Electronics and electrical waste items are generally referred to as E-wastes. It is also known...
Micro Small and Medium Enterprises (MSME) are the backbones of the Indian economy. Over the past few decades, the MSME sector has surfaced as a dynamic and vibrant sector of the Indian economy. These enterprises provide employment at the rural level at low capital investment. MSMEs are distinctive from large industries in a way that requires less capital investment; however, it gives an employment opportunity to a large sum of people. MSME sector is the second-highest employment provider after the Agricultural sector of the country. MSMEs have also led to a growth in the number of women entrepreneurs.
Over the years, India has seen a shift from family-based business to innovations and startups by young budding entrepreneurs. The government has launched several MSME schemes to support new ideas that lack the capital to start a business. On a good note, over the past years, India has seen positive growth in the number of women entrepreneurs. Girl education is being emphasized by the government of India, which is ultimately boosting the confidence of Indian women and making them more ambitious, self-dependent and shaping them into leading women entrepreneurs.
Over the past few years, India has seen a growth in the number of Indian women pursuing a career as an entrepreneur. In present times Indian women are educated, smart, talented, ambitious and are coming out in large numbers to start up their business ventures. The government is playing its part in empowering women and in promoting more women entrepreneurs.
Various banks and institutions provide financial support to aspiring women entrepreneurs in the form of loans, schemes, etc. Aditi Gupta founder of Menstrupedia, Chitra Gurani Daga, co-founder of Thrillophilia are some of the leading women entrepreneurs of the country. MSMEs have led to women empowerment on a global platform. Indian Government has been making continuous efforts in transforming the roles of Indian women outside the four walls of their homes.
MSMEs create a majority of new jobs and help in the economic progress of the country. Women are also taking equal part in entrepreneurship ventures. Although the number of women business owners is substantially less than the male entrepreneurs in India, still Indian has shown some improvement in the growth of women entrepreneurs. To strengthen women empowerment in the business sphere, both Central and State governments have launched a financial constituent to uplift women entrepreneurship in India.
Women have been among the oppressed section of our country in many spheres of life. The government launched a scheme titled Trade Related Entrepreneurship Assistance and Development (TREAD) which aims at the economic empowerment of women. As per this scheme, the government grants up to 30% of the total project cost as decided by the lending institutions which finance the rest 70% as a loan to the applicant women. Women who are illiterate, poor and are not able to provide adequate security as demanded by the bank, government grant and the loan provided the lending institutions is routed through NGOs engaged in helping poor women. The government also grants up to Rs 1 lakh per program to training institutions and NGOs for giving training to women entrepreneurs.
This scheme launched by the government is a women-oriented employment scheme in the coir industry, to provide employment opportunities to rural women artisans. Under this scheme, motorized rats are distributed for spinning coir yarns to women artisans. Women spinners are trained for about two months in the spinning coir Board. The spinning coir Board also gives subsidy on traditional motorized rats.
This bank offers two schemes to women entrepreneurs, namely Annapurna Scheme and Stree Shakti Scheme.
This scheme was launched by the bank to help women who want to start food catering units. Banks offer a loan up to Rs 50,000 to women wishing to start a food catering business. The loan provided by the bank can be used for buying kitchen utensils, gas connections, and other business-related expenses. The repayment period for this loan provided by SBM is 3 years.
The State Bank of Mysore offers this loan to women who have undergone an Entrepreneurship Development Programme (EDP) training. EDP training may extend up to 6-8 weeks which aims at planning, initiating and launching an enterprise successfully. Under this scheme, the bank offers a loan up to Rs 50 lakhs.
PNB offers 5 schemes for women entrepreneurs. Different schemes offered by PNB are as follows:
This scheme launched by PNB provides financial assistance to women who wish to open a boutique, beauty parlors, cyber cafes, telephone booths, etc.
This scheme of Punjab National Bank supports women who wish to start a new small-scale venture. Under this scheme, the women entrepreneurs are assisted in setting up new projects in the small scale sector. Already existing small scale industrial units undertaking technology up-gradation can also benefit from the scheme.
This scheme of Punjab National Bank provides financial assistance to women who intend to establish a small and micro-enterprise in the non- farm sector.
To cater to women entrepreneurs Syndicate bank launched a scheme named Synd Mahila Shakti. This scheme launched by the Syndicate bank targets both new and current women entrepreneurs. This scheme offers cash credit to meet the working capital requirement or a loan scheme up to a time period of ten years. Any business seeking this loan should have women owning 50% of the financial holding.
The women have achieved immense success over the years in changing the perception of a male-dominated society. In present times women have the skill, talent, and moreover a zeal to create something new. Women are in no way behind the man and are excelling in every sphere of their life. In the past few decades, women are entering the field of entrepreneurship and excelling in it. The government is offering various schemes to help out women entrepreneurs in achieving their goals. MSME sector has also been offering new opportunities to women at the grass-root level.