Archana Jahagirdar, the founder and managing partner of Rukam Capital, believes that women entrepreneurs can play a significant role in the socio-economic development of India. However, she notes that women face several constraints due to traditional gender dynamics and social norms rooted in patriarchy. Women are subjected to gender stereotyping from an early age, which impacts their aspirations and confidence levels.
This stereotyping is present in families, schools, media, and society at large. It also affects the perception of potential investors and stakeholders who doubt the leadership and risk-taking abilities of women. As a result, women entrepreneurs in India have lower access to formal credit compared to their male counterparts.
The Covid-19 pandemic has also impacted women more than men, with 54% of those who lost their jobs being women and 90% of them not returning to work. Despite efforts by the government through initiatives like Start-up India and Niti Aayog’s Women Entrepreneurship Platform, a lot of ground remains to be covered. Jahagirdar suggests that gender sensitisation workshops must be conducted at the school level to break existing social gender stereotypes.
Breaking stereotypes for women entrepreneurs
Innovative technical, financial, and policy-level initiatives need to be deployed to encourage and empower women entrepreneurs. Gender gaps in terms of pay and financing need to be narrowed and eventually removed.
Gender-neutral fiscal stimulus measures must also be put in place. Jahagirdar points out that women tend to prioritise social impact in entrepreneurship and are about 10% more likely than men to prioritise sustainability goals over economic goals. This approach drives market solutions to pressing problems such as climate change, health disparities, and economic inequality.
She cites the example of Shri Mahila Griha Udyog Lijjat Papad, a women-led start-up founded over 65 years ago with a borrowed sum of Rs 80. Today, it employs more than 45,000 women across 16 states in India and exports its products globally, with a turnover exceeding Rs 1,600 crore. Jahagirdar concludes by stating that women in India have been found to be less deterred by fear of failure than men.
All they need is an enabling environment to thrive as entrepreneurs and contribute to the country’s development.
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