According to Smriti Irani, the Minister of Women and Child Development, the high demand for Mudra loans in India indicates a strong presence of women entrepreneurs within mid-sized enterprises.
Mudra loans are a government initiative to provide financial support to small and medium-sized enterprises in India. The scheme offers loans ranging from INR 50,000 to INR 10 lakhs, making it easier for entrepreneurs to access capital.
Irani stated that the scheme has been highly popular among women entrepreneurs, with many of them starting their businesses or expanding their existing ones. This is a positive development for women in India, as they have traditionally faced significant barriers to starting and running their businesses.
She also noted that the government has taken several measures to support women entrepreneurs, including setting up women-only bank branches and providing incentives for companies that hire women. These initiatives have helped to create a more supportive environment for women in business, which has led to increased participation.
Irani further emphasized the importance of encouraging more women to become entrepreneurs, as this can help to create more job opportunities and contribute to economic growth. She called on all stakeholders, including government agencies, private sector organizations, and civil society groups, to work together to support women entrepreneurs and enable them to achieve their full potential.