The world's largest express transportation company, Federal Express Corporation (FedEx), is partnering with United Way Mumbai to support inclusive entrepreneurship in India through its Saksham Initiative. Started in 2021, the initiative provides resources, training, and mentorship to minority entrepreneurs in various sectors.
FedEx’s alliance with the local humanitarian partner aims to support underserved entrepreneurs, offering resources and guidance to foster a diverse and dynamic economy in India. The Saksham initiative supports women and LGBTQIA+ small business owners in India offering curated business kits that help beneficiaries build sustainable businesses in various sectors including, tailoring, food services, and beauty services, to meet the local demands in the market.
FedEx Global Entrepreneurship CSR, Saksham initiative has resulted as a transformative step promoting economic self-reliance. It has significantly impacted the LGBTQIA+ community in India. 38 per cent of participants earn an average annual income of Rs 61,176. The initiative has also led to transformative outcomes, with 90 per cent of participants securing employment or becoming self-employed, and 68 per cent in private sector roles, whereas 23 per cent have self-employed ventures in varied sectors.
FedEx, Vice President, India Operations, Suvendu Choudhury mentioned "Small and medium enterprises (SMEs) are driving force for economic growth, yet many entrepreneurs lack the resources to succeed. The Saksham initiative helps bridge that gap for women and LGBTQIA+ entrepreneurs, providing them with essential resources and clear pathways to self-sufficiency. We are committed to helping them thrive within India's SME ecosystem and to support India's goals for inclusive long-term economic development."
