President Ram Nath Kovind on Thursday regretted that women had not been given their due in business and commerce despite their contribution to economy at work and at home.
Addressing the 34th annual session of FICCI Ladies Organisation (FLO) here he said conditions need to be created for more women to come into the workforce.
"If more women become part of the workforce, both household incomes and the GDP will rise. We will become a more prosperous nation. More than that, we will become a more equal society,'' he said
"Appropriate, encouraging and safe conditions must be created at home, in society and at the work-place to enhance the percentage of working women.''
The magic of entrepreneurship must be used to facilitate start-ups for women at the bottom of the pyramid. The government has a role here, but so do civil society and business and organisations such as FLO, he said.
Referring to bank frauds, he said that while genuine business failures can happen but when there is a wilful and criminal default on a bank loan, then it is families of our fellows Indians that suffer. The innocent citizen loses out, and ultimately the honest tax-payer bears the burden.
He lauded the efforts of MUDRA entrepreneurs in small hamlets and among traditionally underprivileged and deprived communities to make efforts to pay back their loans.
Mr Kovind urged the members of FLO to see how they could make such businesses – largely run by women – integral to their value chains.