Government to establish National Women Entrepreneurship Council

The Union Ministry of Women and Child Development is considering to establish National Women Entrepreneurship Council (NWEC). It will be umbrella organization for socio-economic gender parity, financial inclusion and economic empowerment of women in India and to promote entrepreneurship among women. It will give advice to government on issues related to entrepreneurship in women as current business chambers are largely “male-dominated.

Background

According to Mastercard Index of Women Entrepreneurs, India ranked 49 among 54 economies globally with overall low score of 41.7 points. It shows that India presents lower opportunities for women to engage in entrepreneurial activities, assume leadership roles or participate in workforce.
The main concern is lack of education, technological know-how and cultural bias coupled with stringent business and government regulations which undermine women’s ability take advantage of entrepreneurial opportunities in India. Economically empowered women are major catalysts for development. There is greater recognition of positive relationship between increased economic activity by women and improved social outcomes.

Month: Current Affairs - February, 2018