Empowering India's Economy: The Rise of Women in the Workforce

India is witnessing a remarkable transformation in its workforce with women spearheading economic advancements. By 2047, the nation aims for a 70% female workforce participation as key to Viksit Bharat. Leading businesswomen emphasize inclusivity, mentorship, and gender equity as pivotal to unlocking growth and achieving transformative change nationwide.

India's workforce is experiencing a transformation, with women actively contributing to economic progress across various fields. As the country stands poised for a significant economic shift, the focus on inclusivity and opportunities for women is pivotal in shaping the future.

At a Confederation of Indian Industry (CII) event, Sumita Dawra, Secretary of the Ministry of Labour and Employment, discussed India's target of reaching 70% female workforce participation by 2047. She highlighted an increase in women's labor force participation, a key milestone for the vision of Viksit Bharat. Recent data from the Ministry of Labour and Employment reveals notable strides: female work participation rose from 22% in 2017-18 to 40.3% in 2023-24; the unemployment rate dropped from 5.6% to 3.2%; and overall labor force participation increased from 23.3% to 41.7% during the same period.

Leading women entrepreneurs emphasize the need for genuine inclusivity beyond mere diversity quotas. Smiti Bhatt Deorah of Advantageclub.ai believes inclusivity means supporting women's career growth through mentorship, flexible policies, and fostering leadership potential. Ambalika Gupta of Snowkapsaid and Kashika Malhotra of Brandman Retail highlight the necessity of equal opportunities to harness the untapped potential of women in leadership roles.

Despite advancements, challenges persist. Dr. Neha Arora of Arbro Pharmaceuticals underscores ongoing gender bias, inhibiting women from fully realizing their capacity, which can stymie organizational growth. These leaders advocate for a future where empowered women drive both economic and societal progress in India.

(With inputs from agencies.)