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In a pivotal part of the Interim Budget 2024, India’s Finance Minister Nirmala Sitharaman laid out the country’s plan to achieve net-zero carbon emissions targets. This highlighted the important role of green development in the country’s growth. At the same time, she emphasized the government’s strong support for women’s entrepreneurship as a catalyst for progress. These advances are in line with India’s Sustainable Development Goals commitments and represent significant progress towards Vikshit Bharat (Developed India), further propelling India towards an equitable green economy.
Members of the Self-Employed Women’s Association (SEWA) watch as instructors demonstrate different methods. … [+]
Since 2015, India has extended MUDRA Yojana loans worth JPY 30 billion to women entrepreneurs, providing strong support for the development of women-led enterprises. The scheme provides loans of up to Rs 1 million to unincorporated, non-agricultural small, medium, and micro enterprises. Complementing the growth of entrepreneurs, India also reported her 28% increase.[i] Female enrollment in higher education is increasing, with women accounting for a staggering 43% of enrollments in STEM courses. This shows the immense potential for women to participate in fostering innovation for the development of green solutions.
It is critical that we continue to build on this growth by leveraging formal infrastructure, supportive ecosystems, and accessible data, especially when it comes to the impacts of climate change. India has 63 million micro, small and medium enterprises (MSMEs), of which around 20% are women-owned, employing 22 million to 27 million people. India also has around 12 million self-help groups, a remarkable 88% of which are led by women. The self-help group initiative, which began in 1992, has become the world’s largest microfinance project, providing savings deposits totaling Rs 47,240 billion to 142 million households. The Global Alliance for Mass Entrepreneurship (GAME) also demonstrates the power of targeted interventions in promoting green growth for women.
The impact of women’s entrepreneurship extends beyond economic growth to social and environmental aspects. Women-led companies often prioritize community well-being, transparent reporting, and environmental stewardship, and leverage innovative approaches to address pressing challenges. For example, SEWA (Self-Employed Women’s Association) has empowered its members to fight climate change through its existing network of one million small-scale entrepreneurs and artisans. Many of our members work in the salt pans of the Little Rann of Kutch, where they experience long periods of scorching heat and lose wages as a result. The India Heatwave Income Insurance Initiative, launched by SEWA, the Adrienne Arsht Rockefeller Foundation Resilience Center (Arsht Rock), and Blue Marble with support from the Rockefeller Foundation, aims to reduce wages lost due to climate change heatwaves. We are helping women regain their . Similarly, her GAME contribution in building the Women Entrepreneurship Platform has helped in areas such as promoting mentorship and access to finance, thereby fostering an ecosystem that nurtures women entrepreneurs across India. Ta.
The role of women entrepreneurs in driving inclusive economic growth cannot be overstated. Women entrepreneurs not only generate income for themselves and their families, but also reinvest in their communities, thereby creating positive socio-economic spillovers. Promoting entrepreneurship opportunities for women can reduce gender gaps in employment and contribute to poverty alleviation. Targeted interventions to address the unique needs of women in different regions and sectors, particularly in clean energy and climate-resilient agriculture, will be the best next step. Piloting new policy and research design models is essential to promoting mass female entrepreneurship in the sustainable development nexus.
Women entrepreneurs are not just agents of change. They are the architects of a sustainable future. We must support women-led initiatives to build a more inclusive, fair and sustainable future for future generations. We must collectively encourage and build an environment where women can flourish and share their learnings and insights while tackling climate change. Financial support, a more favorable policy canvas, skills and educational opportunities, supportive social connections, and the presence of existing green networks and alliances will compel more women to jump into climate entrepreneurship. right. This will also increase women’s workforce participation by creating more jobs in India and supporting Nari Shakti (women’s power) goals in the areas of green technology, climate solutions and sustainable development. will promote
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