Women entrepreneurs in India can generate 150-170 million jobs by 2030, which is more than 25% of the new jobs required for the entire working-age population, according to a joint report released on Tuesday by Bain and Co. and Google titled Women Entrepreneurship in India—Powering the economy with her.
“There are an estimated 16 million women-owned and controlled enterprises, representing approximately 20% of all enterprises today that are creating direct employment for about 27 million people in India. However, if we focus on enabling women entrepreneurs to start up and scale, we will be able to increase direct employment by 50-60 million people, increase indirect and induced employment of another 100-110 million people, taking the total number of jobs to 150-170 million by 2030,” said Megha Chawla, partner, Bain and Co., and the lead author of the report.
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The report identifies six dominant segments of women entrepreneurs and says that despite India’s economic progress in the last decade, women’s participation in the labour force has declined and is expected to be under pressure because of labour trends, technological disruption, and constraining social barriers.