India’s entrepreneurial landscape is witnessing a remarkable rise in women-led businesses, thanks to a series of government-backed schemes aimed at empowering women in entrepreneurship. These initiatives offer financial assistance, training, and mentorship, all of which are designed to remove barriers and promote gender equality in business. Whether you’re looking to start your own business or scale an existing venture, these government schemes provide essential resources for women entrepreneurs to thrive.
Here’s a list of the top 10 Indian government schemes for women entrepreneurs, along with their descriptions, mandatory conditions, and how to apply.
Stand Up India Scheme
The Stand Up India Scheme aims to provide financial support to women entrepreneurs, especially in the manufacturing, services, and trading sectors. It offers loans between ₹10 lakh and ₹1 crore to women entrepreneurs from SC/ST and OBC categories.
Mandatory Conditions:
- The borrower should be from the SC/ST or OBC category.
- The business should be a Greenfield project (a new venture).
- The loan should be used to fund a new enterprise.
How to Apply:
- Visit the official website of the Stand Up India scheme or approach any scheduled commercial bank.
- Apply through the bank’s online portal or physical branch.
Mandatory Registration Required: No specific registration required, but the borrower needs to be registered under the relevant categories (SC/ST/OBC).
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Bhartiya Mahila Bank Business Loan (BMB)
The Bhartiya Mahila Bank Business Loan is aimed at providing loans to women entrepreneurs for various business needs. This loan is ideal for women-owned small and medium enterprises (SMEs) looking for working capital or expansion funds.
Mandatory Conditions:
- The applicant should be a woman entrepreneur.
- The business should be operational and should have a good credit history.
How to Apply:
- Visit the Bhartiya Mahila Bank branch or apply online through their official website.
Mandatory Registration Required: MSME registration or business registration is required..
Mahila Coir Yojana
This scheme focuses on promoting women’s employment in the coir industry, particularly in rural areas. It provides financial assistance to women entrepreneurs for the production of coir and coir products.
Mandatory Conditions:
- Women entrepreneurs should be involved in the production of coir or coir products.
- The business should be based in rural areas.
How to Apply:
- Apply through the Coir Board’s official website or visit a Coir Board regional office.
Mandatory Registration Required: Coir Board registration is mandatory.
Pradhan Mantri Mudra Yojana (PMMY)
PMMY provides funding to micro and small enterprises with loans of up to ₹10 lakh. It’s an excellent scheme for women entrepreneurs who need capital to start or expand their business in sectors such as manufacturing, retail, and services.
Mandatory Conditions:
- The applicant should be a woman entrepreneur.
- The loan amount should not exceed ₹10 lakh.
How to Apply:
- Apply through any bank or financial institution that offers Mudra loans.
- The application can be submitted online or at a bank branch.
Mandatory Registration Required: MSME or Udyog Aadhaar registration is recommended.
Dena Shakti Scheme
Dena Shakti Scheme is specifically designed for women entrepreneurs, offering financial assistance for agricultural, retail, manufacturing, and services businesses. It provides loans up to ₹20 lakh to women entrepreneurs for setting up new ventures.
Mandatory Conditions:
- The applicant must be a woman entrepreneur.
- The business must be operational in agriculture, retail, or manufacturing.
How to Apply:
- Visit any branch of Dena Bank to apply for the loan.
Mandatory Registration Required: No mandatory registration required, but the business should be registered.
Women Entrepreneurship Platform (WEP)
The Women Entrepreneurship Platform, launched by NITI Aayog, provides a platform for women to access resources, mentoring, networking, and funding. The platform connects women entrepreneurs with potential investors, helping them grow their businesses.
Mandatory Conditions:
- Open to women entrepreneurs from all sectors.
How to Apply:
- Register on the official WEP website (https://wep.gov.in/).
- Fill out the application form and submit the required documents.
Mandatory Registration Required: Registration on WEP portal is mandatory.
StartUp India Scheme
The StartUp India Scheme promotes the growth of startups by offering benefits such as tax exemptions, easier regulatory requirements, and funding opportunities for women entrepreneurs. The initiative encourages women to innovate and start their own businesses.
Mandatory Conditions:
- The applicant should be a woman entrepreneur.
- The business should be in the form of a startup and should be registered under the Startup India scheme.
How to Apply:
- Visit the official Startup India website and register your startup.
- Submit the necessary documents and wait for approval.
Mandatory Registration Required: Startup India registration is required.
Nari Shakti Puraskar
The Nari Shakti Puraskar is an award conferred by the Government of India to recognize exceptional women entrepreneurs for their contribution to various fields, including business. This scheme provides recognition and a platform for women entrepreneurs to get more visibility.
Mandatory Conditions:
- The applicant should be a woman entrepreneur.
- Must have made a significant contribution in the field of business.
How to Apply:
- Nominations are invited annually by the Ministry of Women and Child Development.
Mandatory Registration Required: No registration required for the award itself, but eligibility criteria must be met.
Trade Related Entrepreneurship Assistance and Development (TREAD)
TREAD scheme offers financial support for women to start their own business in the manufacturing and service sectors. The objective of this scheme is to promote women’s empowerment through entrepreneurship by providing them with financial aid.
Mandatory Conditions:
- The applicant must be a woman entrepreneur.
- The business should fall under manufacturing or service sectors.
How to Apply:
- Apply through the official website of the Ministry of Micro, Small, and Medium Enterprises (MSME).
- Submit the required documents and business proposal.
Mandatory Registration Required: MSME registration is required.
National Rural Livelihood Mission (NRLM)
The NRLM, under the Ministry of Rural Development, offers financial and technical support to women entrepreneurs in rural areas. It aims to improve the livelihood of women by creating sustainable self-employment opportunities.
Mandatory Conditions:
- The applicant must be a woman entrepreneur from a rural area.
- The business should focus on providing sustainable livelihoods.
How to Apply:
- Visit the official NRLM website or approach the local district office to apply.
Mandatory Registration Required: Registration under NRLM or the local self-help group (SHG) is required.
Wrap Up
The Government of India has launched several empowering schemes designed to uplift and support women entrepreneurs. From providing financial assistance through loans to offering mentorship and networking opportunities, these initiatives cater to women from various sectors and backgrounds.
Whether you’re starting a business or scaling up an existing venture, these schemes provide the necessary resources for success. Make sure to check the eligibility criteria, understand the application process, and leverage these opportunities to take your business to the next level.
