从借款人到建设者：女性在印度金融增长故事中的作用

B.V.R. SUBRAHMANYAM Chief Executive Officer, NITI Aayog SPECIAL MESSAGE Accelerating women’s access to finance is not just an economicnecessity but a strategic imperative for inclusive growth. Womenentrepreneurs are a vital yet underutilized force in the economy,with the potential to create 150 to 170 million jobs and boost femalelabourforce participation.Yet,they face significant barriers, An MSC study found that 30% of Individual Enterprises (IEs) and22.2% of Collective Enterprises (CEs) lacked credit readiness foreven small loans. Beyond these structural hurdles, many womenself-excludefrom financial opportunities due to poor user The Women Entrepreneurship Platform (WEP) is a key initiativeaddressingthese gaps,offering access to finance,markets,mentorship,and networks within a government-supportedframework. Thelaunch of the Financing Women Collaborative This report provides critical insights into women as a distinctcustomer segment,aiming to inspire the creation of targetedfinancial solutions. The efforts of WEP, TU CIBIL, and MSC mark asignificantstep forward,but sustained collaboration among ANNA ROY Principal Economic Advisor, NITI Aayog and Mission Director, WEP MESSAGE FROM TRANSUNION CIBIL India’seconomic growth story is being redefined by theresilience, innovation, and determination of its women. As westand at the quarter-mark of the 21st century, it is clear thatempowering women to fully participate in the economy is not At TransUnion CIBIL, we have always believed in the power ofdataand insights to drive meaningful change,and thatempowerment begins with knowledge. Over the past 25 years,we have worked to democratise access to credit, enablingindividuals and businesses to achieve their aspirations. This Yet,systemic barriers persist—limited access to finance,gender biases, and inadequate mentorship. Addressing thesechallengescalls for collective effort from policymakers,financial institutions, and society at large. As we look to the To further this vision, wehave partnered with the WomenEntrepreneurship Platform (WEP) to launch a credit educationprogram aimed at empowering women entrepreneurs acrossIndia.This initiative provides essential financial literacyresourcesand business skills,equipping women with the At TransUnion CIBIL, we remain committed to supporting thisjourney,enabling women to transform aspirations intoachievements. BHAVESH JAINMD & CEO, TransUnion CIBIL As we navigate the 21st century, India's economic landscape istransforming, with women emerging as key drivers of financial This report, “From Borrowers to Builders – Women’s Role in India’sFinancialGrowth Story”,presents a data-driven analysis ofwomen’s evolving role in the economy. The findings are striking,women seeking credit have grown at a CAGR of 22% since 2019,with 60% of borrowers from semi-urban and rural areas. Thisunderscores a deepening financial footprint beyond metro cities.Additionally, a 42% rise in women self-monitoring their creditreflects growing financial awareness. More women are entering At MicroSave Consulting (MSC), we have spent over two decadesshapingfinancialecosystemsthatempowerwomenasentrepreneurs, job creators, and economic leaders. Our work withfinancial institutions, policymakers, and development partnershas shown that true inclusion goes beyond access; it requiresfinancial products and support systems designed with women’s Thisreport offers actionable insights to create an enablingenvironment where women entrepreneurs thrive. By addressingkey challenges and seizing emerging opportunities, we can shape Managing Director, MicroSave Consulting This report examines the evolving role of women in India’s economic growth, focusing on their untappedpotential and the systemic barriers they face. Women constitute nearly half of India’s population but Key Findings Women are reshaping the economy, from farms to boardrooms and from small-scale industries to techstartups, increasingly stepping into roles as creators, innovators, and decision-makers across diverse Steady Rise in Women BorrowersWomen seeking credit grew ~3X between 2019 and 2024, reflecting increased demand among female borrowers. Women Borrower DemographicsAbout 60% of women borrowers availing credit are from semi-urban or rural areas. Women under 30 years of age, account for only 27% of retail credit uptake by women, compared to 40% for men. Credit Supply TrendsWomen’s participation in credit origination has seen notable growth in recent years. Since 2019, their share in Business Loans and Gold Loans has increased by 14% and 6% respectively. By 2024, 42% of loans availedby women were for personal finance, a slight increase from 39% in 2019.�While the credit supply to women Rise in Credit Monitoring and AwarenessAs of December 2024, 27 million women borrowers in India have monitored their credit information report and score with CIBIL. While this is an encouraging trend, this must continue for women to progress fro