Goldman Sachs’ 10,000 Women project generates 28 Billion rupees in revenue and 12,000 jobs.
Goldman Sachs released the findings of its 10,000 Women study today, showing that within 18 months of programme completion, the Business and Management Education initiative for Women Entrepreneurs, developed and entirely funded by the International Financial Institution, had contributed to the creation of about 12,000 new jobs and added Rs 28 billion in revenue to the Indian economy.
The 10,000 Women programme was originally introduced in India in 2008 and offers women company owners access to funding, mentorship, and business and management education.
In a year when India is hosting the G20 conference and has identified “women-led development” as one of the primary objectives, the study gains additional relevance.
The research by Indian School of Management of more than 2,400 Women Entrepreneurs who took part in Goldman Sachs’ 10,000 Women project throughout India served as the foundation for the report, Breaking Barriers: Unlocking the Potential of Women Entrepreneurs.
The study indicated that after 18 months of graduating from the programme, participants in the 10,000 Women programme had doubled their current workforce, quadrupled their income, and boosted their productivity by a factor of five. Most graduates who responded to the study indicated they anticipated growing their workforce and income, but more than half expressed anxiety about having access to funding possibilities and global markets.
The 10,000 Women research examined how female business owners are putting what they have learnt from the program into practice and how they hope to profit from India’s new economic trends. Using digital technology to promote innovation and efficiency, promoting “Made in India” by exporting to foreign markets, and utilizing a talent pool that is internationally competitive are a few of these.
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