HERnomics: How are we including women in India’s digital growth?

In both urban and rural contexts, digitization has been instrumental in advancing the empowerment of women, aligning with the theme of International Women’s Day 2024: “Invest in women: Accelerate progress.”

By investing in digital literacy programs, improving internet connectivity in remote areas, and addressing cultural barriers, society can accelerate progress towards gender equality and women’s empowerment.

Empowering women through digitization not only enhances their economic opportunities but also fosters their participation in decision-making processes, promotes inclusive growth, and drives overall societal advancement.

It is crucial for us to prioritize investments in women’s digital inclusion to unleash their full potential and achieve sustainable development goals.

How does digital inclusion help empower women?

Economic Independence

Digitization has provided women in urban areas with opportunities to become financially independent. They can now explore various online avenues such as eCommerce, freelancing, blogging, and digital marketing to generate income from the comfort of their homes.

Related read: 20 successful business ideas for women in India

Entrepreneurship

Online platforms have lowered barriers to entry for women entrepreneurs in urban areas. They can easily start their businesses with minimal capital investment by leveraging eCommerce platforms like Amazon, Flipkart, or setting up their own online stores.

Access to Markets

For women in rural areas, digitization has bridged the gap between remote locations and markets. Online platforms allow them to sell handmade crafts, agricultural produce, and other goods directly to consumers.

Financial Inclusion

Many women in rural areas lacked access to formal banking services. However, digitization has facilitated financial inclusion by enabling them to open bank accounts and access digital payment services.

This empowers them to manage their finances independently and participate more actively in economic activities.

Community Engagement

Digitization has strengthened community networks among rural women. Social media platforms and online forums provide them with opportunities to connect, share experiences, and support each other, fostering a sense of solidarity and collective empowerment.

Related read: 5 Community Building Platforms You Need to Build Your Business Organically

However, challenges such as digital literacy, internet connectivity, and cultural barriers continue to impact women’s full participation in the digital economy, highlighting the need for targeted interventions to ensure inclusive growth and empowerment. Here is how the Indian government is tackling these challenges.

7 Schemes by the Indian government to accelerate progress in women 

1. Mudra Loan Scheme 

The government initiative promotes entrepreneurship and provides financial support to micro and small enterprises, with a special focus on women entrepreneurs.

Loans up to ₹10 lakhs are available with easy terms and lower interest rates, making it attractive for business establishment or expansion.

2. Stand-Up India Scheme

Designed to foster entrepreneurship among marginalized communities, particularly women, the scheme provides bank loans ranging from ₹10 lakh to ₹1 crore for setting up new businesses.

It mandates at least one scheduled caste (SC) or scheduled tribe borrower and one woman per bank branch for loan disbursement.

3. Mahila Coir Yojana (MCY)

This scheme aims to empower rural women by offering spinning equipment at reduced prices along with skill development training.

Women entrepreneurs can avail a subsidy of up to 75% of equipment costs and a margin money subsidy of up to 25% of the project cost, provided they have completed coir yarn spinning training.

4. Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)

It facilitates collateral-free financing for micro and small enterprises, including those owned or operated by women, with credit facilities up to ₹200 lakh per eligible borrower.

The guarantee cover extends up to 85% for enterprises led by women and up to 75% for others.

5. Udyam Shakti Portal

Launched by the Ministry of MSME, the portal promotes social entrepreneurship by providing assistance in business planning, incubation facilities, training programs, and market research.

Projects with costs up to ₹25 lakhs are eligible, with a specific allocation of ₹10 lakhs for service-based projects.

6. Economic Empowerment of Women Enterprises and Start-up by Women 

Operated by the Ministry of Skill Development and Entrepreneurship, this scheme offers an incubation and acceleration program for female micro-entrepreneurs to establish new businesses or scale up existing ones, currently operational in Assam, Rajasthan, and Telangana.

7. Trade-Related Entrepreneurship Assistance and Development (TREAD)

Aimed at economically empowering women, the initiative provides finance, training, and development assistance through NGOs. NGOs receive grants from the Government of India (GoI) of up to 30% of the project cost, with the remaining 70% financed by the lending agency for entrepreneurship promotion among women.