Empowering Women Business Owners in India: WEConnect International and U.S. Department of State Host Key Events to Advance Gender-Inclusive Supply Chains
On July 31-August 1, 2024, over 45 women business owners from throughout India participated in the Supplier Development Masterclass in New Delhi, an advanced training program featuring in-depth lessons on business strategy, marketing, technology, negotiation, and sales. The class culminates in a pitch session where participants will present their businesses to a panel of buyers, providing valuable feedback and potentially opening doors to new business opportunities.
On August 9, 2024, the InclusionXchange: Learning and Networking Meet was held in Hyderabad, featuring a keynote address from U.S. Consul General Ms. Jennifer Larson. This dynamic platform aims to facilitate learning and foster business connections between women-owned businesses and corporations. The event brought together over 70 women-owned businesses, corporations, and business associations to promote diversity within supply chains and enhance inclusive sourcing practices.
India is home to over 13.5 million women-owned businesses, representing about 20% of all enterprises in the country. Despite this significant presence, women entrepreneurs face numerous challenges, including limited access to finance, markets, and networks. Supplier diversity and inclusion initiatives are crucial in addressing these challenges by creating more opportunities for women-owned businesses to participate in larger supply chains.
Gender-responsive sourcing is not only a matter of social justice but also makes good economic sense. Studies have shown that companies with diverse supply chains are more innovative and resilient. In India, promoting gender-inclusive supply chains can significantly contribute to the country’s economic growth by unlocking the potential of women entrepreneurs and ensuring a more equitable distribution of economic benefits.
These events are part of WEConnect International’s Women’s Empowerment Through Economic Inclusion initiative funded by the U.S. Department of State’s Bureau of South and Central Asian Affairs. The initiative focuses on generating long-term opportunities for women-owned businesses to connect and conduct business with large buyers, including local and multinational corporations, government agencies, and non-profit and non-governmental organizations in India, Bangladesh, Maldives, and Sri Lanka.
In her remarks, U.S. Consul General Jennifer Larson stated that “the U.S. Embassy and Consulates work with local stakeholders to advance women’s economic empowerment, health, security, and civic participation” so that “women are equipped with the funds and knowledge to excel.” She added that the United States prioritizes women’s economic security because “we recognize an investment in women and girls today is a bid for a more prosperous tomorrow.”
“We are proud to partner with the U.S. State Department to advance supplier diversity and inclusive sourcing in the region. These initiatives are pivotal in creating economic opportunities for women- owned businesses and driving positive social change,” says Saritha Venumbaka, Chief Operating Officer of WEConnect International.