Are you curious about the various initiatives launched by the government to support and encourage entrepreneurship in India? Do you want to know how the government is empowering women and boosting the growth of the millet market?
In this article, TICE brings you the latest updates and news on three important government initiatives aimed at promoting entrepreneurship and economic growth in India - Women Entrepreneurship, Millets Meet and The E-Market Place.
By providing financial and technical support to entrepreneurs, these initiatives aim to not only empower women and increase the income of farmers but also contribute to the overall growth of the country.
Empowering Women through Government Initiatives
In a bid to encourage and support women entrepreneurship, the government has launched various initiatives and schemes. These initiatives aim to provide women with the necessary resources, support and encouragement to start and grow their own business. Some of the key initiatives launched by the government include:
Mahila Udyam Nidhi Scheme
This scheme provides financial assistance to women entrepreneurs for setting up new enterprises or for the expansion of existing ones.
This is an online marketplace exclusively for women entrepreneurs, where they can showcase and sell their products.
Stand-Up India Scheme
This scheme provides financial assistance to women entrepreneurs in the form of loans to set up their own business.
Women Entrepreneur Quest (WEQ)
This initiative is aimed at fostering entrepreneurship among women by providing them with mentorship, training, and networking opportunities.
The government is taking various steps to empower women through entrepreneurship by providing them with financial, technical and mentorship support. By promoting women entrepreneurship, the government aims to not only improve the economic status of women but also contribute to the overall growth of the country.
Millets Meet: APEDA Harnesses Export Opportunities for Indian Millets
The Agriculture and Processed Food Products Export Development Authority (APEDA) recently organized a Virtual-Buyer Seller Meet to harness export opportunities for Indian millets in the United Arab Emirates (UAE). The meet was organized in association with the Indian Mission in UAE and was led by the Indian Ambassador to UAE.
APEDA launched an e-Catalogue for UAE containing information on various Indian millets and their value-added products. The catalogue was circulated to potential importers, exporters, startups, and other stakeholders in the millet supply chain.
During the meet, various importers, exporters, startups and other stakeholders in the millet supply chain participated and explored the export opportunities of millets and its value-added products.
India is one of the leading producers of millets in the world and has recorded a growth of 27% in millet production in 2021-22. The government is promoting the export of millets and value-added products of millets to increase the income of farmers. The millets market is estimated to grow from its current value of more than USD 9 billion to over USD 12 billion by 2025.
The E-Market Place: Boosting Entrepreneurship through Digital Platforms
The Government e-Marketplace (GeM) has achieved a Gross Merchandise Value (GMV) of ₹ 1.5 lakh crore in the Financial Year 2023. The platform has been growing steadily since its inception and has surpassed a cumulative GMV of ₹ 3 lakh crore.
With more than 66,000 government buyer organizations and over 58 lakh sellers and service providers, GeM has also crossed 1.3 crore transactions.