Just take a look around to observe how women are leading from the front in practically every field today! Women have proven that civilizations cannot advance and the world cannot become a better place to live without them, from actress Priyanka Chopra who put Bollywood on the global scene to badminton players Sania Mirza and PV Sindhu who made India a face in international sports.
According to a paper titled ‘Powering the Economy with Her’ by Bain & Company and Google. The good news is that this number is only anticipated to rise in the future. According to a survey conducted by the EdelGive Foundation, women-owned businesses in India are expected to rise by up to 90% in the next five years.
It’s because economies can’t thrive without increased female participation. According to the IMF, equal gender participation in the workforce could boost India’s GDP by 27% by 2025. This has the potential to create 150–170 million jobs in India, which is more than a quarter of the new jobs necessary for the whole working-age population between now and 2030!
Encouraging women entrepreneurship
Using an integrated policy framework, according to the same Bain and Company analysis described earlier, can expedite women’s entrepreneurship and bring them into the mainstream. Equal access to finance, as well as broad-based gender responsiveness across the financing sector, can help people leap into self-employment and entrepreneurship by alleviating financial concerns. Other approaches, according to the research, including expanding access to capability development and mentorship, guaranteeing women’s closer integration into formal and informal networks, and not only establishing but also celebrating role models.
Direct selling industry revolutionizing women entrepreneurs
Direct selling is an industry that has made a significant contribution to the creation of self-employment opportunities in the country, particularly for women. It is a business strategy in which a vendor sells things directly to the end consumer, either in person or online, and is also known as person-to-person retail. The number of direct sellers in India was 5.7 million in FY 2018-19. By 2025, these numbers are expected to have risen to 18.1 million.
Amway, one of the most well-known FMCG direct selling organizations, is a company that values women as decision-makers. They no longer want to work from 9 a.m. to 5 p.m. They are driven, financially self-sufficient, capable of changing the world, and always on the lookout for the best possibilities for their immediate and long-term goals. And Amway has been the wind under their wings, striving to develop capacities for poor women so that they may join the workforce, earn a living for their families, and contribute to the economy as a whole.
Amway’s Nari Shakti
Project Nari Shakti was launched last year as part of Amway’s 10-year growth strategy, with a specific focus on empowering women to unleash their entrepreneurial energy. Its goal is to elevate Amway’s female Direct Sellers to the forefront by boosting their existing talents and empowering them to run their Amway businesses on their own. To do this, Amway has organized several training sessions and workshops led by senior female entrepreneurs in recent months. This project also emphasizes the relevance of social selling in today’s environment, as well as the rapid adoption of the digital medium to sustain enterprises and move beyond traditional direct selling methods.