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Over the past few decades, there has been a steady increase in women entrepreneurs in India. Famous women entrepreneurs such as Kiran Mazumdar Shaw, Shradha Sharma and Sairee Chahal have become household names. Such examples show that women are unstoppable and can achieve anything with hard work and the right resources.
While these real-life instances are encouraging, India continues to struggle to address and overcome the gender wage gap. Women make up almost 50% of the Indian population but only around 14% of all Indian enterprises are led by women. Several challenges—both professional and personal—have prevented them from becoming successful women entrepreneurs.
Studies show that organizations can play an active role in supporting and promoting women entrepreneurs. Let’s see how businesses can make a difference.
The Need For Promoting Women Entrepreneurs
Women entrepreneurship in India is creating an impact in all spheres—economic, social and environmental. A collaborative study between Bain & Company and Google found that women entrepreneurs have the potential to create 170 million jobs by 2030. In other words, they have the potential to create more than a fourth of the total jobs required for the working population.
Several successful women entrepreneurs in history have been instrumental in changing the perception of women as business leaders. Businesses need to seize this opportunity and ride the wave of change for greater economic impact. Here’s a list of the top 10 women entrepreneurs in India who have created a stir with their success stories:
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Kiran Mazumdar Shaw:
The founder of Biocon Limited, a leading biopharmaceutical firm, is one of the top women entrepreneurs of the world.
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Vandana Luthra:
The founder of VLCC, a beauty and wellness service center, Luthra has been awarded a Padma Shri and is a well-known philanthropist.
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Ritu Kumar:
A leading Indian fashion designer, Kumar has expanded her business globally. She has received a Padma Shri for her exceptional work.
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Indra Nooyi:
The former CEO of PepsiCo and current board member of Amazon, Nooyi is one of the most famous women entrepreneurs today. Forbes called her the second-most powerful woman in 2017.
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Falguni Nayar:
The founder of Nykaa—a successful e-commerce brand—Nayar has joined the list of successful women entrepreneurs. Economic Times gave her the ‘Woman Ahead’ award for her achievements. (napavalley.com)
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Radhika Ghai:
The co-founder of ShopClues.com, another successful e-commerce business, Ghai became a household name for her innovative tech entrepreneurship.
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Vani Kola:
The founder of Kalaari Capital, a venture capital fund, Kola’s contribution has been phenomenal. She has received multiple awards for her efforts, including the TiE Delhi-NCR 5th Edition of Women’s Entrepreneurship Summit Award.
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Suchi Mukherjee:
Founder and CEO of Limeroad, Mukherjee created a thriving clothing and lifestyle accessories marketplace. Her efforts have been recognized widely and she has received several start-up business awards for her contribution.
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Shradha Sharma:
The founder of YourStory, Sharma quit her job to pursue her dreams. She has become one of India’s leading and most successful women entrepreneurs.
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Ankita Vashistha:
The founder and CEO of India’s first venture capital fund that invests in women-led ventures, Vashistha has changed the investment landscape with Saha Fund.
These are only some of the top women entrepreneurs in India who have made history through their work. These examples show women can make a difference when they have access to the right resources, networks and spaces.
How To Promote Women Entrepreneurship
Today, several organizations around the world have made diversity and inclusion initiatives a mandatory aspect to address the economic divide. While these initiatives are beneficial, there are some other strategies to ensure the promotion of women’s entrepreneurship and leadership.
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Identifying and addressing specific needs of women entrepreneurs. In addition to the demands of home, women also have to deal with matters of safety and accessibility.
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In the age of technological innovations, women entrepreneurs have very limited access to online resources. Bringing them online and educating them about technological solutions can be life-altering.
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Most importantly, Indian women entrepreneurs need continuous access to education and skill development programs. Expanding the knowledge pool can push them to pursue new opportunities and grow immensely.
It’s important to remember that at the heart of women’s entrepreneurship lies leadership qualities. If you or your organization want effective business tips for women entrepreneurs, it’s best to maximize their leadership potential.
Harappa’s Women’s Leadership Program is specially designed to help you build a strong cadre of women leaders. With a toolkit of frameworks, principles and approaches, help women professionals achieve transformational outcomes critical for professional success. From helping them create a compelling personal brand to building strong professional networks, the program will help women take the much-needed leap in their careers. Empower women professionals by scheduling a demo today!
Explore Harappa Diaries to learn more about topics such as Entrepreneurship, How to be a Successful Business Woman, How To Be Polite, How To Motivate Your Team and How to Lead With Empathy that will help organizations tap into their employee’s potential.
