India is at a trivial point in its growth story. Its strength of demographic dividend is paying rich benefits. But to make the best of it now, is trivial.
The demographic dividend window for India opened during 2005. 2020 to 2040 seems to be the country’s golden period with the peak expected to occur around 2031. This needs to be harvested effectively. And for that, women’s participation plays a major role. If we miss this bus, by 2050, China which is currently in the downward trend with a lesser population in working group, would have almost the same amount of people working. This means, we have failed to use this advantage to the best.
Lesser women in workforce now
We live in different times. To think that women were once confined to their homes would be unimaginable to today’s generation. Things have changed radically, yet it cannot be credited much as change. A recent World Bank data highlights the same. There has been a drastic drop in women’s participation in workforce over the years. India’s economy has grown almost more than 10 per cent since 1990. Women in workforce, who formed close to 30 per cent then, has now fallen to 19 per cent in 2021. This fall is much steep in the last 15 years and it coincides with the time that the economy grew over 4-times.
While one watches the society through plain eyes, this period seems to be the one where we get to see highly ambitious and career-oriented women. There have been several trailblazers who have razed their own paths. Today, there are much wider opportunities and flexible working styles. In such a situation, this data is quite a concern. It must be addressed effectively and immediately. The reason being, women would need to play a larger role to propel higher economic growth. If this trend of lesser participation by women with a growing economy continues, India will lose its demographic dividend advantage.
IE discusses the same with women achievers from different sectors to understand their experiences and also on what must be done by policy makers, organisations and the society to bring in more women to the workforce.
