'20-25 % Of Businesses In India Being Run By Women', Says Sugar Cosmetics CEO Vineeta Singh

'20-25 % Of Businesses In India Being Run By Women', Says Sugar Cosmetics CEO Vineeta Singh

When it comes to breaking into international markets, Vineeta acknowledges the existence of barriers, especially as a woman entrepreneur.

ANIUpdated: Friday, March 08, 2024, 01:22 PM IST
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New Delhi [India], March 8 (ANI) In the ever-evolving landscape of entrepreneurship, women are not just participants but pioneers, reshaping industries, challenging norms, and driving economic growth.

Shark Tank fame Vineeta Singh, the CEO of Sugar Cosmetics, sheds light on the challenges, triumphs, and future prospects of women in business.

When it comes to breaking into international markets, Vineeta acknowledges the existence of barriers, especially as a woman entrepreneur.

"Just generally starting the beauty brand back in 2015 and trying to raise capital and getting into retail stores, there were a lot of barriers. I think one of the barriers was that in general, if you look at statistics, I think in India, less than 2 per cent of the capital goes to women-led companies" Vineeta Singh said.

"There are very few women consumer companies that are actually being run by women. Most of them are run by men. I realized that it was much harder for women to, in the early days, get trust from investors, get trust from business partners and, of course, raise money. But we managed to overcome those barriers and we have over the last few years also attracted to international markets" she added.

Rise of women entrepreneurs and techpreneurs

The uphill battle for funding is a common plight for many women entrepreneurs. Despite possessing innovative ideas and business acumen, women often face greater skepticism and scrutiny from investors compared to their male counterparts.

Reflecting on the impact of gender diversity in entrepreneurship, Vineeta emphasizes the tangible benefits it brings to organizations.

Singh said, "If you look at it as having economic value, organizations that have more women are more profitable. Similarly, there is a study done by McKinsey that says that while today less than 20 per cent of the workforce participation is from women, if that number goes up by 10 per cent, there can be a potentially USD 800 billion GDP impact".

Women are not just participants but trailblazers, reshaping industries and redefining success, in the bustling entrepreneurial landscape of India.

The rise of women entrepreneurs and techpreneurs in India is not merely about breaking barriers; it's about constructing pathways to a more inclusive economy.

Shweta Baisla, the CFO and Wholetime Director of Sona Machinery Ltd, said, "As women Entrepreneurs and Techpreneurs rise in India, they're not just breaking barriers; they're building bridges to a more inclusive economy. With 63 million MSMEs, 20 per cent being women-owned, and employing 22 to 27 million people, their impact is undeniable. Amidst the Technological landscape, several unicorns, founded by women symbolize the pinnacle of success." The essence of empowerment and collaboration among women in business, highlight their pivotal role in shaping India's economic landscape.

Meenakshi Dawar, the Founder and CEO of Gracias Living, told ANI, "I'm inspired by strong women changing business and reshaping India's economic growth. Together, we overcome obstacles, make a difference, and inspire others. Empowered women are vibrant threads that add depth, character, and beauty, creating a future where problems disappear and chances are everywhere." By venturing into entrepreneurship, women are breaking barriers, defying stereotypes, and carving out their space in the economy.

'Business with humanity & simplicity'

While speaking to ANI, Shabnum Khan, the Founder of Mandrake Mydia and 750AD Healthcare Pvt. Ltd, said, "In the evolving entrepreneurial landscape of India, women now constitute nearly 14 percent, marking a seismic shift. This triumph reflects their perseverance, challenging traditional gender roles and propelling economic growth." Aanchal Shrivastava, an indie artist, stated, "From being employed by a women entrepreneur, learning a code of conduct of business with humanity & simplicity, to paving my own path of being one of them, is my Yatra." Women entrepreneurs are emerging as the architects of a new era, reshaping the landscape of business with their distinctive approach and leadership style.

Their ability to multitask effectively and lead with nurturing guidance sets them apart, allowing them to redefine the traditional notions of business success.

Mugdha Pradhan, the CEO and Founder of iThrive, said, "Women entrepreneurs are the architects of a new era, redefining business success with a paradigm built on multitasking prowess and nurturing leadership. Their approach prioritizes sustainable growth, fostering environments that nourish creativity while safeguarding against burnout".

Unlike conventional models focused solely on profit, women entrepreneurs prioritize sustainable growth, aiming to create environments that foster creativity and innovation while ensuring the well-being of their teams.

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