting in a higher per capita income for the country (Source: National Statistical Office).
• Women-Centric Products and Solutions: Venture capital funding mostly supports male-led businesses, creating a gap in businesses addressing women’s needs. More women entrepreneurs could fill this gap, offering products and solutions tailored to women (Source: Women Entrepreneurs in India, KPMG Report).

2. Social Benefits of Women Entrepreneurship

• Balanced Regional Development: Women entrepreneurs set up businesses in backward areas to avail government subsidies, helping bring balanced regional development (Source: UN Women Report).
• Female Empowerment: Entrepreneurship empowers women to break gender barriers and gain financial independence, providing them with platforms to realize their potential (Source: National Policy for Skill Development and Entrepreneurship).
• Reduced Gender Gap: Women entrepreneurship bridges the compensation gap, reduces the glass ceiling effect, and promotes equitable corporate culture (Source: NITI Aayog).
• Improved Human Capital: Women often prioritize spending on children’s education and family health, which leads to better-educated, healthier future generations (Source: World Bank Report on Gender and Development).

3. Key Challenges Hindering Women Entrepreneurship in India

• Lack of Financial Support: More than 90% of women entrepreneurs rely on informal finance since they struggle to obtain formal, collateral-free loans (Source: National Sample Survey Organisation, 2019).
• Social and Cultural Barriers: Social customs restrict women’s mobility, and they are often expected to balance caregiving roles, limiting their entrepreneurial ventures (Source: National Gender Report).
• Limited Networking Opportunities: Women face barriers in accessing professional networks, mentors, investors, and business partners, all of which are crucial for business growth (Source: Indian Women Entrepreneurs Network).
• Technological Barriers: Women entrepreneurs face challenges in accessing technology, which limits their ability to scale businesses or reach markets effectively (Source: McKinsey & Company).
• Gender Bias: Gender discrimination in the market makes it difficult for women to secure contracts, gain trust, and access capital. Additionally, patriarchal society presents difficulties in managing a male-dominated workforce (Source: FICCI Women Entrepreneurs Report).

Conclusion

• While women entrepreneurship offers substantial socio-economic benefits, including economic growth, job creation, and gender empowerment, challenges like financial barriers, social norms, and gender biases hinder its growth in India. However, with increasing government support and changing societal attitudes, these challenges are gradually being overcome. The Agenda 25X25 goal, aiming for 25% women entrepreneurs by 2025, provides a hopeful vision for the future.