In January 2016, the Startup India initiative launched several programs aimed at supporting entrepreneurs and building a robust startup ecosystem. These programs are managed by a team under the Department for Industrial Policy and Promotion (DPIIT).
In 2018, NITI Aayog launched the Women Entrepreneurship Platform (WEP), a single-access portal designed to bring together women from across India and create an ecosystem to nurture their entrepreneurial aspirations. WEP plays a key role in supporting users through workshops, campaigns, and various avenues for learning and growth.
The central government has introduced several schemes to support women entrepreneurs. Some of these include:
Bharatiya Mahila Bank: This is a commercial loan scheme for women entrepreneurs looking to start a small or medium enterprise (SME) in sectors such as real estate, retail, or a new business. Women entrepreneurs are eligible for loans of up to Rs 20 crore, with a discount of 0.25% on normal interest rates, which typically start at 10.15% or higher.
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE): This scheme provides collateral-free credit to micro and small enterprises. Women-led manufacturing enterprises can access loans of up to Rs 20 crore without the need for collateral or security.
Dena Shakti Scheme: This scheme provides financial assistance to women entrepreneurs, offering loans of up to Rs 20 lakh for sectors like horticulture, retail trade, education, and housing. Additionally, microcredit up to Rs 50,000 is available under the micro-credit component. A 0.25% interest rate discount is offered to women entrepreneurs who hold a majority stake in the business.
Udyogini Scheme: Launched by the Women Development Corporation, this scheme encourages financially disadvantaged women to obtain financial assistance for starting a business. Women aged 18 to 45, with a family income of Rs 45,000 or less, can receive loans of up to Rs 1 lakh.
Mahila Udyam Nidhi Scheme: This scheme, managed by the Small Industrial Development Bank of India (SIDBI), supports women entrepreneurs in promoting and sustaining their businesses. The credit provided under this scheme can be used for ventures in the service, construction, and manufacturing sectors. For starting a small business, loans of up to Rs 10 lakh are available.
Stree Shakti Scheme: An initiative by the State Bank of India, this scheme provides financial assistance to women entrepreneurs and professionals seeking to run their own trade or business ventures. Enterprises where women own more than 50% of the business can receive loans of up to Rs 20 lakh.
