GS-PAPER-II/ Governance

Context– Women Entrepreneurship Program (WEP) inspire women to start businesses. This leads to more job creation for women which ultimately helps in reducing the gender gap in the workforce, generating employment opportunities in the country, bringing in demographic shifts and inspiring the next generation of women founders.

The increasing presence of women as entrepreneurs has led to significant business and economic growth in the country. With a vision to promote the sustainable development of women entrepreneurs for balanced growth in the country,

Startup India is committed towards strengthening women entrepreneurship in India through initiatives, schemes, creation of enabling networks and communities and activating partnerships among diverse stakeholders in the startup ecosystem.

In accordance with National Skill Development Corporation (NSDC) introduced the Women Entrepreneurship Programme (WEP), that is a public-private partnership platform incubated at Niti Aayog and aims to create an empowering, enabling ecosystem for women entrepreneurs, and spurring economic growth in India.

About (WEP)

• The initiative is designed to empower 2.5 million women throughout India by equipping them with the skills, knowledge, and resources necessary to launch and develop successful businesses.
• The program is structured in two phases: initially, NSDC, in collaboration with the National Institute for Entrepreneurship and Small Business Development (NIESBUD), will provide free online self-learning entrepreneurship courses via the Skill India Digital Hub (SIDH).
• In the subsequent phase, NSDC will offer incubation support to 10,000 selected participants working on 100 different business models.
• Ministry of Tribal Affairs and Rural Development, is crucial for supporting the growth of women entrepreneurs. This partnership focuses on providing targeted skill training to Women’s Self-Help Groups, enabling them to establish successful businesses.

Some other Government Initiatives for Women Entrepreneur

• Mudra Loan– It provides specialized credit solutions for women entrepreneurs, delivering financial assistance tailored to businesses and start-ups that are led by women.
• Stand-up India scheme– It supports women’s entrepreneurship by providing easy access to financing, aiming to encourage self-employment and the growth of women-led business ventures.
• Trade Related Entrepreneurship Assistance and Development – The scheme aims to empower women economically by offering trade-related training, information, and counselling, as well as extending support in various trades, products, and services.

Challenges Facing Women Entrepreneurs in India needs to Overcome:-

• Access to Finance: Securing funding is often difficult for women entrepreneurs due to biases and gender-based discrimination in financial institutions, as well as a lack of collateral.
• Societal Norms and Bias: Traditional gender roles and societal expectations can hinder women’s entrepreneurial efforts, leading to lower support from family and community.
• Limited Networking Opportunities: Women often have fewer opportunities to connect with mentors, investors, and industry networks, which are crucial for business growth and support.
• Balancing Work and Family: Women entrepreneurs often face the dual challenge of managing their businesses while also fulfilling family responsibilities, which can affect their ability to focus and scale their enterprises.
• Market Access: Women entrepreneurs may struggle with gaining access to markets, distribution channels, and customers, which can limit their business growth and scalability.
• Technology and Infrastructure Gaps: Limited access to technology and infrastructure, especially in rural areas, can impede the efficiency and reach of women-led businesses.

National Skill Development Corporation

• The National Skill Development Corporation (NSDC) is a not-for-profit public limited company established on July 31, 2008, under Section 25 of the Companies Act, 1956, which corresponds to Section 8 of the Companies Act, 2013.
• It operates as a Public Private Partnership (PPP) entity under the Ministry of Skill Development & Entrepreneurship (MSDE) of the Government of India.
• NSDC aims to advance skill development by driving the establishment of large, high-quality, and profitable vocational institutions.
• The organization provides financial support to develop scalable and profitable vocational training programs.
• Its mandate also includes establishing a support system that emphasizes quality assurance, information systems, and train-the-trainer academies, either directly or through partnerships.

Conclusion

 Women Entrepreneurship Programme is a crucial initiative for empowering women across India by providing essential skills, resources, and support. It addresses barriers such as limited access to credit and market opportunities through targeted training, financial assistance, and incubation support. Collaborations with various ministries and institutions enhance its effectiveness, promoting both self-employment and broader economic development while advancing gender equality.

Source – PIB