IASNOVA
The Government of India has implemented a range of policies designed to foster entrepreneurship among the youth. Here is a comprehensive overview of some of the key initiatives:
Small Industries Development Organisation (SIDO): Established to formulate and implement policies for small scale industries, SIDO’s functions include developing national policy, coordination with various bodies, industrial development, and providing extension services such as training and consultancy1.
The Entrepreneurship Development Institute of India (EDI): A non-profit institution aiming to produce first-generation entrepreneurs through education, research, and training, with objectives that span from creating self-employment opportunities to fostering micro-enterprises in rural sectors1.
Make in India: Launched to stimulate domestic manufacturing and attract investment, this initiative includes supporting schemes such as Skill India, Digital India, Startup India, and others, all designed to create jobs and promote sustainable economic growth1.
Support to Training and Employment Programme for Women (STEP): Focused on providing skills and competencies to women, this scheme offers self-employment opportunities in various sectors like agriculture, food processing, handlooms, and technology1.
Startup India Scheme (SIS): This scheme facilitates the establishment of startups with benefits such as ease of work, financial support, and government tenders, aiming to develop a strong ecosystem for startups in India1.
Digital India: An initiative to strengthen the technological front, it supports various aspects such as broadband highways, public internet access, e-governance, and IT jobs, among others, to create a digitized economy1.
Startup Leadership Program (SLP): A selective training program for innovators and entrepreneurs providing a support network and funding assistance to global startups2.
A Scheme for Promotion of Innovation, Rural Industries, and Entrepreneurship (ASPIRE): Encourages entrepreneurship in rural areas, especially in agro-based industries, to increase employment and innovation in these sectors2.
Pradhan Mantri Mudra Yojana (PMMY): Offers loans to non-corporate small/micro enterprises to support the growth of small businesses with various loan categories like Shishu, Kishore, and Tarun, based on the scale of business and funding requirements2.
Chunauti – Challenge Hunt Under NGIS for Advanced Uninhibited Technology Intervention: A challenge-based scheme to support startups developing pandemic-related solutions, providing incubation, mentorship, and funding support to selected startups2.
These policies reflect the Indian government’s commitment to creating a robust environment for young entrepreneurs, which is essential for the country’s economic development and innovation.
Here are specific policies and initiatives by the Indian government aimed at promoting women entrepreneurs:
Mudra Yojana: This scheme provides financial support to micro and small enterprises, with a focus on women entrepreneurs. It offers loans up to ₹10 lakhs without collateral and at lower interest rates for women1.
Stand-Up India Scheme: It supports women entrepreneurs by providing loans between ₹10 lakh to ₹1 crore for setting up new businesses. The scheme requires that women hold a 51% share in case of non-individual firms1.
Mahila Coir Yojana: Aims to empower women by providing subsidized equipment for coir processing, with up to a 75% subsidy and additional project cost support1.
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE): Offers collateral-free financing for women-operated or owned micro and small enterprises with guarantee cover of up to 85% of the loan amount1.
Prime Minister’s Employment Generation Programme (PMEGP): Encourages women to establish micro enterprises in the non-farm sector by providing a higher margin money subsidy to women entrepreneurs1.
Udyam Shakti Portal: Provides assistance to women for business planning, training, and market research, focusing on social entrepreneurship with low-cost products and services1.
Economic Empowerment of Women Enterprises and Start-ups by Women: An incubation and acceleration program for women micro-entrepreneurs to help them launch and scale up businesses, operational in Assam, Rajasthan, and Telangana2.
Trade-Related Entrepreneurship Assistance and Development (TREAD): Offers grants and loans to NGOs to assist women in entrepreneurship, with the government covering up to 30% of the project cost1.
Pradhan Mantri YUVA (PM YUVA) Yojana: A pilot scheme that provides entrepreneurship education, training, advocacy, and networking to promote women’s entrepreneurship in various Indian states and union territories2.
Rural Self Employment Training Institutes (RSETIs): A program that helps individuals, including women, to start their own micro-enterprises through training and access to bank credit2.
Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM): Focuses on eliminating rural poverty by promoting entrepreneurship among rural poor households, with significant numbers of women beneficiaries in West Bengal2.
These schemes underscore India’s dedication to empowering women through entrepreneurship, providing them with the necessary support, training, and financial assistance to start and grow their businesses.
