In the fast-growing economy like India, entrepreneurs contribute a great deal
towards economic development by offering goods and services at affordable prices to the
ultimate beneficiaries, by generating necessary revenue to the government by payment of
taxes, by introducing innovative technology for manufacturing quality goods at a cheaper
cost, reduce country's balance of payment and increases the Indian rupee value by exporting
more goods, offers ample employment opportunities to the unemployed youth thereby
unemployment gap may be reduced to a maximum extent, by exploring opportunities and
utilizing the available natural resources optimally for the national wellbeing. Women
entrepreneurs equally contribute to GDP. Amitabh Kant, Chief Executive Officer of Niti
Aayog rightly pointed out that in India only 20 per cent are Women Entrepreneurs and their
contribution towards the country's GDP stood at 22 per cent. He also further stated that the
promotion of a larger number of women entrepreneurs will assist our country to grow by
9 to 10 per cent annually in the next three decades.
Women entrepreneurs not only act as a breadwinner of their family but also
contribute their level best for economic progress. A recent World Bank study report
indicates that India's overall GDP may touch double digit, if more women members
involve in entrepreneurial activity (Vinay Pal Singh, 2018). To attain this objective, both
Central and State Government quite often introduce various schemes and offer various
subsidies and incentives to entrepreneurs in general and women entrepreneurs in particular.
Moreover, the Government insists banks and financial institutions extend soft loan assistance
to needy women entrepreneurs liberally. As a result of various initiatives taken by the
Government, presently in India 1,23,90,523 Micro Small Medium Enterprises (MSMEs) are
owned by women entrepreneurs. Of which, 12,85,263 MSMEs are owned by women
entrepreneurs in Tamilnadu (MSME Annual Report 2019-2020).
