FM Sitharaman praises Women's Advancement in the Indian Corporate & Startup Sector

By: WE Staff | Thursday, 28 March 2024

The Union Finance Minister, Nirmala Sitharaman, has laid stress on the significant developments made by women in India's corporate sector. Remarkably, women are not just spearheading the companies but also holding prominent roles on corporate boards. As of 2018, only 13.8 per cent of women were on the board whereas as of the present scenario, the percentage has risen to 18.3 per cent showcasing growing representation on corporate boards.

20 of the 111 unicorns that were made in India had women in leadership positions, says FM Sitharaman. In order to advance female entrepreneurs, significant roles are played by government initiatives like PM Mudra and Stand Up India. Women in India have received 80 per cent of the funds allocated under the Stand Up India Scheme. The Small Industries Development Bank of India (Sidbi) has set aside 10 per cent of its financing for female-led enterprises.

The Stand Up India initiative led by the Indian government was launched in April 2016. It is designed to lend money to women, members of scheduled castes, tribes, and individuals to start new businesses. It has been extended until 2025. In addition to this, under the PM Mudra Scheme, around 30 crore women beneficiaries have benefited from 70 per cent of the loans provided.

Further, Swiggy's initiative, "She The Change" to honor and support women entrepreneurs in India was also praised by Nirmala Sitharaman. With over 50,000 restaurants run by women, the firm has created almost 300,000 jobs in India.