'Improved Access To Finance, Timely Funding For Women-Led MSMEs Can Transform India’s Start-up Ecosy
India is, well and truly, one of the world’s start-up hubs. The country’s Micro, Small and Medium Enterprises (MSMEs) contribute a healthy chunk to its gross domestic product. MSMEs contribute half of all product and service exports from India. The Union government’s budgetary allocation for MSMEs in 2021-22 more than doubled to INR 15,700 crore from that in 2020-21. Despite this phenomenal increase in outlay, gender diverse MSMEs continue to face hurdles to accessing finance.
Women-led MSMEs face a different set of challenges in securing funding. In an interview with Indiatimes, Lavanya Jayaram, Executive Director, South Asia, Asian Venture Philanthropy Network (AVPN) talks about the need for pursuing gender-inclusive policies and facilitating access to financial schemes for women.