Goldman Sachs recently announced that at least 200 women entrepreneurs in India are set to raise approximately Rs 850 crore ($100 million) from investors. This funding is expected to help these women grow their businesses and create new jobs across various sectors.
The initiative, called ‘Goldman Sachs 10,000 Women,’ aims to support the untapped potential of women entrepreneurs. Union Minister for Commerce and Industry, Piyush Goyal, spoke at the event and highlighted the success of the program. He mentioned that 3,500 women from the initiative have already created job opportunities and driven significant economic activities.
Minister Goyal expressed his confidence that women entrepreneurs will continue to break barriers and inspire others. He also emphasized that this initiative plays a vital role in achieving India’s goal of becoming a developed nation, or “Viksit Bharat,” by 2047.
Supporting Women Entrepreneurs
The ‘Goldman Sachs 10,000 Women Finance for Growth’ initiative was launched in 2023 in collaboration with NSRCEL, the incubation arm of IIM Bangalore. More than 400 women entrepreneurs have already participated in the program, which focuses on improving their understanding of business finance. The program also provides mentoring, networking opportunities, and connects the entrepreneurs with potential investors.
Asahi Pompey, the global head of Goldman Sachs’ Office of Corporate Engagement, explained that empowering women entrepreneurs with the right skills and mentorship is essential for sustainable business growth. This initiative also helps create new jobs, generate wealth, and drive economic growth.
Impact on Business Growth and Job Creation
The initiative aims to bridge the gap in accessing finance for women entrepreneurs. By equipping them with knowledge about financial opportunities and connecting them with investors, Goldman Sachs hopes to unlock significant business growth for these women. This, in turn, is expected to lead to the creation of more job opportunities and contribute to India’s overall economic development.
Sonjoy Chatterjee, the Chairman and CEO of Goldman Sachs in India, also emphasized the importance of this program in helping women-led businesses access the right kind of finance at the right time.
This partnership between Goldman Sachs and women entrepreneurs in India is a powerful step toward creating more business opportunities, supporting women-led growth, and generating new jobs for the economy. With the right investments and resources, these women are poised to break new ground and help shape India’s future.
