Topics In Demand
Notification
New

No notification found.

Women participation in labour force the key driving force behind “Viksit Bharat”
Women participation in labour force the key driving force behind “Viksit Bharat”

30

0

 

As we all celebrate the women’s day today, there is something that needs to be highlighted from our recent report “India @2047: Transforming India into a Tech-Driven Economy” which highlighted – for India to become a developed economy by 2047 with a projected GDP of about $23-$35 trillion it requires sustained annual growth of 8%–10%, which in turn is dependent upon:

1) Sectoral transformations

2)Technological advancements

3) Workforce readiness

And when we look deeper into the workforce side, creating high value jobs and increasing female labour participation is an essential ask.

Women Share in Labour Force – Where we are and where we want to go.

Now before we see the requirements on what the target share is for women in labour force, let’s look at where we are – India’s position on women participation is not that great when we compare with global average, as well as some of the fast-growing Asian economies (See Chart below).

Source: World Bank; ILO Modelled Estimates and Projections database (ILOEST)

So, India currently has a 29% share of women in labour force, now let us talk about what is needed to meet the “Viksit Bharat” target by 2047. Any guesses?

 

Source: Bain & Company and Nasscom’s “India @2047: Transforming India into a Tech-Driven Economy

Its 40-50% (even more if possible 😊) - Can we meet this, the answer is yes, and we are working towards it.

The Power of Indian Women

Before we get into what more needs to be done, I would like to highlight the prowess that we have displayed already:

  1. India leads in women in STEM - All India Survey on Higher Education by the Ministry of Education highlighted the share of women STEM graduates rose from 38.4% in 2014-15 to 42.6% in 2021-22, putting India at the top with the highest number of women STEM graduates in the world.
  2. Indian Start-up ecosystem ranks second in terms of all-time funding raised by companies with women founders – with a total of $26 billion in funding till date, second only to the USA 
  3. Indian Women lead in adopting innovative technologies - Adoption of GenAI across Indian professionals is high with 80% mid and junior level women are already using Gen AI, with Indian women workforce leading their global counterparts on Gen AI adoption.

Source: Nasscom BCG – “GenAI - The Diversity Game Changer We Can’t Ignore”

And most importantly women also rate their professional ambitions as very high demonstrating a strong drive for success.

Source: Nasscom BCG – “GenAI - The Diversity Game Changer We Can’t Ignore”

To take on the World she needs more acceptance and compassion.

Though we are moving in the right direction, there is a huge gap that needs to be bridged. And it is not only about what organisations needs to do to empower women by fostering an inclusive environment, giving the right support and opportunities, gender pay parity as to me closing this gap is far beyond empowering women in offices and board rooms. The organisations are doing their bit and policies are being put in place. For the ones who are still thinking and not doing, sharing some best practices below:

 

      Source: Bain analysis

It is more about creating an eco-system where every woman is heard, supported, and valued. It is about dismantling barriers at every step of progress from schools to colleges to marriages and taking care of families. It is about fostering true inclusion whether you are working in an office or from home, you get a salary or you are that “unpaid” expert at home driving the wheel. It is about addressing those systemic issues that challenge the everyday lives of women, and it is also about promoting and supporting women across the organised and unorganised work spheres. And for this the support system starts at home, and progresses to schools and colleges, at workplaces. Behind every successful woman there is a supportive family/parents/partners/husbands/teachers/mentors/Leaders who have played a crucial role in her progress. It is about giving her that confidence that she can dream big and achieve it. And to give her that confidence there is a need to inculcate this supportive mindset in our society, and this starts at home. So, think about it!

It is not an individual problem, a much bigger change is needed, we can introduce policy changes, token women’s day celebration but the real change must be in attitude and mindset. So, it is not about celebrating one day or one week but acceptance and compassion every day that the women need to make it happen.


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


images
Neha Jain
Senior Analyst

Neha Jain

© Copyright nasscom. All Rights Reserved.