Financing options not adequate for women entrepreneurs

Financial institutions are sceptical in funding women-run ventures and this is specially true for SMEs.

Majority of Indian women entrepreneurs engaged in gems and jewellery sector feel financial institutions are sceptical in extending funds for their ventures,especially to small and medium units,an industry body survey has said.

“Financial institutions are sceptical in funding women-run ventures and this is specially true for SMEs. Financing is weak as banks are cautious in extending credit to female entrepreneurs,” Ficci said in a survey.

This could be attributed to women being first generation entrepreneurs in the gems and jewellery sector,which has been mainly dominated by males,it said.

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The chamber said it has surveyed about 40 women engaged in the sector across the country. The survey said respondents feel that financing options are not adequate in India.

Also,women entrepreneurs face a number of operational hindrances right from raw-material procurement,shortage of skilled manpower to retail,it said.

Further,the survey said,the government needs to focus on boosting training facilities so that skilled manpower is easily available for the sector.

“Skill enhancement centres should also be set up with an aim to develop skills amongst craftspersons,” it said.

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The chamber has asked the government to take specific steps to encourage more women entrepreneurs so that the growing potential of this sector is tapped.

At present,the size of India’s gems and jewellery sector is over Rs 1.30 lakh crore.