MSME Day was celebrated in Goa jointly by GCCI and DITC (Directorate of Industries, Trade and Commerce) recently. The day highlighted the significant role women entrepreneurs play in the Goan economy. With a commendable 36.36% ratio of women-owned enterprises and a striking 50% share among new start-ups, Goa exemplifies progressive entrepreneurship. Esteemed dignitaries present on the occasion highlighted the initiatives taken by the government, including programs through RAMP, the revival of handlooms like Kunbi, and the establishment of a Women's Entrepreneurship Cell by DITC and EDII (Entrepreneurship Development Institute of India). Additionally, the Goa Industrial Development Corporation (GIDC) has proactively earmarked industrial estate plots specifically for women entrepreneurs.
Every household boasts a woman who quietly acts as a wealth creator. Women traditionally save meticulously, whether through gold, silver, or cash, demonstrating excellent financial planning and ensuring the effective utilisation of resources while seamlessly managing household responsibilities. They are skilled home decorators, resource managers, and banquet managers, able to effectively delegate responsibilities and complete tasks, demonstrating the power of multitasking.
Several compelling statistics were presented at the event, revealing intriguing insights. Surprisingly, rural India surpasses urban areas in terms of women-led manufacturing and service enterprises. Moreover, a striking 91% of women-owned enterprises remain unregistered, consequently missing opportunities offered by government schemes and incentives. Despite these hurdles, women entrepreneurs significantly contribute to community empowerment, typically providing raw materials and wages to approximately 28 other skilled or semi-skilled women artisans, sharing work and best practices. Additionally, each entrepreneur employs around five to six women directly for production and packaging, generating substantial local employment.
Women entrepreneurs generally exhibit key traits, including efficiency, hard work, creativity, adaptability, and a willingness to innovate. They consciously contribute to the family's finances through practical budgeting and mindful cost management. Alongside these entrepreneurial traits, women entrepreneurs demonstrate exceptional social consciousness, resilience, quality orientation, and legal awareness, which are the foundation of a successful and sustainable business.
The stories of prominent women entrepreneurs serve as an inspiration. Outstanding examples include Rajni Bector, chairperson of Mrs Bector’s Food Specialities Ltd., the Cremica brand, a Rs 8,000 crore conglomerate. In 1982, with a small investment of Rs 300, she started her business from home, initially retailing only ice creams, and later expanded into the biscuits, bread, and condiments business. Another credible name is Meena Bindra, of the Fashion label BIBA, which was launched as a home-based store selling Salwar Kameez and Dupattas in Delhi. It now boasts sales of over Rs 700 crore, with 150 brand outlets and 225 multi-brand outlets.
Suta, co-founded by Sujata and Tania Biswal, disrupted the market by transforming traditional saree shopping through the sale of handloom sarees online. They successfully blended conventional Indian weaving techniques with contemporary designs, revitalising sarees as everyday wear. Their innovative approach has created livelihood opportunities for over 14,000 artisans nationwide.
Among other notable examples is Nina Lekhi of Baggit, who, at the age of 18, founded a recognised national brand with over 500 employees and an annual turnover of more than Rs 280 crores. Besides there were other impactful entrepreneurs like Hema Jain, Crux management Pvt ltd, one of the most extensive integrated Human resources and BPO organisations nationwide with over 10000 employees and beauty industry icon Shahnaz Hussain who retails Ayurvedic products for skin, hair and body care and operates in more than 100 countries, where it has franchise salons, direct product distributors and beauty institutes.
Bhavya Sharma, director of the India SME Forum, emphasised the importance of continuous personal and professional growth, encouraging women entrepreneurs to learn from successful individuals and adopt a lifelong learning approach. She highlighted the importance of family support, networking, and guidance from mentors and industry associations. She urged them to cultivate a positive mindset, trust their instincts, and maintain mental clarity through planning, reflection, and meditation. “Failure is just a stepping stone to success, learn from your mistakes, take corrective actions, and ‘dream wide eyed’ – she advised aspiring women who wished to plunge into entrepreneurship.
Women entrepreneurs are undeniably reshaping Goa’s entrepreneurial landscape, with numerous small, medium, and micro entrepreneurs, as well as self-help groups, fostering inclusive and sustainable economic growth.
(The writer is Laghu Udyog Bharati, Goa State President, Assocham Women Empowerment Chair, and a member of the GCCI Managing Committee)
