Today: 11 May 2025
5 March 2024
1 min read

‘Female Workforce Key to India’s $7 Tn Dream’

Lack of education, marriage and family planning, pay gap, and societal barriers are some major reasons for low women participation. …reports Asian Lite News

India’s goal to become a $7 trillion economy is only possible when participation of women in the workforce increases by 50 per cent, according to an expert on Monday.

While millions of Indian women are working in the country, the majority are employed in unorganised sectors as daily wage labourers and women’s participation in the organised sector is below 30 per cent.

Sachin Alug, CEO, NLB Services, a global technology and digital talent solutions provider, said that removing gender disparity and including women in industries, from farming to tech, creating value, and wealth, can help in increasing the GDP of the country.

Lack of education, marriage and family planning, pay gap, and societal barriers are some major reasons for low women participation. Moreover, certain sectors, particularly male-dominated ones such as manufacturing, construction, transport, and IT/BPO pose obstacles for women entrepreneurs and employees.

“Empowering women isn’t merely a moral obligation; it’s an economic imperative for India’s prosperity. Industry reports indicate that India can achieve a GDP growth rate of 8 per cent provided women account for nearly half of the new workforce set to be created by 2030. Closing the gender disparity in the workforce necessitates collaborative endeavours from individuals, industry, academia, and government,” said Alug, in a statement.

“Employing a gender-inclusive strategy in innovation, technology, and digital education can enhance women’s awareness and engagement. Organisations should promote inclusive work culture and implement policies that give equal opportunities at the workplace while removing the wage gap,” he added.

However, companies are addressing this gap through initiatives like promoting diversity, ensuring workplace safety, and offering flexibility.

Alug emphasised the need to “provide women with opportunities for upskilling and re-skilling, particularly in critical sectors like manufacturing, EV, and technical roles such as data science and artificial intelligence”.

“Increasing women’s participation in traditionally male-dominated sectors is essential for bridging the gender gap and driving India’s goal to become a $7 trillion economy by the end of this decade,” he said.

ALSO READ: UAE Extends Additional Cut of 163K BPD

Previous Story

UK pledges £1.5 mn to support Ukrainian women

Next Story

Tata Motors to Divide Business

Latest from Business

Six OMCs Pump ₹290 Cr into Startups

The Union Minister said the country continues to stand as the world’s third-largest startup ecosystem….reports Asian Lite News Six oil marketing companies (OMC) in India have invested Rs 290 crore from their

India Dominates Global Digital Banking List

Indian banks have observed the most notable gains in day-to-day banking (+9.8 pp) and expanding relationships (+3.4 pp)….reports Asian Lite News As many as 9 Indian banks have been recognised as ‘Digital
Go toTop

Don't Miss

UAE investing a lot in India, says Yusuff Ali

“Today, the common focus of both UAE and India is

India 3rd in list of ‘most billionaires’

The Us still boasts the most billionaires, with 735 list