Smriti Irani Supports Diaspora Investment in Women-Led Businesses

By: WE staff | Thursday, 26 March 2026

• Smriti Irani urges diaspora to back India’s small businesses
• Women entrepreneurs empowered through SPARK initiative nationwide
• Focus on financial independence drives societal and family benefits

Former Union Minister of India, Smriti Irani, has called on the global Indian diaspora to actively invest in small businesses in India, highlighting their role in innovation, economic growth, and inclusive development.

Speaking at the Indiaspora Forum 2026 on March 24 at Bengaluru’s JW Marriott, Irani addressed members of the diaspora during a plenary conversation with Indiaspora’s Executive Vice President, Shoba Vishwanathan. She said that while many Indians have gone abroad in search of better opportunities, they can make a significant impact by investing in research, technology, and small businesses. She said to the diaspora members, “If you’re investors, please invest in small businesses.”

As a strategic advisor to the Confederation of All India Small Traders, which has 40,000 trade associations and 18 million small traders under its umbrella, she said that small businesses face many hurdles in getting capital. She also said that innovators should be helped to overcome the hurdles in commercializing their ideas. She also mentioned women entrepreneurs.

Another thing that Irani observed was about professional development, and she advised that one should not attempt to be loved or even respected by all. When you can, when you are able to give what capacity you are, as a professional, as a person, that is always the best thing, and that is what I think I have achieved in terms of leadership experiences.

With a special emphasis on gender entrepreneurship among women, she described the SPARK initiative, which would assist one lakh women-owned enterprises in 300 cities. The program also collaborates with organizations such as the British Council to equip women entrepreneurs with skills in English language, which allows them to engage in the global supply chains.Through professional organizations like the Institute of Chartered Accountants and Secretaries, women, have been assisted to create formal businesses and negotiate legal and taxation systems.

Irani also mentioned potential collaborations with the National Stock Exchange to support at least 200 companies in their valuation and growth journey. Women who achieve economic empowerment can better choose their healthcare options and legal needs and family obligations according to her.

Irani reflected on her early days and mentioned that she began her first job at McDonald’s by washing utensils. However, she emphasized that she concentrated on skill development and financial freedom. Irani mentioned that “women’s earnings have a multiplier effect on families – 40 percent is spent on education and healthcare,” thus portraying the positive effects on society.