The role of women in the Indian economy & why we need to fund them
Published: August 5, 2020
Women have played a pivotal role in helping the growth of the Indian economy. It is estimated that women contribute approximately 17-18% of the total GDP. Although they are strong in the farming and dairy sector, India’s rapid urbanization has not yet encouraged more women to join the labour force.
Women’s contribution to the country’s GDP is currently one of the lowest in the world, with only 25% of India’s labour force being female. But even if only 50% of women chose to join the workforce, then India’s growth can scale from 1.5% to 9% a year
Why should we fund more women?
We believe women must be given equal opportunity, because we can accelerate growth and progress by working together.
Here are some of the reasons we feel more women should have access to financial aid:
Women promote economic growth
As mentioned earlier, women go beyond social responsibility and can have a positive impact on the economy. Women-owned firms result in increased jobs, and yield substantial sales and receipts.
Women exhibit strong financial performance
Despite less access to capital, women have proved to have higher levels of financial performance compared to men. It has also been proven time and again that women form a “low risk and high return” category.
Women promote progress
Women are known to promote progress not only economically, but also socially. They can contribute in preventing another global recession. By integrating women into both workplaces and marketplaces, it is known that the world can reap.
The time to invest in women is now
Women’s entrepreneurial appetites are at an all-time high. Statistics show that approximately 10 million entrepreneurs will be funded by 2025, out of which 50% will be women.
We too are trying our best to help women get financial independence. And over the years we have partnered with 24,996 women for home and business loans. Most of these women hail from rural India, with limited or no exposure to mainstream choices. Despite a less advantageous initiation to life, they have emerged as major players, both at work and at home. Their ambition, skills, business and entrepreneurial acumen were instrumental in ushering a strong social and financial reformation within their family and their immediate ecosystem. Hearteningly, a majority of these women are first time loan applicants.
If you’re looking for a loan or looking to empower women, you can find the right loan here at Capri Global.