Smriti Irani, the Union Minister for Women and Child Development spoke at the India Tech Week held in Mumbai on Sunday. In her conversation, the Union Minister highlighted the lack of support women entrepreneurs receive from financial institutions. She also made a heartfelt appeal to financial institutions to trust and support the capability of female entrepreneurs who intend to foray into the world of business.
Smriti Irani shed light on the adverse impact of VCs apprehension in supporting women entrepreneurs on the growth of women-led businesses in India. She also touched upon the fact that VCs are far more comfortable in placing their bets on male founders.
While speaking at the event the Union Minister said that according to available data, one can infer that ‘loans given to women are most secured’. She also stressed the need for women entrepreneurs to receive cooperation from financial institutions when it comes to raising funds for business.
In her speech, Smriti Irani also mentioned the plethora of schemes launched by the Modi government including Swanidhi and Mudra loans for self-help groups.
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