This isn't a metaphor; it's the harsh reality for India, where over 100 million talented women - a vast, untapped resource are systematically excluded from the workforce.
This underutilisation isn't just a social injustice; it's a massive economic drag, throttling India's potential for sustained growth.
Beyond the Numbers
The global economy is a fierce competition, and India is playing with one hand tied behind its back. Studies by the World Bank and McKinsey Global Institute paint a stark picture: a 10 per cent increase in female labour force participation could boost India's GDP per capita by 1.5 per cent, while closing the gender gap entirely could add a staggering $770 billion to the economy by 2025.
A Crux study estimates the gender gap substrates three per cent from the GDP.
The study emphasises that the true cost extends beyond these figures. It stifles social progress and weakens the socioeconomic fabric. The Crux study ignites a powerful call to action: empower women. By doing so, we unleash a vast, untapped potential - millions of women ready to contribute their skills, fuel economic growth, and propel India forward.
A Ripple Effect of Empowerment
The Crux study paints a clear picture, reveals a powerful truth: as women enter the workforce, household incomes rise significantly. This newfound financial security is often invested wisely, with a focus on children's education and healthcare, strengthening families, equally fuelling economic growth and social progress. The ripple effect lifts the entire community.
This story is from the July 27, 2024 edition of BW Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 27, 2024 edition of BW Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
