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India has a range of government schemes designed to empower women entrepreneurs, offering financial aid, loans, training, and support for setting up or expanding businesses. These initiatives are a lifeline for women, particularly those in rural or underserved areas, who seek financial independence and want to build a successful enterprise. On this page, we’ll provide a detailed overview of key government schemes, loans, and grants available for women entrepreneurs, along with practical guides on how to apply.
The Government of India has been actively working towards women empowerment by introducing financial programs that aim to reduce the gender gap in business and entrepreneurship. These schemes are especially beneficial for women who face challenges in accessing capital, skill development resources, and entrepreneurial training. By providing financial support and training, these programs encourage more women to start their own ventures, thus contributing to India’s economic growth and social development.
1. Pradhan Mantri Mudra Yojana (PMMY)
The PM Mudra Yojana offers loans to women entrepreneurs looking to start or expand micro and small businesses. This loan, which ranges from Rs. 50,000 to Rs. 10 lakh, is designed to support activities like manufacturing, trading, and services. Women can apply under three categories: Shishu (up to Rs. 50,000), Kishore (Rs. 50,000 to Rs. 5 lakh), and Tarun (Rs. 5 lakh to Rs. 10 lakh).
To apply, women need to submit a detailed business plan to participating financial institutions, which include public and private sector banks, rural banks, and microfinance institutions.
Eligibility:
Women starting new businesses or looking to expand their existing businesses.
Self-help groups (SHGs) or joint liability groups.
2. Stand Up India Scheme
The Stand Up India Scheme provides loans to women entrepreneurs, especially from SC/ST backgrounds, to start greenfield projects. The loan ranges from Rs. 10 lakh to Rs. 1 crore and can be used for setting up enterprises in manufacturing, trading, or service sectors.
Key Features:
Loans are available with a repayment period of 7 years.
75% of the project cost is covered by the loan.
Women must contribute 10% of the project cost from their own funds.
How to Apply: Women can apply online through the Stand Up India portal or visit any bank branch that participates in the scheme.
3. Mahila Udyam Nidhi Scheme (SIDBI)
The Mahila Udyam Nidhi Scheme by the Small Industries Development Bank of India (SIDBI) provides soft loans to women entrepreneurs for small-scale industries. This scheme is aimed at offering financial assistance to new as well as existing women entrepreneurs for modernization, expansion, and diversification of their business.
Benefits:
Loans up to Rs. 10 lakh are provided at competitive interest rates.
The repayment period can go up to 10 years.
Women interested in this scheme can approach SIDBI directly or apply through partnering financial institutions.
4. National Small Industries Corporation (NSIC) Subsidy
The NSIC Subsidy offers various financial benefits to women involved in small industries. This includes financial assistance for raw materials, marketing support, and credit rating. The NSIC helps women entrepreneurs access necessary resources for expanding their businesses.
How to Apply: Women can apply for NSIC assistance by registering their small businesses with the NSIC online portal and providing relevant documentation regarding their business operations and financials.
5. TREAD Scheme
The Trade-Related Entrepreneurship Assistance and Development (TREAD) Scheme provides government grants of up to 30% of the project cost for training women entrepreneurs. Additionally, women’s cooperatives can access loans at reduced interest rates.
Eligibility:
Women entrepreneurs engaged in non-farming activities.
Self-help groups and NGOs are also eligible to apply on behalf of women.
Women can approach their local financial institutions or cooperative banks to apply for the TREAD scheme.
6. Support to Training and Employment Program for Women (STEP)
The STEP Scheme provides training to women entrepreneurs in sectors such as agriculture, fisheries, handloom, handicrafts, and more. The program aims to increase the employability of women and help them achieve economic empowerment through vocational training.
Key Features:
Training is offered free of charge or at a highly subsidized rate.
Programs last between 3 to 6 months and cover practical skills as well as entrepreneurship development.
To join a STEP program, women can apply through registered training centers that offer these courses or visit the official STEP portal.
7. NABARD’s Women Entrepreneur Scheme
The National Bank for Agriculture and Rural Development (NABARD) offers financial and training support to women entrepreneurs in rural development projects. Through its Women Entrepreneur Scheme, NABARD provides financial assistance and helps women with capacity-building, business planning, and market access.
How to Apply: Women can apply for NABARD’s training programs through their regional offices or through registered NGOs working in partnership with NABARD.
8. Agriculture Schemes for Women Farmers
Women farmers can access a variety of financial aid and training programs offered by the government. These schemes help women set up agricultural enterprises, access subsidies for inputs like seeds and fertilizers, and market their produce effectively.
The Krishi Sakhi Program under the National Rural Livelihood Mission (NRLM) is one such scheme that helps women form self-help groups (SHGs) and participate in agricultural training and financial inclusion programs.
9. Textile and Handicrafts Schemes
Women involved in handloom and handicraft production can access financial aid under schemes like the Weavers’ Credit Card and MUDRA Yojana. These schemes help women expand their businesses and secure loans at lower interest rates.
Most of these schemes are offered through banks, financial institutions, and government bodies. Women can visit their local bank branches, apply online through government portals, or approach relevant NGOs for assistance in applying.
These government schemes represent a significant opportunity for women entrepreneurs to secure the funding, training, and support they need to succeed. By providing financial assistance and development programs, the government is helping women across India achieve financial independence and economic empowerment. Take the first step toward your entrepreneurial journey by exploring these opportunities today.
For more information on each scheme or to apply, visit the respective government portals or contact the Mahadev Maitri Foundation for assistance.