India Has 8.59 Lakh Small & Medium Businesses Founded By Women! Growth Increases By 75% In 1 Year!

On Thursday, Parliament informed that the number of women-led micro, small and medium enterprises in India has increased substantially by over 75 per cent in FY22 to 8.59 lakh units. Notably, in the previous fiscal, the same number of 4.9 lakh units.

8.59 Lakh MSMEs Led by Women

Bhanu Pratap Singh Verma, Minister of State for Micro Small and Medium Enterprises, in a written reply to Lok Sabha said “While 4.9 lakh women led MSMEs registered on the portal during the year 2020-21, about 8.59 lakh women led MSMEs registered during the year 2021-22 (up to 28.03.2022)”.

Changed Process of Registration & No. of Female Account Holders

In the month of July 2020, the process of filing of Udyog Adhaar Memorandum for registration of Micro, Small and Medium Enterprises (MSMEs) was replaced with the Udyam Registration. He said that “The number of women led MSMEs registered on Udyam Registration Portal has witnessed a substantial increase”.

Citing the data from RBI, the minister stated in his reply that as of March 31, 2021, out of a total number of 211.65 crore accounts in scheduled commercial banks, 70.64 crore accounts belong to female account holders.