ESCAP, Goldman Sachs 10,000 Women initiative and FICCI hold national consultation to explore ways to promote and facilitate entrepreneurship among women in India

While women constitute roughly half of India’s population, they are strikingly underrepresented in the labour force (at 31 per cent) and even more scarcely so among entrepreneurs. Merely 13 per cent of entrepreneurs in India are women. Change, however, is on its way.
 
A regional programme to promote an enabling policy environment for entrepreneurship for women in four countries (China, India, Indonesia and Malaysia) in Asia and the Pacific implemented by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), in partnership with Goldman Sachs 10,000  Women initiative, aims to identify strategies to promote better opportunities for women entrepreneurs, as well as enhance multi-ministerial coordination and partnerships for greater policy impact in this area.
 
As part of this programme, the National Consultation on Creating an Enabling Environment for Women’s Entrepreneurship in India, convened on 19 February 2013 in New Delhi, brought together some 150 participants, including Government officials, the private sector, women entrepreneurs, representatives of United Nations agencies and other development partners as well as academia. The Consultation was co-organized by ESCAP and the Federation of Indian Chambers of Commerce and Industry (FICCI) Ladies Organization, in partnership with Goldman Sachs 10,000 Women initiative.
 
“Women’s entrepreneurship is an essential driver of economic growth. You really get to the core of the issue by tackling the challenges women entrepreneurs face and by creating an enabling environment for them”, stated Dr. Syeda Hameed, Member, Planning Commission, Government of India during the inaugural session. “This is a wake-up call and a game changer for women”, Dr. Hameed underscored, commending ESCAP and Goldman Sachs for the timely and relevant initiative.
 
“Gender equality and women‘s empowerment are central to the achievement of the Millennium Development Goals and to inclusive development,” said Dr. Nagesh Kumar, Director, ESCAP South and South-West Asia Office.  “Many inspiring examples of highly successful women entrepreneurs exist in India, some of whom are present today… Let us together explore ways to break the glass ceiling”, Dr. Kumar noted.
 
“Despite all the social hurdles, India offers immense potential for the success story of women entrepreneurs,” stated Ms. Kavitha Varadaraj, President FICCI-FLO.
 
Ms. Erin Walsh, Head of Corporate Engagement for Asia-Pacific, Goldman Sachs highlighted the 10,000 Women Initiative which is a five-year campaign aimed at fostering greater shared economic growth by providing 10,000 underserved women around the world with a business and management education.  Data shows immediate improvements in women’s businesses and 18 months after graduation, 80% of scholars increased revenues over the previous year, 66% have added jobs and 90% of scholars mentor others in their families and communities. Goldman Sachs 10,000 Women initiative has partnered with the Indian School of Business in India, and will enroll 1,500 scholars in 13 cities in 11 states across the country by the end of 2013.
 
The outcome of the National Consultation will feed into a regional forum to be held in April 2013 in China. “Enabling women to have greater economic independence is a powerful pathway out of poverty. The programme will strengthen the evidence base to promote an enabling policy and legal environment for women’s economic participation, particularly through entrepreneurship,” said Cai Cai, Chief of the Gender Equality and Women’s Empowerment Section of the Social Development Division of ESCAP.
 
The National Consultation reviewed the findings and policy recommendations of a study conducted under the project by Ms. Hina Shah, Director, International Center for Entrepreneurship and Career Development, Ahmedabad, India.
 
Establishing a national women entrepreneurship fund, women entrepreneurs’ guidance and training cells, lowering interest rates on business loans for women entrepreneurs, encouraging the creation of industrial sheds with quality child care, were among the many recommendations brought forward by the Consultation.
 
Although the critical mass of women entrepreneurs in India called for by participants is still not yet a reality, the energy, passion and formidable force for change that women entrepreneurs represent is already evident and on the move.