India is a nation built on the foundation of rationalistic ideals and values. Among the many principles that bind our nation together is the respect and reverence for women. Traditionally, women have been regarded as 'Shakti,' the embodiment of divine energy. Throughout our civilizational history, women have played a pivotal role in nation-building, contributing significantly to societal and spiritual advancements.

While much of the world was still in the hunter-gatherer phase, Indian civilization had already reached a high level of development, with people living in well-planned cities and towns, as seen in the Indus Valley Civilization. Eventually, in Vedic Era, many sages sought to understand the eternal spiritual laws that govern the universe, thus compiling these truths into the Vedas. These scriptures became the bedrock of Indian culture. Women sages, or Rishikas, such as Maitreyi, Apala, and Gargi, were instrumental in this intellectual and spiritual endeavour. They actively participated in the compilation and dissemination of Vedic knowledge. In ancient Indian society, women held a respected and esteemed position, significantly contributing to the process of nation-building through their involvement in the creation of the Vedas—the foundational scriptures of our civilization. But in medieval times, the consequences of foreign invasions and barbarism by invading armies restricted the direct participation of women in the society. The advent of British colonization marked a turning point. The exploitative policies of the British prompted women to rise above the four walls and fight for freedom. The valour of queens like Rani Lakshmi Bai in the battlefield and the courage and determination of Rani Ahilya Bai Holkar at the social battlefield fighting social stereotypes serve as lasting inspirations. The introduction of Western education by the British had a transformative impact on the status of women in India. Icons like Bhikaiji Cama, Sarojini Naidu, Aruna Asif Ali, Sucheta Kriplani and others emerged as leaders in the struggle for independence. Their contributions extended beyond the fight for freedom; they laid the groundwork for women’s active participation in nation-building in modern India.

Although there have been notable improvements in the status of women in society today, the struggles of the past still linger. In many cases, women are confined to traditional roles within the home. Despite higher literacy rates, their participation in economic activities remains limited. According to the Mastercard Index of Women Entrepreneurs (MIWE), India ranks 57th out of 65 countries in women entrepreneurship. Within the startup ecosystem, women-led ventures remain few. Data from NASSCOM indicates that only about 18% of Indian startups are led by women. Sector-wise, most women entrepreneurs are involved in agriculture (34%), followed by manufacturing (29%) and retail trade (18%). In the MSME sector, women own around 20% of Micro, Small, and Medium Enterprises (MSMEs). These data points reveal the limited participation of women in the economy. Major challenges include the responsibility of caring for young children, restrictions on travel due to safety concerns, gender bias, lack of financial support from families, and limited access to credit from formal financial institutions. Additionally, unfair trade practices by large organizations hinder the growth of startups and MSMEs led by women. Hence, to break these barriers, leveraging various novel initiatives of Digital India is necessary.

Digital India: Power to Empower

In the Indian economy, MSMEs are the hotbeds of innovation and entrepreneurship. They are the growth engines of our economy, contributing one-third to India’s GDP, and 49% of our exports are sourced from MSMEs. However, despite their importance, there are still many issues that our economy’s growth engines face. One of the key barriers to the growth of MSMEs is the significant credit gap within the sector. According to the International Finance Corporation, MSMEs face a credit shortfall of $230 billion, with over 80% unable to secure loans from formal financial institutions.

Women entrepreneurs often face significant challenges in securing loans from banks, largely due to the lengthy and complex documentation process. This process typically requires multiple visits to the bank, which poses a serious hurdle for women who also bear the responsibilities of homemaking. Balancing household duties with frequent visits to financial institutions makes it difficult for many women to meet the requirements, ultimately delaying or even denying their access to much-needed financial support. This structural barrier hampers their ability to scale and grow their businesses effectively.

To solve this problem, the revolutionary initiative of OCEN (Open Credit Enablement Network) has been launched, which effectively streamlines credit enablement using a digital platform. Through OCEN, enterprises can access credit online, connecting borrowers with lenders via a digital network, eliminating the need for multiple bank visits. This network utilizes Aadhaar to perform an eKYC of the credit seeker, and can also verify other documents such as ITR, GST returns, bank statements, profit-loss statements, and balance sheets through DigiLocker, assisting credit providers in making an offer to credit seekers. Upon negotiation, the credit amount is directly disbursed to the entrepreneur’s bank account through UPI. Thus, the entire lending process is digitized, enabling women entrepreneurs to avail loans completely online, scale their businesses, create more jobs, nurture entrepreneurship among women, empower them, and foster economic growth.

Another significant barrier that women entrepreneurs and their enterprises face is the lack of digital market access. Women-led enterprises produce a variety of products such as food items (e.g., Lijjat Papad), Khadi apparel, handlooms, handicrafts, and more. However, in India, the digital marketplace is largely dominated by a duopoly of e-commerce giants. Rather than serving as mere platforms, these companies use the marketplace model to monopolize the e-commerce industry. With access to vast amounts of sales data, they can predict customer trends and implement deep discounting strategies, which makes it difficult for products from small enterprises to compete. As a result, many smaller enterprises are forced out of the market.

To address this, ONDC (Open Network for Digital Commerce) has been launched as part of the Digital India initiative. This network connects small e-commerce sites and creates a publicly-owned digital marketplace, enabling anyone to sell their products across platforms within the network. By democratizing digital commerce, ONDC allows women entrepreneurs to sell their products throughout India, reaching customers far and wide, and overcoming the monopoly of large platforms.

Beyond the Barriers

In the era of ‘Amrit Kaal’, as we embark on the journey toward achieving Viksit Bharat or a developed India by 2047, a crucial part of this mission is to restore the status and respect that Indian women once held on this soil, but which was sacrificed during centuries of foreign rule. As Swami Vivekananda aptly said, “The best thermometer to the progress of a nation is its treatment of women.” By leveraging Digital India technologies, we can significantly increase women’s participation in the economy and nation-building. This would not only empower women financially but also help them regain the respect they deserve within society.

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