Bain and Co. and Google shared a joint report titled "Women Entrepreneurship in India - Powering the Economy with Her" which reveals that women entrepreneurs in India have the potential to generate 150-170 million jobs by 2030, accounting for over 25 per cent of the new jobs needed for the entire working-age population. This growth could enhance economic development, innovation, and productivity. However, challenges like limited capital access, gender bias, and societal expectations pose challenges. A supportive ecosystem is crucial for fostering women-led entrepreneurship.
Megha Chawla, Partner, Bain and Co., mentions "There are an estimated 16 million women-owned and controlled enterprises representing approximately 20 per cent of all enterprises today that are creating direct employment of about 27 million people in India. However, in order to enable women entrepreneurs to start up and scale, we will be able to increase direct employment by 50-60 million people, taking the total number of jobs to 150-170 million by 2030."
She further stated that a decline in women's labor force participation has been noticed, despite India's economic progress. This is due to labor trends, technological disruption, and social barriers. Unlocking entrepreneurship among women presents an opportunity to change the country's economic and social trajectory, driving job creation and delivering transformational outcomes. The report also emphasizes equal access to finance and gender responsiveness across the financing sector.
