Q1. Can you share your experience as a woman entrepreneur in the consulting business? 

I have worked in a Chartered Accountant capacity at various senior positions in the Big 4 and local consulting firms for about 22+ years before I started my own ventures which are now 6 years old. In these firms, I was finding it difficult to serve the clients holistically as the firms give very limited areas to consult-on in order to keep a divisional services structure. This not only hampers services but also providing quality services by a single firm. 

Further, there has been lot happening in India in manufacturing, skill development, mobility, etc, and I wanted to be a part of these New India initiatives in some way. In the Big 4 firms, it was not possible for me to handle consulting / advisory in these areas and various other prominent sectors in India. So I decided to start own consulting firms for providing specialized services catering to their respective industry sectors apart from services in areas of regulations, taxation, accounting, finance etc. I decided to not just read through these industries but also to understand their pain and best areas. Further, it gives me an opportunity to interact with Senior Management level and understand their business challenges and issues they face every day to grow in the new India initiatives. 

As a woman entrepreneur in the consulting areas, I believe there is a stability in career path for me and my team members with huge scope of work portfolio. I have got good feedback from my clients from time to time on work performance and quality services. Further, authorities recognize women in the consulting business and give equal opportunity to interact and respond. 

Q2. In terms of trade and investments, what do you consider the key advantages and disadvantages of operating in BRICS nations, especially as a woman entrepreneur? 

BRICS Nations have emerging markets with a high potential for growth and development. As a consultant there is a huge opportunity to handle finance, tax and regulatory matters of the industry including inbound investments in India. 

India being one of the top developing Nation in the world that has opened up industries from all over the world to start their businesses in India. In GST regime and liberalized FDI policy, Indian industries have got multifold opportunities to work with foreign enterprises and government policies for the industry sectors. As a consultant, I get to work not just with Indian companies but also with various embassies and chambers of commerce to help the foreign enterprises to do business in India with providing consultancy and compliance services in complete regulatory and legal framework. On the other hand, as a emerging or developing market, there are few areas in our consulting business where we find challenges like delays in approval process, bureaucratic environment, developing systems of accounting and reporting, delays in tendering procedure, developing infrastructure, etc. 

Q3. What unique perspectives or advantages do you believe women entrepreneurs bring to the accounting and finance industry in the BRICS nations?

 Women entrepreneurs are marked as the changing face of the global economy with their role in job creation and contribution in economic growth. There is a stable career for women in profession and industries like Chartered accountancy, Company secretary, cost accountancy, legal, developing software, manufacturing garments, food industry, etc. where women get equal opportunity to get regular earnings and job security. With new small and medium enterprises coming into force, new perspectives are required in accounting, finance and regulatory areas. With new force of women employees, women entrepreneur, the need of new perspective seems to have been met. Women on the board of directors have been giving different perspective or manner of handling particular issues being faced in accounting and finance area of the companies. The job security in this field has given courage to women to continue in their jobs even after handling home affairs. This helped me to build up team with man and women as equal force and continuity for handling work for the client companies. Women tend to be more risk-averse than men, which sometimes lead to more prudent decision-making and a focus on long-term sustainability. I believe, as a result, women-led companies tend to have lower debt, higher profits, and better shareholder returns. In the accounting and finance industry, the women have grown in India with continuity in employment for a longer term and a stability. 

Q4. Aerospace is known for being a highly specialized and technical field. Can you share insights into the opportunities it offers for women entrepreneurs looking to break into the industry in the BRICS nations? 

 Women in different fields have been growing including aerospace industry. They have got opportunity to go beyond their traditional areas and meet their aspiration in this industry. The women are now working in aerospace industry in flight pilot to the ground areas of handling, logistics, finance, accounting, legal, etc. The manufacturing and services in aerospace industry is picking up in India and in other BRICS nations, where equal opportunity is being offered to men and women. With the stability and new ventures coming up, women employees and entrepreneurs are finding it interesting to handle areas like finance, accounts, regulatory matters. 

Q5. Diversity and inclusion are important in any industry. What steps can the aerospace sector take to encourage and support a more diverse group of entrepreneurs and professionals in the BRICS nations? 

The companies that have diverse, equitable and inclusive (DEI) approach are able to perform inspite of business challenges, attract good talented people and meeting the satisfaction of the clients. Fostering diversity creates a better work environment for everyone; the best science and engineering happens in an environment where all voices are heard and respected. By prioritizing these efforts and DEI, the diverse teams can create novel solutions for addressing the hardest problems in aerospace. Innovation arises when you get different people, with different perspectives and different backgrounds, coming together. Aerospace industries should follow DEI approach and recruit women and women entrepreneur even in developing nation like India. 

Q6. What advice do you have for other women who are considering entrepreneurship as a career path? Are there specific resources or strategies you recommend for aspiring women entrepreneurs in the BRICS nations?

Before starting any venture as an entrepreneur, it is essential to know your strengths and weaknesses and the plan should be made accordingly and thoroughly before starting any venture- economically and technically. It is always good to discuss your interest areas with your seniors and family members as they would also know your strengths and weaknesses and could guide you better. The venture or business that you choose should be of your interest and have a competitive advantage and should be pursued with full focus, dedication, and perseverance. One must consider senior professionals, and mentors on the new company board who would be an added advantage to your ventures and get the best guidance always. 

Q7. Can you discuss the importance of mentorship and networking for women entrepreneurs in the traditionally male-dominated accounting and finance industry in the BRICS nations? How can these connections influence their career? 

Networking and mentorship are key modes in development of women entrepreneurs in India. There are many women entrepreneurs group and vertical being set up in chambers of commerce, forums, government departments and industries, where work is done in the interests of taking women to the next level and support each other in developing their team, family and nation at large. Similarly, in areas like finance, accounts, legal, changing from traditionally male dominating to competition with female employees is helping industry in growth and stable manpower. 

Q8. The government passed the Budget 2023 a few months ago. What were your initial impressions of the budget, particularly the impact it may have on the accounting and finance industry in the BRICS nations? 

More opportunities and challenges are forthcoming for the industry in coming years and also so be with the professionals. More manpower is required to handle the requirements emerging from changes happening in the regulations and procedures. The impact on accounting and finance is imminent where lot of professionals are required with integrity and loyalty. Reliance is also placed by the government on accounting and finance professionals. Industries like banking, insurance, are in focus areas, where compliance based approach is needed which give more opportunity to the professionals in this field.