AP Chambers for bigger role for woman entrepreneurs

Guntur: Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) president Potluri Bhasara Rao on Sunday said women’s participation in the economy is essential for the sustainable economic development, gender equality and poverty alleviation.

He was speaking at a programme organised in connection with the inauguration of AP Chambers’ Central Zone Women Entrepreneurs Wing here. He said at present, women’s economic contribution in India accounts for only 17 per cent of the GDP, which is less than half the global average. The World Bank reports that India could increase GDP growth by 1.5 percentage points by including 50 per cent of the women in the workforce.

Rao pointed out that McKinsey Global Institute (MGI) estimated that India could boost its GDP by $700 billion by bringing 68 million more women into India’s workforce by 025.

He added, “India has 63 million MSMEs of which around 20 per cent are women-owned, employing 22 to 27 million people. Women own only 20 per cent of all enterprises in India. 82 per cent of these women-led enterprises are micro units that are run as sole proprietorships while most are concentrated in the informal sector. Evidence suggests that businesses with at least one female founder have a more inclusive work culture, employ three times more women than men and generate 10 per cent more cumulative revenue. AP Chambers is initiating its Women Entrepreneurs Wing in Guntur with the objective of encouraging women entrepreneurs from Guntur and neighbouring regions, he stated.

The Women Entrepreneurs Wing of AP Chambers was launched in 2021 in Visakhapatnam. The Women’s Wing in Visakhapatnam currently has around 100 women entrepreneurs as members and has been actively working for the past two and half years supporting and encouraging women entrepreneurs in the region.

AP Chambers has taken the initiative to start its Central Zone Women Entrepreneurs Wing in Guntur with women entrepreneurs from Guntur and neighbouring districts.

The objective of the Women Entrepreneurs Wing is to empower women and make them a part of the economic development of the State. Business women, budding entrepreneurs and professionals can be part of the Women Wing.

Sakku Madhavi Latha took charge as the Chairperson of the Central Zone Women Entrepreneurs Wing and Dr Rayapati Mamatha took charge as the Vice Chairperson.

Vignan University Chairman Dr Lavu Rathaiah was the chief guest. Besides Bhaskara Rao, executive vice president L Raghu Rami Reddy, general secretary B Raja Sekhar, Women Entrepreneurs Wing Chairperson Y Geetha Srikanth spoke.