MSME minister launches “SAMARTH” to boost women entrepreneurship on women's day

On the occasion of International Women’s Day 2022, Union Minister for MSME, Narayan Tatya Rane, along with Minister of State for MSME, Bhanu Pratap Singh Verma, launched a Special Entrepreneurship Promotion Drive for Women - "SAMARTH" at New Delhi in the presence of Secretary (MSME), AS&DC (MSME), Chairman (KVIC), Senior Officials of the Ministry and women entrepreneurs.

Congratulating women at the event, Rane said that the micro, small, and medium enterprise (MSME) sector offers plethora of opportunities for women, and the Ministry of MSME, through its schemes and initiatives, is continuously making efforts to develop entrepreneurship culture among women by offering several additional benefits for women in the schemes implemented by the Ministry.  

Rane announced a Special Entrepreneurship Promotion Drive for Women called "SAMARTH", which is being implemented by the Ministry to provide them an opportunity to be self-reliant and independent by undertaking self-employment opportunities.

Under the initiative, 20 percent seats in free Skill Development Programs organised under skill development schemes of the Ministry will be allocated for women, through which 7,500 women are expected to be benefitted.

Moreover, 20 percent of MSME Business Delegations sent to domestic and international exhibitions under the schemes for Marketing Assistance implemented by the Ministry will be dedicated to women owned MSMEs. This will enable women entrepreneurs to avail marketing opportunities to showcase their products in domestic and international exhibitions.

There is also 20 percent discount on annual processing fee on NSIC’s Commercial Schemes Special Drive for registration of women-owned MSMEs under Udyam Registration.

Hailing the move, Payal Jaggi, Founder of KincheByPayal, a handcrafted private label, said, this is a welcome move by the Ministry of MSME. 

“As someone who has been an entrepreneur for about eight years, I feel like this will go a long way in benefitting other women like me. I hope the scheme provides a robust and responsive structure along with timely support that women are able to benefit from." she added.

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According to a report by McKinsey, all countries would benefit from advancing women’s equality. In a best-in-region scenario in which each country matches the rate of progress of the fastest-improving country in its region, the largest relative GDP opportunity is in India, which could achieve an 18 percent increase over business-as-usual GDP, or $770 billion. 

Bhanu Pratap said that the Ministry of MSME envisions greater participation of women in the MSME sector and therefore will work hard to promote entrepreneurship. 

“Women today are creating exceptional and ground-breaking accomplishments in every sphere of life and are optimistic about what the future holds for them. With the increased supportive initiatives by the government, we together can usher in a new era in India's future.”

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Sayalee Marathe, Co-founder of House of Aadya, a handmade silver jewellery brand based out of Pune, says, initiatives like these will definitely bring a change in the society.

“Any support from the government empowers more people to start on their own. Being financially independent changes many lives.”

As per the survey by Meesho, one of India’s fastest-growing internet commerce companies that surveyed 9,000 women entrepreneurs across 28 states and four union territories, states that besides financial independence, most women believe happiness, a sense of identity, and networking opportunities are important facets of becoming entrepreneurs.