Financial Literacy Builds Confidence In Women Entrepreneurs, Says Shamina Singh

By Jui Dharwadkar
Hindustan Times, New Delhi

WWR Article Summary (tl;dr) To help women entrepreneurs in India, Mastercard will undertake a comprehensive research study to understand the breakdown of digital payments within the supply chain. This article includes a Q&A with Shamina Singh, president of Mastercard’s Centre for Inclusive Growth.

Hindustan Times, New Delhi

Opportunities for women entrepreneurs have been growing globally. Women from different walks of life are seen experimenting with various business models and are carving a place for themselves with their entrepreneurial skills.

In India too, the number of women entrepreneurs is growing, but it is very small when compared to the opportunities the market has to offer.

Recently, Mastercard, a leading technology company in the global payments industry, released the second edition of the Mastercard Index of Women Entrepreneurs (MIWE). Shamina Singh, president, Mastercard Centre for Inclusive Growth, speaks to Jui Dharwadkar about the findings of this index.

Question: What has prompted Mastercard to survey the index of women entrepreneurs?

Answer: The survey aims at understanding the changing market trends and where women stand as entrepreneurs. Currently, globally and even in India, there are a lot of opportunities for women entrepreneurs which will continue to grow.

Women also face certain unique challenges while starting a business such as that of getting loans from banks. The survey was carried out to understand all these facets. The index focuses on female entrepreneurs’ ability to capitalize on opportunities granted through various supporting conditions within their local environments.

Question: Where does India stand in Mastercard Index of Women Entrepreneurs (MIWE)?

Answer: India ranks 52nd among the 57 countries studied. The index is not really about the ranks, but focuses more on understanding the challenges faced by women entrepreneurs. The results suggest that the underlying conditions for women business ownership/entrepreneurship in India are less favorable as compared to countries with a high index score.

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