WEConnect Intl. conducts Regional Roundtable to Discuss Status Of Women-Owned Businesses

By: WE Staff | Monday, 25 October 2021

WEConnect International hosted a regional roundtable on October 25 to present research findings on the status of women-owned businesses in corporate value chains in South Asia. The event included Chargé D’Affaires Patricia A. Lacina of the US Embassy to India, the US Department of State, and over 85 local and multinational business leaders.

The said research highlights insights the reason behind very few women-owned businesses winning contracts from corporate buyers. Compiled by WEConnect International for its ‘Women’s Empowerment through Economic Inclusion’ project funded by the US Department of State’s Bureau of South and Central Asian Affairs, the research was conducted over a 12-week period. The extensive report will be published in November.

The research took into account ecosystem study on women-owned businesses in India, Bangladesh, Maldives and Sri Lanka. It also focused on finding strategies improve linkages between corporate buyers and women-owned and -led Small and Medium Enterprises (SMEs) across India and global markets.

In context of India, the study found that females contribute to 18 percent of India’s GDP, one of the lowest proportions in the world. Going forward, owing to improving gender equality in the country, India is slated to experience a GDP boost of $770 billion by 2025.

The report concluded that in order to improve trade linkages in India, 75 percent of corporate buyers recommend female owned businesses ensure all industry standards are met. 53 percent respondents said they should register as a preferred supplier, and 31 percent urged women to participate in sourcing events, RFPs and RFQs.

“An investment in women and girls is an investment in our future prosperity,” said Chargé D’Affaires Lacina. “Private companies also play an important role in promoting women’s economic empowerment.”  

“WEConnect International conducted this research to explore the needs and constraints of women-owned businesses including the attitudes, views and policies of corporate buyers, current legal frameworks, and local market opportunities,” said WEConnect International Regional Director – South Asia Eroshan Alagaretnam. 
 

WEConnect International is a global non-profit focused on women-owned businesses. It helps them compete in the global marketplace through capacity development and connections to large buyers seeking women suppliers.