39% of Registered Enterprises Led by Female Entrepreneurs: Govt Data

New Delhi, Jul 30 (KNN) In a significant development for India's business landscape, recent data reveals that women are making substantial strides in the Micro, Small, and Medium Enterprises (MSME) sector.

According to information shared by MSME Minister Jitan Ram Manjhi in the Lok Sabha, 39 per cent of enterprises registered under the revised 2020 MSME definition are owned by women.

As of July 25, 2024, out of approximately 4.78 crore Udyam-registered units, including those registered via the Udyam Assist Platform (UAP), a remarkable 1.84 crore enterprises are women-owned. This figure encompasses both formal and informal micro units, including those exempted from GST registration.

Minister Manjhi highlighted several government initiatives aimed at boosting women's participation in the MSME sector. Notable among these is the 2018 amendment to the Public Procurement Policy, which mandates Central Public Sector Enterprises (CPSEs) to procure at least 3 per cent of their annual requirements from women entrepreneurs.

Furthermore, the Credit Guarantee Scheme for Micro and Small Enterprises has introduced two provisions specifically benefiting women entrepreneurs, effective from December 1, 2022.

These include increased guarantee coverage of up to 85 per cent (compared to 75 per cent for others) and a 10 per cent concession in annual guarantee fees.

The government's commitment to empowering women in business is further evidenced by the launch of the Yashasvini initiative in June 2024. This campaign targets Tier-II and III towns, focusing on capacity building for women entrepreneurs.

While the current figures show significant progress, it's worth noting that just a year ago, in August 2023, the share of women-owned units among registered MSMEs stood at 19.43 per cent.

This dramatic increase underscores the effectiveness of recent government policies and initiatives in promoting women's entrepreneurship.

As India continues to focus on inclusive economic growth, the rising proportion of women-owned MSMEs represents a positive trend towards gender equality in the business sector.

With ongoing support and targeted initiatives, it's anticipated that women's participation in the MSME sector will continue to grow, contributing significantly to India's economic development.

(KNN Bureau)