Authored by: Aahna Srivastava, Anjali, Divya Atalkar, Khushi Shah and Sakshi Sharma

ABSTRACT 

Women’s entrepreneurship drives economic growth and promotes gender equality in India. Despite this, many women face financial and digital hurdles that hinder their involvement. Initiatives from the government, such as Stand-Up India and Mahila e-Haat, aim to provide financial support and access to digital marketplaces, helping women entrepreneurs thrive. This study uses various cases to illustrate these programs’ positive effects while addressing ongoing challenges like financial illiteracy and bureaucratic barriers. To overcome these challenges steps like financial inclusion, digital literacy, and mentorship opportunities, can be taken to empower women-led businesses and create a more inclusive economy. 

INTRODUCTION: 

“When women thrive, all of society benefits, and succeeding generations are given a better start in life.” — Kofi Annan 

In India, where male chauvinism still exists, women’s empowerment becomes a formal field to be studied and supported by the higher authorities for gender equality and the growth of the country, collectively. Women’s economic empowerment is not just a moral imperative but an economic necessity. Despite making up nearly half of India’s population, women’s financial independence remains limited due to restricted access to credit, digital platforms, and entrepreneurial opportunities. This research focuses on women-centric schemes which have helped women in finance and leadership roles. The work also highlights the challenges women face in the journey towards entrepreneurship and how some women overcome these hurdles and achieve success, setting examples that women as leaders in business are real.  

Recognizing the challenges faced by women, the Indian government has launched various women-centric financial initiatives, among which the Stand-Up India scheme and Mahila e-Haat scheme stand out for their direct impact on entrepreneurship, credit accessibility, and digital empowerment. 

DESCRIPTION OF SCHEMES AND THEIR IMPACT THROUGH CASE STUDIES: 

Stand-Up India Scheme – Breaking financial barriers 

Access to capital is one of the biggest hurdles for women entrepreneurs. The Stand-Up India Scheme, launched on April 5, 2016, by the Ministry of Finance, directly addresses this issue by providing collateral-free loans between ₹10 lakh and ₹1 crore, backed by government Credit Guarantee Fund, to at least one woman and one Schedule Caste (SC) or Schedule Tribe (ST) borrower per bank branch for setting up a greenfield enterprise (MyScheme, 2024).To facilitate credit flow under the scheme, the Union Finance Minister in the Budget speech of FY 2021-22 announced that the extent of margin money to be brought by the borrower has been reduced from ‘up to 25%’ to ‘up to 15%’ and in addition also included loans for activities allied to agriculture (Press Information Bureau, 2021). As of February 2024, nearly 2 lakh women entrepreneurs have benefited from this initiative, demonstrating its effectiveness (Inc42, 2024). The scheme has facilitated over 2.35 lakh loans to SC/ST and Women entrepreneurs across the country (Press Information Bureau, July 2024). With India targeting a $30 trillion economy by 2047, fostering women-led enterprises is crucial for long-term economic growth (Bain & Company, 2024). 

Economic Impact of Stand-Up India Scheme 

Women-led businesses are a vital component of India’s economic growth, studies show that enhancing women’s entrepreneurship and increasing their participation can significantly boost the country’s GDP. The Stand-Up India Scheme plays a crucial role in this growth by providing financial assistance and promoting inclusive economic participation.  

Case 1 – Kullu District’s Standup India 

Kullu district has been facing economic difficulties, particularly for women and SC/ST entrepreneurs who have been struggling to secure financial support. Through the Stand-Up India Scheme, the District Level Consultative Committee (DLCC) helped facilitate 24 loans totaling ₹4.53 crore across 20 bank branches, creating job opportunities for over 2,000 young people. The loan disbursement process was also made efficient, typically taking 15-20 days. Financial literacy camps, easier business registration processes, and skill training programs have also been set up to empower these entrepreneurs This initiative has promoted economic self-reliance, demonstrating that collaboration among banks, government agencies, and local communities can effectively foster sustainable entrepreneurship (NITI Aayog, success stories). 

Case 2 – Rupali Sarkar  

Another success story is of Mrs. Rupali Sarkar, owner of M/s Rupali Sarkar in West Bengal. Engaged in the manufacturing of ‘Tant sarees’, Mrs. Sarkar faced initial marketing challenges, financial management, and market penetration. However, with the help of government-sponsored entrepreneurship training programs and a loan of ₹10.50 lakhs sanctioned under the Stand-Up India Scheme by the Allahabad Bank, Teorkhali branch, she was able to overcome these challenges. Her enterprise has since achieved a monthly turnover of ₹4 lakhs around, creating job opportunities and contributing to the local economy (Emerging Entrepreneur E-Book SIDBI, 2017). 

These case studies exemplify how the Stand-Up India Scheme empowers women entrepreneurs, enabling them to start and grow their businesses, thus promoting economic growth at the grassroots level.  

Despite its success, the Stand-Up India Scheme has faced several challenges, such as bureaucratic red tape, lack of awareness among women entrepreneurs, and difficulties meeting loan eligibility criteria. To improve its effectiveness, outreach programs, simplified loan application processes, and financial literacy campaigns should be introduced. Additionally, partnerships among banks, non-governmental organizations (NGOs), and self-help groups (SHGs) can also help women manage financial complexities (KPMG, 2023). 

                      https://drive.google.com/file/d/1ExfkGaZSmnA6-KLxF-kPOfgnl_-OstbU/view?usp=sharing

(Fig.1: Growth in Women Entrepreneurs under Stand-Up India (2016-2024), according to Press Information Bureau)

Mahila e-Haat Scheme – Empowering women through digital platforms 

In the digital age, access to online markets is essential for business success. The Mahila e-Haat scheme, a bilingual online platform, launched on March 7, 2016, by the Ministry of Women and Child Development (MWCD) under the Rashtriya Mahila Kosh (RMK), provides women entrepreneurs, self-help groups (SHGs), and NGOs a direct platform to showcase and sell their products without intermediaries (Kotak Life, 2024), which allows them to connect with customers across various regional demographics. 

This platform is a significant step towards overcoming barriers faced by women in accessing markets, capital, and business networks. With India’s e-commerce industry expected to reach $350 billion by 2030, integrating women entrepreneurs into digital platforms is a step toward inclusive economic growth (Press Information Bureau, 2024). 

Challenges in Women’s Digital Empowerment  

Although digital access is rising, hurdles like digital literacy, cybersecurity concerns, and limited internet access in rural areas continue to hinder women’s full participation in e-commerce (Deloitte, 2023).  

Case 1 – Shruti Shrivastava   

Shruti Shrivastava, a home baker from Noida, Uttar Pradesh, started “Flavour Basket” to sell homemade cakes and sweets. She joined Mahila e-Haat to broaden her reach beyond local recommendations. However, the platform did not significantly boost her sales due to limited marketing and customer traffic. To overcome this, she adopted a multi-channel strategy, utilizing social media and personal networks with Mahila e-Haat (DNA India, 2016).  

Case 2- Meera Sharma   

Another case is of Meera Sharma, a 28-year-old artisan from Rajasthan who specializes in traditional handloom textiles, faced challenges to compete with mass-produced alternatives. By registering on Mahila e-Haat, she gained some exposure and received training in digital literacy but didn’t receive any significant customers through the portals thus she collaborated with reliable shipping partners to expand her reach and sales (vyaparify site).  

These case studies show that while Mahila e-Haat has effectively offered women entrepreneurs opportunities for digital exposure and skill development, its influence on overall sales and financial independence is still constrained due to insufficient marketing and logistical support of the platform. The government should aim at increasing platform visibility, incorporating improved payment solutions, and offering targeted financial assistance to empower more women in the digital economy. 

                          https://drive.google.com/file/d/14kE0xZKjusk_v4YHgHqMQP2-liwuJP1U/view?usp=sharing

(Fig.2: Registration on Mahila e-Haat (2016-2024), according to a report from the Economic Advisory Council to the Prime Minister)

How a woman entrepreneur can leverage both Stand-Up India and Mahila-E-Haat Scheme: 

In contemporary India, the landscape of entrepreneurship is rapidly evolving, driven by advancements in technology and a growing emphasis on development. However, despite these positive enhancements, women entrepreneurs continue to encounter significant challenges. Therefore, to overcome these challenges, synergizing both the Stand-Up India Scheme and Mahila e-Haat could be transformative for women entrepreneurs. The integration of these two initiatives creates a powerful ecosystem for women entrepreneurs. With access to financial resources through the Stand-Up India Scheme, women can confidently establish their businesses. Meanwhile, Mahila E-Haat equips them with the tools to market their products effectively, connect with customers, and grow their brands. By leveraging these government schemes, women are breaking barriers, creating jobs, and contributing to the economy in meaningful ways. 

In essence, the synergistic power of the Stand-Up India Scheme and Mahila E-Haat is paving the way for a new era of women entrepreneurs in India, empowering them to transform their dreams into reality and make significant contributions to the economy and society. 

CURRENT OVERVIEW OF WOMEN ENTREPRENEURS IN INDIA: 

Women entrepreneurs have made remarkable contributions to the Indian economy. Over the last two years, women’s participation in entrepreneurial sectors of India has increased by 66%, which is from 21.8 million (2021-22) to 36.2 million (2023-24), according to Sumit Kumar, Chief Strategy officer, of TeamLease Degree Apprenticeship (The Economic Times, 2024). In India, there are nearly 63 million enterprises as per the ‘Year End Review –2024’ report shared by the Ministry of Micro, Small, and Medium Enterprises (MoMSMEs). Out of the total, nearly 40% of it is women-owned (PIB, 2024), employing 41.7% of the working population, according to the Ministry of Women and Child Development (PIB, 2025).  

Although India is the world’s 3rd largest startup ecosystem, it holds 70th rank among 77 nations in the Global Female Entrepreneurship Index (FEI) as estimated by the Global Entrepreneurship and Development Institute and ranked 57th among 65 nations, in the Mastercard Index on Women Entrepreneurship (MIWE) 2021. 

Today, women entrepreneurs across the country are supported by various schemes launched by the central government and Indian banks. Despite the presence of various schemes, limited managerial ability, especially among rural women, leave women behind in the entrepreneurial world, retarding their advancement to leadership positions. Therefore, to support and encourage entrepreneurship among women, the Ministry of MSME has implemented Skill Upgradation and Mahila Coir Yojana under Coir Vikas Yojana to enhance skill development through exclusive training among women artisans engaged in the coir sector (PIB,2024). In addition, the Yashasvini Campaign has also been launched to empower women entrepreneurs through various schemes on formalization, access to credit capacity building, and mentorship through awareness generation about the schemes (PIB, 2024). Furthermore, recognizing the importance of women entrepreneurs in economic growth, the Guarantee coverage has been enhanced for women-owned enterprises from 85% to 90% (PIB, 2025). Additionally, a scheme for 5 lakh first-time women and SC/ST entrepreneurs will provide term loans up to Rs. 2 crores over five years, incorporating lessons from the Stand-Up India Scheme (PIB, 2025). So far, through the Public Procurement Policy, mandating Central Ministries/Departments/Undertaking to procure at least 3% of their annual procurement from women entrepreneurs, 17817 women have benefited, according to annual women procurement data for FY 2024-25 (MSME Sambandh, 2024).

(Fig.3: Report on top States/UTs-wise share of women-owned MSMEs (PIB, 2024))

CONCLUSION: 

In this new age, strengthening women’s financial and digital inclusion is essential for driving economic growth and creating a more equitable society. While initiatives like Stand-Up India and Mahila e-Haat have made notable progress, obstacles like financial illiteracy, poor marketing, and institutional biases persist. Future efforts should aim to raise awareness, simplify loan access, and strengthen digital marketplace visibility for women entrepreneurs.  

Furthermore, creating opportunities for women to learn finances, networking, and entrepreneurship through mentorship programs, can help women accelerate careers. Simultaneously, Public-private partnerships and accessible funds for women-led ventures can boost the country’s progress.

By making a more inclusive ecosystem, India can unlock the full potential of its women-led enterprises, paving the way for sustainable economic growth and social equity. Investing in women’s economic empowerment is not just a policy initiative but a transformative movement that will help India use its youth’s potential for future prosperity. 

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For Fig. 1 you can refer to the data of this site https://www.pib.gov.in/PressReleasePage.aspx?PRID=1913705/

For Fig. 2 you can refer to the data of this site https://eacpm.gov.in/wp-content/uploads/2022/11/Status-of-Women-in-India.pdf/

For Fig.3 you can refer to this data set https://pib.gov.in/PressReleasePage.aspx?PRID=2083806