Bain & Company and Google released a report on Tuesday stating that there are four opportunity areas that can unlock women entrepreneurship in the country. This can generate up to 150-170 million jobs. This is more than 25% of the jobs required by the working population by 2030.
According to the report which is titled “Women Entrepreneurship in India – Powering the economy with her” states that efforts are required to grow women entrepreneurs in the country both quantitatively and qualitatively to solve the existing employment challenges in the country.
According to the report, there are 6 segments of women entrepreneurs and estimates that the country will have around 13.5 to 15.7 million women-owned enterprises which is approximately around 20% of total enterprises today.
Among all the women-owned enterprises, there exists a single person owner enterprise. This is majorly contributed by rural non-farm home-based owners with 38% followed by urban self-employed women, entrepreneurs, at 31%. This 31% usually works from home.
One of the other dominant areas includes rural entrepreneurs who work on agriculture and farm-based industries. This contributes to 18%. Small business owners contribute to 14%, which has total employees of less than 10. The final dominant area being enterprises with more than 10 employees and contribute to 1% of the whole women entrepreneurship.
This report states that despite the Indian economic growth in the last decade, the involvement of women in the labor force has been reduced. This is mainly due to social barriers and technological disruption. But once this women entrepreneurship is unlocked, it will create a lot of jobs in India. This will also deliver personal and social outcomes for women.
Spana Chadha, Senior COuntry marketing director, Google India has said that at google they will always invest in scaled skilling efforts across SMB’s, startups to reduce the gender gap with the help of the Internet Saathi program in the country.