Prime Highlights-
- India opens nearly 300 million bank accounts for women, extends collateral-free loans to first-time borrowers without any credit history.
- Over 30 million women now cross the Rs. 1 lakh income mark, earning the title Lakhpati Didi under India’s rural empowerment push.
Key Facts-
- Goyal calls for BRICS unity to boost women-led trade opportunities.
- India strengthens financial inclusion, empowering women as growth drivers.
Background-
Union Minister of Commerce and Industry Piyush Goyal has urged BRICS nations to work together to expand trade opportunities for women entrepreneurs and women-led enterprises worldwide. He called for easier access to credit, markets and predictable business rules, saying such measures would give women entrepreneurs greater confidence to participate in cross-border trade.
Goyal highlighted India’s efforts to empower women financially, socially and educationally, while also improving their skills and quality of life, positioning them as key drivers of the country’s economic growth. He recalled that around a decade ago, most women, particularly in rural India, had yet to open bank accounts, hold assets in their own names or build credit histories, which limited their access to loans.
He explained that India has since registered properties in women’s names, opened close to 300 million bank accounts for them and extended collateral-free loans to women starting new ventures, even those without prior credit history.
Goyal added that nearly 100 million rural women now take part in around nine million self-help groups and small cooperatives, working together on different ideas and enterprises.
He noted that more than 30 million women now earn above Rs. 1 lakh in personal income, a group he called Lakhpati Didis. India aims to keep growing both their numbers and earnings, he said, reflecting the country’s continued commitment to strengthening women’s economic participation on a larger scale.
