ROLE OF WOMEN ENTREPRENEURS IN SHAPING THE FUTURE OF INDIA: CHALLENGES AND OPPORTUNITIES

Abstract

According to Schumpeter’s concept, “Women who innovate, imitate or adopt a business activity are known as women entrepreneurs”. Woman plays a vital role in the family, society and for development of the economy. They are capable of taking all types of responsibilities at different stages of life. Women are becoming progressive in all the fields and achieving success. However, over the past few years there has been a gradual shift in the mindset of Indian society and women have emerged as a force to be reckoned with in the world of entrepreneurship. The changes taking place in the field of urbanisation, education, science and technology, and the role of women has substantially changed. Women in India are contributing to the overall development of the country. Women at their best are contributing in sectors such as banks, food, fashion, education, health, sanitation, science and technology, government and even at Politics. However, they are encountering a large number of challenges. Although Government of India has come up with a large number of policy measures, yet, there is a long way to go. This paper highlights the stories of select entrepreneurs’ like Falguni Nayar, Kiran Mazumdar Shaw, Richa Kar and Suchi Mukherjee. This research paper highlights the modality of women entrepreneurs in the contemporary world, role of women entrepreneurs in India, factors driving women to start business, contributions of women entrepreneurs, challenges, measures to overcome the challenges, opportunities and future of women entrepreneurs in India. This paper also throws light on the government schemes in funding the business of women entrepreneurs.