India is witnessing remarkable growth in women-owned enterprises, with estimates indicating the potential for over 30 million new businesses led by women—a development poised to create between 150 to 170 million new jobs according to recent findings from KPMG. This surge is not only about numbers; it reflects the transformative impact women entrepreneurs have on their communities. They tend to reinvest their profits locally, fostering economic empowerment and community resilience.
The statistics paint a picture of dynamic engagement. Women now account for over 20% of Micro, Small, and Medium Enterprises (MSMEs) across the country, and significantly, about 45% of these ventures are originating from tier II and tier III cities. These areas, often overlooked, are becoming hotbeds for entrepreneurship, as highlighted by Akhilesh Tuteja, KPMG’s Client’s and Market Partner, during the TiE Global Summit 2024 held in Bengaluru.
According to the Ministry of Commerce and Industry, there are now more than 73,151 startups driven by at least one woman director, showcasing how integral women are to India’s innovation and economic advancements. This is underscored by government initiatives aimed at bolstering female entrepreneurship, which have seen significant financial investments. For example, the government has invested around ₹3,107 crore across 149 women-led startups through Alternative Investment Funds, and the Startup India Seed Fund Scheme has allocated ₹227.12 crore to 1,278 such ventures since its inception.
Notably, the Credit Guarantee Scheme for Startups, introduced recently, has guaranteed loans amounting to ₹24.6 crore for women-led initiatives, reinforcing the government’s commitment to fostering gender equity within the startup ecosystem. This momentum is indicative of the broader structural changes taking place within India’s economy, especially as the burgeoning tech sector increasingly embraces diversity.
Women-led startups are now thriving across over 600 districts, with more than half of those districts’ new startups being established by female entrepreneurs. This vibrant ecosystem is evidently gaining traction and recognition, positioning women at the forefront of India’s entrepreneurial advancement.
Alongside this growth, India’s tea export industry is also exhibiting notable expansion. During the first half of the fiscal year (April-September 2024), the value of tea exports saw a significant increase of 13.18%, rising from ₹3,007.19 crore to ₹3,403.64 crore. Volume-wise, exports met with positive traction as well, surging by 8.67% to 122.55 million kilograms. Major tea-importing countries such as the UAE, Iraq, and the US have started to acknowledge the quality of Indian tea, which has established itself as one of the top five tea suppliers globally, accounting for about 10% of worldwide exports.
Among the key contributors to this growth are Assam, Darjeeling, and Nilgiri teas, renowned for their superior quality. It’s worth noting too, from the total tea exports, black tea constitutes around 96%. Diverse types of tea—including regular, green, herbal, and even varieties such as masala and lemon tea—underscore the industry’s richness and varied offerings.
To bolster production and create reputable branding for Indian teas on the global stage, multiple initiatives have emerged, striving to support the 2.30 lakh small tea growers across the country. The government has empowered these growers by establishing 352 Self Help Groups (SHGs), 440 Farmer Producer Organizations (FPOs), and 17 Farmer Producer Companies (FPCs), paving the way for greater autonomy and sustainability.
These small growers are not only pivotal to the tea supply chain; they also represent the grassroots of rural entrepreneurship. Community seminars focusing on quality control, capacity building, and crop management show the concerted efforts being made to uplift this segment. Technologies such as pruning machines and mechanical harvesters are being introduced to aid these tea farmers, helping them increase efficiency and productivity.
Mini tea factories are also sprouting up, providing new avenues for entrepreneurs and unemployed youth, thereby fuelling local economies. Employment figures related to the tea industry are also promising, with around 1.16 million workers directly employed and many others receiving indirect support through ancillary services.
With such potent synergies between the empowerment of women and the growth of traditional sectors like tea, India is not just witnessing economic development. It is fostering inclusive growth where women play key roles. The investments, grassroots initiatives, and the rise of women-led enterprises bring together strands of tradition and innovation, making for a narrative of hope and progress. Indeed, as the fabric of India’s economy continues to evolve, the spirit of entrepreneurship—especially led by women—could very well shape its future.
Women’s entrepreneurship and the tea industry together represent the dynamism and resilience of India’s economy, proving once again why empowering women is not just beneficial, but necessary for holistic growth. These developments showcase the strength of inclusivity, emphasizing how diverse participation can yield remarkable economic results.
