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NITI Aayog to soon launch special cell for women entrepreneurs

Feb 23, 2018 10:28 IST
NITI Aayog to soon launch special cell for women entrepreneurs

NITI Aayog would be launching a special cell called ‘Women Entrepreneurial and Innovation Cell’ next month to support women entrepreneurs and give a boost to their initiatives.

The move follows the successful conclusion of the Global Entrepreneurship Summit (GES), which was co-hosted by India and the United States in Hyderabad in November 2017. The summit saw in attendance Ivanka Trump, daughter and advisor of the President of the United States, Donald Trump.

Significance

• The move is encouraged by a rise in the number of women entrepreneurs in India.

• While speaking at a reception hosted in Washington DC in the honour of a delegation of women entrepreneurs from India by the Federation of Indian Chambers of Commerce and Industry (FICCI), NITI Aayog member Anna Roy stated that the Indian women entrepreneurs are bringing about a lot of development in the public and private sectors.

• Currently, more than two dozen Indian women entrepreneurs are in the US on a business trip.

• The visit is a result of the Global Entrepreneurship Summit.

Objective

The main objective behind the creation of the women’s cell is to create awareness, bring visibility to the existing initiatives, bring departments together and enable partner connect.

The dedicated women cell will facilitate promotion of women entrepreneurs in India.

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Composition

The cell will be called Women Entrepreneurial and Innovation Cell of Niti Aayog.

It will be headed by Niti Aayog advisor Anna Roy.

It will offer women financial support through the Rs 10,000 crore fund of Micro Unit Development and Refinance Agency, or MUDRA micro-loan scheme.

Background

• Women have played a significant social, political and economic role in India.

• Former NITI Ayog CEO Amitabh Kant had stated after the conclusion of GES that the special cell will act as a facilitator and catalyst to provide all help including legal and intellectual property help.

• He had also announced that women's schools will get priority while selecting schools for tinkering labs under the Atal Innovation Mission and that the selected schools will be provided with robots and 3D printers.

• He also said the incubator under Atal Innovation Mission will also support start-ups set up by women or designed for women.

• The Telangana's Information Technology Minister KT Rama Rao had also then announced the setting up of a Technology Fund (T-Fund) with a corpus of Rs 15 crore exclusively for women entrepreneurs.

• The women entrepreneurs would be able to get Rs 25 lakh to Rs 1 crore under this fund.

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