New Delhi, Dec 11 || India has the potential to create more than 30 million new women-owned enterprises, according to a report.
The report -- on democratisation of entrepreneurship in India -- by consulting firm KPMG stated that this can translate to 150 to 170 million more jobs in the country.
Investing in women-led ventures can have a multiplier effect, as they are more likely to reinvest in their communities, the report said.
Further, boosting venture capital (VC) funding in women-led startups in India can enhance gender equity. It will also enable women founders to scale their businesses, create jobs, and contribute to the economy on a larger scale.
“More than 20 per cent of India’s MSME startups were by women-led ventures and 45 per cent of these came from tier II and III cities,” said Akhilesh Tuteja, Client’s and Market Partner, KPMG, at the TiE Global Summit 2024 in Bengaluru.