Bengaluru: At least 200 women entrepreneurs in India are poised to raise an estimated Rs 850 crore ($100 million) from investors, helping to expand businesses and create new jobs, Goldman Sachs announced on Friday.

According to Union Minister for Commerce and Industry Piyush Goyal, the ‘Goldman Sachs 10,000 Women’ initiative highlights the untapped potential in women.

“I am confident that they will continue to break barriers and empower others. They are committed to investing in and supporting the progress of women. Currently, 3,500 women from this initiative have created job opportunities and are driving economic activities,” Minister Goyal said an the company’s event here.

“The programme also demonstrates how these women contribute significantly to the government’s journey of Amrit Kaal as we work towards achieving India’s Viksit Bharat goal by 2047,” the minister added.

The ‘Goldman Sachs 10,000 Women Finance for Growth’ initiative was developed and launched in 2023 in partnership with NSRCEL, the incubation arm of IIM Bangalore.

More than 400 graduates of ‘Goldman Sachs 10,000 Women’ participated in this initiative designed to equip women entrepreneurs with an enhanced understanding of business finance, provide mentoring and networking opportunities, and connecting them with investors.

“Empowering women entrepreneurs with the right skills, meaningful mentorship and strategic networks to access the right kind of capital at the right time is not just transformative for their business – it is a powerful catalyst for sustainable job creation, wealth generation and economic growth,” said Asahi Pompey, global head of Goldman Sachs’ Office of Corporate Engagement.

According to Sonjoy Chatterjee, Chairman and CEO of Goldman Sachs in India, the initiative equips women entrepreneurs with a deeper understanding of how they can access external finance for growth.

“It is a testament to our commitment to support women-led businesses by bridging the credit gap through our network of investors in India,” Chatterjee added.