Manipur CM urges banks to back women entrepreneurs, targets 1 lakh Lakhpati Didis by 2029

Manipur Chief Minister Yumnam Khemchand Singh on October 27 stressed the role of banks in empowering women entrepreneurs as he inaugurated the 18th Saras Aajeevika Mela 2026 at the City Convention Centre in Imphal.

The mela, organised from October 27 to November 6, features more than 100 stalls showcasing products made by women members of Self-Help Groups (SHGs).

Addressing the gathering, Khemchand Singh said Manipur has around 26,000 Lakhpati Didis and aims to increase the number to one lakh by 2029. He emphasised that the target could be achieved only with the active support and cooperation of banks.

Highlighting the state's performance in loan repayment, the Chief Minister said the average loan default rate among SHGs in India stands at around 5 per cent, while Manipur has recorded a significantly lower rate of 2 per cent.

He said the figures reflected the state's comparatively strong repayment record and underlined the importance of financial institutions in supporting women-led businesses.

Recalling the contribution of women to Manipur's history and economy, Khemchand Singh referred to the Nupi Lal movements against British rule and highlighted the continuing role of women in the state's socio-political life.

He also cited Imphal's Ima Market, run exclusively by women, as an example of women's contribution to the state's economy through the sale of essential commodities and other products.

The Chief Minister lauded the staff of the Manipur State Rural Livelihoods Mission (MSRLM) for their work in promoting rural livelihoods and supporting women entrepreneurs.

Deputy Chief Minister Nemcha Kipgen, who joined the programme through video conferencing, described the Sale of Articles of Rural Artisans Society (SARAS) as a flagship market-promotion initiative under the Deendayal Antyodaya Yojana–National Rural Livelihoods Mission (DAY-NRLM).

She said SARAS melas provide SHGs with opportunities to showcase and sell their products, connect with customers and explore wider business opportunities.

Commissioner of Rural Development and Panchayati Raj Sumant Singh said research on women's participation in micro, small and medium enterprises (MSMEs) had placed Manipur first in terms of women-owned businesses.

He said such fairs could increase SHG members' incomes by promoting rural entrepreneurship, strengthening market linkages and encouraging product innovation.

An interactive session was also held with Lakhpati Didis, who shared their experiences and expressed appreciation for the support provided by MSRLM in developing their businesses and sustaining their livelihoods.

The Chief Minister later inspected the stalls showcasing a range of products manufactured by SHG members.

The inaugural programme was attended by the State Mission Director of MSRLM, a NABARD general manager, bankers, SHG members, Lakhpati Didis and MSRLM staff, among others.