Entrepreneurship among Women in India: Strategies for Economic Development

Abstract

It is a common assumption that majority of women in India are economically non-productive as they are not involved in activities that are financially remunerative. But this trend is gradually changing. Women across regions have started showing interests to be economically independent. Interested women with creative and innovative ideas are coming forward to start the small and medium sized enterprises. They are ready to gain experiences, willing to work hard in a supportive environment. Establishment of such enterprises through the initiatives of the women depends upon a number of factors. The experiences of the existing women entrepreneurs can facilitate the aspiring ones to overcome the hurdles. The socialization process, the cultural practices in specific regions, the influencing condition, the support system, the past experiences of other entrepreneurs and many such factors play a role in the making of women entrepreneurs. Yet the potentiality and talent among the women is not identified adequately with only about ten percent of the women being entrepreneurs in some of the developing countries including India. At this critical juncture when the job market is down; these aspiring women entrepreneurs can be encouraged to set up the enterprises so that, apart from being independent they can employ people in their workforce. In the long run, these women can be the backbone of the regional as well as national economy. The paper is an attempt to understand the issues and initiatives in developing the entrepreneurship among women in India. For clarity and notwithstanding the broad theme, the paper is divided into few relevant sections. In section two, there is discussion on the importance of small and medium sized enterprises and how these sectors have played a crucial role in women's empowerment. The impact of globalization and use of local resources is included in this section. Section three is about the women entrepreneurs in India with a focus on both rural and urban women. The various problems and issues confronted by the women entrepreneurs are the other areas of discussion in this section. Strategies for strengthening women entrepreneurship is the focus of the next section. Appropriate training interventions and creation of market opportunities through community participation is discussed as sub sections of strategies. The last section of the paper is a discussion on the relevant policy issues. On the whole the paper would carry on the discussion that entrepreneurship among women has tremendous positive implications to empower them and contribute to economic transformation in the society.