Empowering Women Entrepreneurs through MSMEs in India-Development Policies and the Road Ahead

Abstract

Entrepreneurial ability possessed by both male and female bring innovation in the country and helpful to promote growth. It also creates sustainability along with the economic growth. Economic empowerment of women is one of the crucial goals among sustainable development goals (SDGs) targeted to be achieved by 2030. For economic empowerment of women the role of entrepreneurship is crucial. Medium, small and micro enterprises play critical role in economic development of the country from past five decades and become most vibrant and dynamic sector of Indian economy.  The present research article is formulated to critically analyse the role of women entrepreneurs in medium, small and micro enterprises (MSMEs) in India. This research article addresses the questions related with women empowerment and hurdles faced by them during their journey to become successful entrepreneurs. This article also highlights the policies and schemes initiatives taken by both central and state governments to promote women entrepreneurs. Further, this paper is based on secondary data arrange from research papers, MSMEs annual reposts, survey and reports of Niti Aayog, International Financial corporation (IFC) and Global Entrepreneurship Monitor (GEM). The research article revealed that now it seems Indian women entrepreneurs are more self-aware and risk taker due to financial literacy and increased education level. But this is not true in all cases because women entrepreneurs in India owned mainly micro enterprise and above all they are first generation women engaged in such business.