Chandigarh, May 27, 2024: FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, has furthered its commitment to gender diversity and economic empowerment through the ‘Saksham’ initiative. In collaboration with United Way Mumbai (UWM), FedEx distributed Saksham kits to over 110 women entrepreneurs from lower-income groups to help them scale their businesses.
Since its launch in 2021, thousands of women small business owners have benefited from these kits. 62% of entrepreneurs supported from 2021 to 2023 have reported a substantial increase in their income, highlighting the transformative impact of this initiative on their livelihoods.
Saksham adopts a holistic approach by equipping skilled women small business owners, who are constrained by resource limitations, with tool kits. These kits, tailored to the needs of businesses across various sectors such as home-based beauty services, tailoring, homemade products, pedal rickshaws, and more, contain tools to improve product quality, enhance production efficiency, and grow their customer reach.
Suvendu Choudhury, Vice President of Operations, India and Customer Experience, MEISA at FedEx, emphasized the initiative’s broader implications, “We at FedEx firmly believe in the transformative power of investing in women’s empowerment. Focusing on dismantling the barriers to women’s economic participation, and having supported over a thousand beneficiaries to date, allows us to contribute to inclusion and drive significant progress toward equitable growth. Embracing diversity and inclusivity is crucial, not only as a moral imperative but also as a foundational element for the development of any country.”
World Bank research estimates that closing gender employment gaps could increase GDP per capita by nearly 20%[1], highlighting the importance of initiatives like Saksham that benefits communities at large.
George Aikara, Chief Executive Officer, UWM said, “When women succeed, communities flourish. Though, in most instances, many women may possess the skill, the lack of financial resources and capital prohibits them from starting their own ventures. The Saksham toolkits have a potential to make a tangible difference by equipping women entrepreneurs with essential capital to thrive in their businesses and contribute to economic empowerment. Together with FedEx, we can accelerate progress towards gender equality and economic empowerment for women across India.”
FedEx, founded on a people-first philosophy, understands the critical importance of fostering a culture of Diversity, Equity, and Inclusion in today’s global landscape. It’s a strategic imperative for businesses of all sizes to retain top talent, enhance reputation, attract a diverse customer base, and, fundamentally, contribute to making the world a better place for everyone to live and work.
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