Goldman Sachs’ initiative to empower 200 women entrepreneurs in India

Goldman Sachs has announced that at least 200 women entrepreneurs in India are set to raise approximately Rs 850 crore ($100 million) from investors to fuel the expansion of their businesses and generate new job opportunities. This development is part of the company’s ‘Goldman Sachs 10,000 Women’ initiative, which aims to empower women entrepreneurs across the country.

Union Minister for Commerce and Industry, Piyush Goyal, highlighted the importance of the initiative, noting the vast untapped potential among women entrepreneurs. “I am confident that they will continue to break barriers and empower others,” Goyal said during the event. He further mentioned that 3,500 women from the initiative had already created jobs and contributed to economic growth, underlining the significant role women play in India’s development journey towards becoming a ‘Viksit Bharat’ by 2047.

The ‘Goldman Sachs 10,000 Women Finance for Growth’ initiative, launched in 2023 in partnership with NSRCEL, the incubation arm of IIM Bangalore, aims to provide women entrepreneurs with a comprehensive understanding of business finance, along with access to mentorship, networking opportunities, and connections with potential investors.

Asahi Pompey, Global Head of Goldman Sachs’ Office of Corporate Engagement, emphasized the transformative power of equipping women with the right skills, mentorship, and capital. This initiative not only accelerates their business growth but also drives sustainable job creation and economic prosperity.

Goldman Sachs’ initiative is a vital step in bridging the credit gap for women-led businesses and strengthening India’s economy through entrepreneurship.