Finance Minister Highlights Growing Role of Women in Indian Businesses

SUMMARY

Finance Minister Sitharaman spoke at the launch of Swiggy's "She the Change" program, highlighting the increasing role of women in Indian businesses.

Women are filling more board seats (18.3% vs 13.8% in 2018) and leading startups (20 out of 111 unicorns).

Government policies like Stand Up India and Mudra loans are heavily directed towards women entrepreneurs.

Swiggy's platform supports over 50,000 women-run restaurants, creating an estimated 300,000 jobs.

Finance Minister Nirmala Sitharaman addressed the launch of Swiggy's "She the Change" initiative, emphasizing the increasing participation of women in Indian businesses. Here are the key takeaways:

Women in Leadership: Sitharaman pointed to a rise in women on company boards, from 13.8% in 2018 to 18.3% today. The number of women-led startups among India's 111 unicorns (billion-dollar startups) stands at 20.

Government Support for Women Entrepreneurs: The minister highlighted government policies promoting women's entrepreneurship. These include:

Stand Up India Scheme: 80% of allocated funds are directed towards women entrepreneurs.

SIDBI Fund of Funds: Nearly 10% is reserved for women-backed startups.

PM Mudra Scheme: 70% of sanctioned loans are for women, benefiting around 30 crore women.

Public Procurement Policy: The government mandates at least 3% of annual purchases from women-owned businesses.

Swiggy's "She the Change" Initiative:

Swiggy, the food delivery platform, launched "She the Change" to recognize the contribution of food delivery in fostering women's entrepreneurship. Here's what Swiggy offers:

Women-Run Restaurants: Over 50,000 women-run restaurants on the platform, generating an estimated 300,000 jobs.

Swiggy incurred a net loss of INR 4,179.3 crore in FY23, while its operating revenue jumped over 40% to INR 8,264.4 crore during the same period.

Conclusion:

The growing role of women in Indian businesses, supported by both government policies and initiatives like Swiggy's "She the Change." It emphasizes the economic impact of women entrepreneurs and the potential of the food delivery sector in nurturing women-led businesses.