MSME Day 2024: Participation of women in MSMEs increases but challenges remain

India’s estimated 64 million MSMEs employ nearly 23% of India’s workforce. The 40 million or so MSMEs registered with the MSME Ministry through the Udyam certification have reported nearly 190 million jobs – doubling from 90 million as of the end of 2022. 

Nidhi Bhasin, CEO, Nasscom Foundation, says that increased participation of women in MSMEs indicates a positive trend towards gender inclusivity in business, contributing significantly to economic growth and social empowerment. “It not only fosters a diverse and dynamic business environment but also plays a crucial role in driving innovation and resilience within the sector,” adds Bhasin.Sumit Kumar, Chief Strategy Officer, TeamLease Degree Apprenticeship, agrees and says, “Women participation in MSMEs, as per our estimates, has increased in the last 2 years from 21.8 million (2021-22) to 36.2 million (2023-24), which is a commendable increase of 66% over two years…Read More