By Harish Pant
Even after India is declared 100th in Ease of Doing Business by the World Bank, the rating on hardships and multitude of obstacles faced by Indian entrepreneurs will score a clear century. For an economy on its way to becoming the third-largest in the world, it has to up its game to be in the league of the top 10 in the Ease of Business and for that, creating a supportive environment for entrepreneurship is much needed.
Situation for women entrepreneurs in India
The friction of corruption, infrastructure woes, costly imports and time delays, to name a few hindrances, are enough to discourage entrepreneurs and because of these, research and development take a back seat altogether. Restrictive labour laws and practices do not help either. Even the male counterpart feels challenged to operate in such an environment. Hence, most women entrepreneurs find a sweet spot in retail and service industry, which are mainly technology-driven and relatively easy to manage. Young women entering the commercial world get a job mostly in services and industries which fit their dual roles of family and work.
Managing the constantly increasing demand in this ever-increasing complex world requires not only core capabilities and capacities but also the talent to innovate, assimilate and integrate with a collaborative environment operating on excellent soft skills, human orientation, and sustainable approach. Women, rather than men, are presumed to come with natural capabilities to connect these disparate dots. With a womens job already taken, they are increasingly expanding their horizon in new fields and shouldering men to equip organisations in dealing with disruptive changes and creating excellence in human endeavour.
Manufacturing has been a bastion of men but we find textile, pharma, construction, automotive and even aerospace, with an increasing number of women being employed. New sectors like IT, ITES and fintech have been sweet spots for women due to progressive human resource policies and excellent working conditions, as compared to other sectors. With increasing mechanisation and automation, it is now possible for women to work in most of the sectors with ease. However, women’s participation in manufacturing, political and leadership roles has been very limited due to the lack of a conducive environment thus reflecting the number of women who emerge as entrepreneurs in the country.
Possible solutions and efforts taken for women
A multi-pronged approach to education, employment, training, skill development, and a socially conducive environment are required to encourage women entrepreneurs. As an impetus to women participation, a percent of critical leadership position must be reserved for women. The centre and various other state governments have announced various policy measures to increase women’s participation. There has also been a constant increase in the admission of female students in various streams of education. Recently, the Karnataka state government announced a loan up to Rs. 2 crores to women entrepreneurs at a 6% interest rate. ‘Start-up India’ also has special provisions for women entrepreneurs.
With employment generation at a rate much lower than population growth, and newer technologies reducing manpower requirement in core manufacturing, now is the best time to support and encourage more and more women entrepreneurs in India. India has the highest demographic of the employable population, making it necessary to emphasise the role of women and the importance of equality in the workplace.
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