SPJIMR leads dialogue on women-led MSMEs
June 27, 2025
SPJIMR hosted the International MSME Day 2025 celebration, bringing together industry leaders, policymakers, and academia to discuss the theme, ‘Building the policy framework to promote women entrepreneurship’. The event was organised by the FICCI Maharashtra State Council in collaboration with FICCI FLO Mumbai Chapter and institutional partners.
Opening session set the tone
The event began with a traditional lamp-lighting ceremony with Dinesh Joshi, Co-chair, FICCI Maharashtra State Council; Shirani Ariyarathne, Acting Consul General, Consulate General of Sri Lanka in Mumbai; Pooja Arambhan Tiwari, Chair, FICCI FLO Mumbai Chapter; Varun Nagaraj, Dean, SPJIMR; Tulsi Jayakumar, Executive Director, Centre for Family Business and Entrepreneurship; and Seema Saroj, Senior Vice Chair, FICCI FLO Mumbai Chapter.
Dean Nagaraj shared global entrepreneurship trends, citing the Global Entrepreneurship Monitor (GEM) Women’s Entrepreneurship Report. “Globally, one in 12 women start or run businesses compared to one in 10 men. In India, just 7% of established entrepreneurial ventures are led by women, far behind nations like Thailand, South Korea, and Saudi Arabia,” he noted. Despite high education levels, especially in tech and engineering, Indian women face limited entrepreneurial opportunities.
Dinesh Joshi reinforced the urgency to address structural barriers that prevent women from realising their entrepreneurial potential. He emphasised the need for data-driven policy frameworks that go beyond mere encouragement and aim to deliver measurable impact.
The opening session also welcomed international perspectives. Acting Consul General Shirani Ariyarathne, representing the Sri Lankan Consulate in Mumbai, highlighted regional collaboration opportunities. She cited Sri Lanka’s allocation of LKR 45 billion towards women’s empowerment and explored the potential for deepening trade ties through the India-Sri Lanka Free Trade Agreement.
Academic insights drive policy recommendations
SPJIMR Prof. Vidhula Venugopal presented research-backed policy recommendations that challenged conventional thinking. Drawing on over a decade of research, she outlined three critical insights for crafting effective policy frameworks.
- Recognise diversity among women entrepreneurs
A one-size-fits-all approach doesn’t work. Age, geography, family background, and sector shape unique entrepreneurial journeys and challenges. - Address gaps in support systems
Fragmented policies across ministries lead to discontinuity. The focus should move beyond training numbers to sustained post-training support. - Move beyond gender-neutral policy design
Gender-neutral isn’t always inclusive. In the context of AI and emerging tech, policies must actively account for gender to avoid becoming gender blind.
Panel discussion addresses real-world challenges
Moderated by Prof. Tulsi Jayakumar, the panel discussion brought together voices from entrepreneurship, policy, and finance. The conversation moved beyond theory into lived experiences and practical insights.
Several panellists shared personal journeys that illustrated systemic challenges. Dr. Savita Chhabra, Founder of Hygienic Research Institute, spoke of entering business after personal loss, while Dr. Shubhada Rao, Founder of QuantEco Research, reflected on the gender biases she encountered during her banking career. “Women are often required to prove themselves more than men,” she noted, particularly outside urban centres.
The panel also discussed technology’s evolving role in entrepreneurship. Dr. Rao suggested that AI could eventually handle 50% of all business needs but cautioned, “AI cannot replace ethics or human intuition,” reinforcing the value of human-centred approaches in entrepreneurship.
Collaborative policy recommendations
The panel yielded specific policy recommendations spanning multiple domains:
| Panellist | Recommendation |
|---|---|
| Pooja Arambhan Tiwari | Stronger childcare support policies |
| Ridhi Kanoria Doongursee | Increased focus on financial literacy and awareness |
| Dr. Savita Chhabra | Access to seed funding, tailored approaches, and childcare support |
| Dr. Dhanashri Hardas | Grants for first-time entrepreneurs and concessions for green businesses |
| Dr. Shubhada Rao | Financial policies designed by women and for women entrepreneurs |
| Seema Saroj | Digital marketing cost support in e-commerce ventures |
| Shalini Dabholkar | Capacity building and awareness, the government as a first buyer |
| Prof. Tulsi Jayakumar | Implementation of gender sensitivity and sex education in Tier 2/3 cities |
Towards sustained collective action
In closing, Deepak Mukhi acknowledged the collaborative efforts required to implement meaningful change. The discussions emphasised that effective policy frameworks must move beyond individual initiatives to enable systemic transformation.
Prof. Jayakumar concluded by emphasising the need for multi-stakeholder collaborations that not only support but actively elevate and sustain women entrepreneurs. “Structural change must be rooted in empathy, inclusion, and shared responsibility,” she affirmed.
SPJIMR’s hosting of the International MSME Day 2025 reflected the institute’s ongoing commitment to addressing critical socioeconomic challenges through academic rigour and practical application. By bringing together diverse stakeholders around the cause of women’s entrepreneurship, the event laid a strong foundation for continued collaboration and informed policy development.
The discussions served as a powerful reminder that while challenges persist, a combination of research-led insights, real-world experience, and collaborative commitment provides a clear path to building more inclusive entrepreneurial ecosystems. As India advances on its economic journey, such forums ensure that progress touches every segment of society.