Women entrepreneurs are driving economic growth and transforming the business landscape in India. In recent years, the number of women who are taking up entrepreneurship has been on the rise, and this trend is expected to continue in the future. This trend is marking a significant on the Indian economy.
In this article, we will be talking about 10 Indian women entrepreneurs who have successfully started their businesses and how they are making an impact in Indian economy.
Before we talk about these women, let us have a look at the 5 major impacts that these women entrepreneurs are making in the Indian economy.
1. Creating job opportunities for others: As these women start their businesses, they create job opportunities for others, especially women. This, in turn, helps to reduce the unemployment rate and improve the standard of living of many people. According to a report by the National Sample Survey Organization (NSSO), women entrepreneurs in India have created over 8 million jobs, and this number is expected to increase in the future.
2. Contribution to GDP:
According to a report by McKinsey Global Institute, India's GDP could increase by 16-60% by 2025 if women's participation in the economy is increased. As they start and grow their businesses, they contribute to the country's Gross Domestic Product (GDP).
3. Diversity in the business landscape: Women are introducing new ideas, products, and services that are unique to them. They are bringing diversity to the business landscape, which is essential for the growth of the economy. Diversity is important because it encourages creativity and innovation, and it leads to better decision-making and problem-solving.
4. Promoting social change: Women entrepreneurs are challenging gender stereotypes and breaking down barriers that have limited women's participation in the economy. They are promoting social change by empowering other women and inspiring them to pursue their dreams. By doing so, they are creating a ripple effect that is transforming the way society views women's role in the economy.
5. Contributing to the overall development of the country: Women entrepreneurs are not only creating jobs and contributing to the GDP but are also bringing positive changes in their communities. They are involved in philanthropic activities, supporting education, health, and social development. By doing so, they are contributing to the overall development of the country.
Now that we have seen what impact these women in business are making, let us have a look at 10 Indian women entrepreneurs who are making significant contributions to the Indian economy:
1. Kiran Mazumdar-Shaw
She is the founder and chairperson of Biocon Limited, a biopharmaceutical company. Kiran is one of the most successful women entrepreneurs in India
and has been recognized with numerous awards for her contributions to the biotech industry.
2. Falguni Nayar
She is the founder and CEO of Nykaa, an e-commerce platform for beauty and wellness products. Nykaa has grown rapidly since its inception in 2012 and is now valued at over $1.2 billion.
3. Upasana Taku
She is the co-founder of MobiKwik, a mobile wallet and payment platform. MobiKwik has over 100 million users in India and has raised over $100 million in funding.
4. Richa Kar
She is the founder and CEO of Zivame, an online lingerie store. Zivame has disrupted the traditional lingerie industry in India and has raised over $50 million in funding.
5. Vandana Luthra
She is the founder and chairperson of VLCC, a chain of wellness and beauty centers. VLCC has over 300 centers in 121 cities across 16 countries and is one of the largest beauty and wellness companies in India.
6. Naina Lal Kidwai
She is a businesswoman and former CEO of HSBC India. Naina has been recognized as one of the most powerful women in business by Forbes and has been instrumental in promoting women's entrepreneurship in India.
7. Shradha Sharma
She is the founder and CEO of YourStory, a media platform that covers startup stories and entrepreneurship in India. YourStory has become a leading platform for Indian startups, and Shradha has been recognized as a leading voice in the Indian startup ecosystem.
8. Radhika Aggarwal
She is the co-founder and CBO of ShopClues, an e-commerce marketplace. ShopClues has raised over $250 million in funding and has over 350,000 sellers and 100 million products listed on its platform.
9. Suchi Mukherjee
She is the founder and CEO of LimeRoad, an online marketplace for women's fashion. LimeRoad has raised over $100 million in funding and has over 5 million active users.
10. Aditi Gupta
She is the founder of Menstrupedia, a website and comic book series that educates girls and women about menstruation. Menstrupedia has won several awards and has been recognized for its innovative approach to menstrual health education.
The impact of the rise of women in business on the Indian economy is significant. They are creating job opportunities, contributing to the growth of the economy, promoting diversity, driving social change, and contributing to the overall development of the country. It is essential to support and empower women entrepreneurs to ensure that they continue to thrive and make a positive impact on the Indian economy.
Also Read: What lies ahead for women entrepreneurs in India in 2023?