India could boost its GDP by $770 billion by just treating women better
India, the world’s fastest-growing major economy, could do a lot better if only it treated its women better. The country could add up to $770 billion—more than 18%—to its GDP by 2025, simply by giving equal opportunities to women
Indian women don’t enjoy the same rights and privileges as men. Strong preference for the male child has blighted the country’s gender ratio and squeezed resources available for the girl child. As pointed out by the government’s latest economic survey, there are 21 million “unwanted women” in the country today.
This is manifested in the country’s performance on four key parameters: equal work opportunities, access to services, physical safety, and legal and political representation. India ranks among the lowest in a list of 18 from the Asia-Pacific (APAC) region on these four criteria. India has a considerable way to travel to match the best performance in the region on female-to-male labor-force participation rate, maternal mortality, financial and digital inclusion, sex ratio at birth, and violence against women.
The women’s contribution to the country’s GDP currently stands at just 18%, one of the world’s lowest. With only 25% of India’s labor force being female, India’s economy also has the second-largest potential in the Asia-Pacific (APAC) region simply by improving gender parity. Higher participation of women in the workforce, raising the number of hours spent by them on the job, and including them in higher-productivity sectors can help spur a huge boost in economic growth.
See the complete article written by Suneera Tandon here