Women Owned MSMEs In India To Contribute Almost 40% Of MSMEs

19.43% of the MSMEs owned as of 1 August 2023 were women-led. The percentage increase reached 39% this year. It not only includes the GST-registered units but also the unregistered units on the Udyam portal. Women’s share in MSME is increasing at a good pace. It may reach 50% by the next year. It will boost the economy. More working women in the economy will lead to the rise of a developed economy. Following are details about Women-owned MSMEs in the industry.

Women Owned MSMEs In The Industry Rises To 39%

Women-owned MSMEs in the industry rose to 39% as of 2024. The data shows a positive trajectory of the work done by the women in MSME’s growth. The government is also launching new schemes regularly for support.

Women are currently running almost 1.84 crore enterprises. The total number of Udhyam registered units as of 25 July 2024 is 4.78 Crores. Policies and initiatives like Yashasvini help a lot to contribute to empowering women. The share of women in the MSMEs is increasing. The predictions say that it will grow further which is a good sign of development.

Women-owned MSMEs are also getting the support from government to get loans. The credit for women MSME entrepreneurs is often difficult. However, it will be now possible with the help of new schemes. Majority of the lenders avoid women entrepreneurs for the loans. However, these schemes offer almost 50% of the government’s loan help for women-owned MSMEs.

The MSME department is working on providing more support. The 39% is the number of women who registered with Udyam and Udyam Assist Platform as of now. There are many unregistered sites as well. MSMEs’ contribution to the Indian economy is much more. Thus, its growth plays a crucial role in the development of the Indian economy.

The budget for 2024 also increased the total contribution and support for the women. The percentage is huge. A lot of people prefer to have their shops and are now moving toward MSME. Getting into the clubs and their groups always teaches beginners more about their industry and growth. It is not easy to run a successful MSME business. It is only possible with the help of women-led businesses to learn from the advances in the industry and grow further in life. The numbers from providing loan help to the people did not show the whole truth. There are a lot of women who are not using these benefits to grow their MSMEs.