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Govt reaches out to women-led MSMEs, startups to assist Covid-hit ladies employees earn livelihood

WEP was formally launched in March 2018 to assist the aspiring and current ladies entrepreneurs develop and scale their ventures.

Trade, import and export for MSMEs: The authorities’s initiative to spice up ladies entrepreneurship – Women Entrepreneurship Platform (WEP) – has invited women-owned startups and small companies that may procure, provide uncooked supplies for masks and supply it to home-based ladies employees to make masks as an alternate supply of revenue. NITI Aayog, which homes WEP, tweeted the initiative ‘Masking it up with WEP’ to assist ladies employees hit exhausting attributable to Covid-19. “Home-based women workers have been hard hit and are struggling to make ends meet in this uncertain climate,” the initiative stated inviting women-led companies to affix it.

Making masks would assist ladies employees “cope with the economic difficulties that have ensued due to the pandemic and help in combating the shortage of surgical and reusable cloth masks,” it stated. WEP plans to mixture ladies startups and small companies with the capability to produce, procure uncooked supplies and distribute fabric masks made by ladies employees throughout the nation.

Also learn: MSMEs hail govt’s transfer to dam China, others from automated FDI route; feared hostile takeovers

WEP was formally launched in March 2018 to assist the aspiring and current ladies entrepreneurs develop and scale their ventures via vital assist required akin to incubation, entrepreneurship skilling, advertising and marketing help, funding and compliance assist. WEP has over 30 companions akin to Paypal, SIDBI, Nasscom, Google, Facebook, CRISIL, Institute of Chartered Accountants of India, US India Business Council and extra. The platform at present has over 13,000 registered ladies and has benefited over 500 entrepreneurs, in keeping with the info obtainable on its web site.

Importantly, ladies have been the most important beneficiaries of the federal government’s two pet schemes to assist entrepreneurship and self-employment — Standup India and Pradhan Mantri Mudra Yojna (PMMY). Under Standup India scheme, whereby financial institution loans of Rs 1 lakh to Rs 1 crore are facilitated to a minimum of one scheduled caste or scheduled tribe and one lady borrower per department of scheduled business banks, over 81 per cent account holders are ladies as on February 17, 2020, in keeping with Ministry of Finance. Similarly, for PMMY, as per a finance ministry’s assertion, “out of over Rs 22.53 crore loans sanctioned till January 31, 2020, more than Rs 15.75 crore loans extended to women” — 70 per cent of complete debtors.

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