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ICT for Women Entrepreneurs in MSMEs in India

ICT for Women Entrepreneurs in MSMEs in India

Atul Narayan Fegade (Balaji Institute of Modern Management, India), Sushil Kumar Gupta (Dr. Vishwanath Karad MIT World Peace University, India), and Vishnu Maya Rai (Dr. Vishwanath Karad MIT World Peace University, India)
Copyright: © 2023 |Pages: 9
DOI: 10.4018/978-1-6684-6118-1.ch005
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Abstract

The micro, small, and medium enterprises (MSMEs) are the backbone of Indian economy. MSMEs have significant contributions in the entrepreneurial activities in India. There is special focus on women-owned enterprises by Ministry of MSME with offering many schemes. The economic empowerment of women can be achieved through promoting micro and small-scale industries of women. This would also help in reducing poverty and gender inequality. The percentage of female population in India as per the 2011 census is 48.49%, and as per the MSME Ministry's Annual Report 2020-21, only 20% of the 63 million MSMEs in India are owned by women. India ranks a lowly 70th among 77 countries covered in the Female Entrepreneurship Index. It also has the third-highest gender gap in entrepreneurship across the world. Only 33% of early-stage entrepreneurs in India are women; male entrepreneurial activity rates exceed female entrepreneurial rates by 7%.
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Summary Of Various Global Level Reports On Women Entrepreneurs

Data says that women entrepreneurs are increasing every year globally. Latest news says that women lead half of the start-ups in 2021 in the US. It was 28% in 2019 but increased in 2021 as 49% women entrepreneurs. Web domain company GoDaddy has found during a survey that women run almost 40% of UK Microbusiness. Not only is the developed countries but also in the developing countries the numbers in women entrepreneurship increasing day by day.

Figure 1.

Women entrepreneurs status

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Above figure explains that women entrepreneurs in MSME sectors are more in Latin America & Caribbean around 50%, East Asia & Pacific is the second largest continent with 47% as women entrepreneurs. However, the position of India, which comes in South Asia, is still in the nascent stage at only 18%. Still a lot of scope of improvement is required for South Asia.

Figure 2.

Gender gap in entrepreneurship by region

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Source: World Economic forum.

Figure 2 explained that due to the pandemic women, gets affected more in the jobs and they are having more responsibilities in caring and homeschooling because of this, women’s participation in the workforce has fallen from 60.1% in the 2021 edition of the Forum’s 146-country report to 51.7% this year. However, the gender gap closed to the date is lower in South Asia (62.3%) in comparison to the other continents.

Women entrepreneurs Expo 2021 data says that around 98 women entrepreneurs created expo booths in the exhibition. Around 40% women are between the age of 30 to 39 years and around 70% are from the vulnerable section of the society. Data also suggest that 63% women have a business presence through online.

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