As a nation, we have long idolised male business icons like Ratan Tata and Dhirubhai Ambani, for their entrepreneurial spirit and business bravado. This is good: in the age of economic creativity, we need successful role models to fuel our generation's business imagination, and teach them how to succeed despite the missing infrastructure and convoluted laws of our land.
The number is only growing faster with time. Yet, despite the material success and social change that India's women entrepreneurs have earned, their names are far from becoming everyday household discussion topics.
To reverse this trend, and acknowledge Indian women's business success, I trace some of these leaders' life stories and the useful lessons they teach all entrepreneurs -- male or female.
India's microfinance success story owes much to Ela Bhatt's grit and social consciousness. Bhatt is the founder of the Self-Employed Women's Association (SEWA) which provides microfinance funding and entrepreneurial training to thousands of women across India.
Bhatt, a noted Gandhian, started SEWA in 1972, to support the large number of women working in India's unorganized labour sector. From traditional garments and textiles to solar-powered bulbs and lighting products, SEWA women have found entrepreneurial success through a diverse line of ventures. SEWA supports more than 9,00,000 women in their business journeys through financing, publicity, legal help and other social and justice-based issues.
Ela Bhatt has been awarded the Padmashri, the Padmabhushan and the Magsaysay Award, in recognition of her contribution to women's economic and social empowerment in India. Her story is the best example there is of small things making a huge difference. SEWA began by giving out small loans to women to start their entrepreneurial journeys. Today, it has led a revolution in micro financing and even impacted India's regulations within the unorganized sector, in favour of the countless self-employed women. Most importantly, SEWA has taught women that anything is possible: it is possible to be a woman and succeed in a largely male-dominated society, it is possible to grow large enterprises even if you start small, it is possible to do good while doing well for yourself, and it is possible (and very beneficial) for women to support and strengthen each other in their journey towards economic freedom and social well-being.
Kalpana Saroj was bullied and discriminated against in school for being an "untouchable" Dalit. At the age of 12 she was forced into a violent marriage with a man 10 years older than her. However, this resilient entrepreneur didn't let either India's archaic caste system or the illegal practice of child marriage get in her way. She escaped her marriage and learnt tailoring to support herself, moving to Mumbai at the age of 16. Working nearly 18 hours a day, she expanded her business as a seamstress, building a reputation as a smart business woman. This eventually led to her being asked to take over Kamani Tubes, a metal engineering company that was in deep debt.
Saroj turned the company around into a giant profit making business, worth more than $100 million. Today, her company employs people from all castes and background. Her courage of conviction and battle against deeply-ingrained social evils gives hope to aspiring entrepreneurs within India's many under-represented minorities, that in the business world, all that matters is determination. Her spirit of relentless enterprise make Kalpana Saroj one of India's most inspiring entrepreneurs, who stand as factual evidence of an India changing for the better.
The greatest mark of a successful social entrepreneur is the impact that she can have on other aspiring entrepreneurs. By the yardstick, Chetna Gala Sinha is a resounding success. In 1997, she founded the Mann Deshi Mahila Sahkari Bank, a microfinance bank that lends to women in drought-prone areas in Maharashtra, and inspires them on a journey towards economic self-sufficiency. The organization provides both financial and non financial (vocational) help to improve the standard of living of women in rural India. She has also started several linked initiatives, such as the Mann Deshi Udyogini (a Rural Business School for Rural Women), and the 1000 Deshi Entrepreneurs Program (which aspires to create business role models of 1,000 promising rural women entrepreneurs by helping them achieve significant economic growth.)
Ms. Sinha has won many accolades for her work as the chairperson of Mann Deshi Mahila Bank, including the recognition as a "Bridge Builder" by Harvard University and as a "World Fellow" by Yale University. Her story is a message of empowerment and dedication for all social entrepreneurs. India's rural women often bear the brunt of climatic factors and stringent government regulations, making it appear as if there is no way out of the cycle of poverty. Ms. Sinha's persistent efforts have proven that even in one of the most arid areas of India, prosperity is an achievable reality.
One of the most famous women entrepreneurs of India, Kiran Majumdar Shaw is often heralded as the pin-up woman for the women entrepreneurs of India. This recognition is well deserved: as the founder of the hugely successful Biocon, a biotech firm in India, she has led the movement of innovation and growth within India's biotechnology sector. Biocon's strong manufacturing capabilities and its global scale have helped it become one of the world's leading biotech companies. Much of its $900 million worth can be attributed to Ms. Shaw's vision of affordable, yet innovative healthcare products.
While her success in her business venture is constantly honoured by the business fraternity, her prominent role in encouraging young entrepreneurs is worthy of even greater applause. Ms. Shaw regularly doles out business advice and encouragement to young start-ups and is one of the most accessible business leaders because of her social media savvy.
You may disagree with the ideology embodied by her demure television heroines or with the boldness of her movie protagonists, but Ekta Kapoor has redefined the Indian TV world, and in small parts, led the charge towards more women-centric features in Hindi cinema as well. In a purely male-dominated world, The Dirty Picture redefined the debate about strong women and their sexuality and sparked worthwhile debate about women's liberation 2.0. As the creative head of Balaji Telefilms Ltd., she produced serials like "Kyunki Saas Bhi Kabhi Bahu Thi" which tapped into the desires (and some would argue, the real, unrevealed lives) of women consumers in India.
Detractors continue to argue that her serials are regressive, and there might be some truth to that. But she has taught several aspiring TV serial and film makers how to raise social issues like women's liberation, marital infidelity and the homemaker's identity within more traditional settings. As a result, current serials like Balika Vadhu have been able to raise deeper social issues by capitalizing on the space created by Ms. Kapoor's serials, and her social as well as business contributions to the world of television and cinema will continue to impact the portrayal of women in our entertainment culture.
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