Women Will Power India's Dream of a $30 Trillion Economy

India's bold vision to transform the nation into a $30-plus trillion economy with a per capita income exceeding $18,000 by the 2047, will see the nation utilising its demographic dividend, where women emerge as a catalyst.

- Aditya Pittie

The nation's economic growth trajectory relies on its women workforce and therefore their empowerment is both a social need and an economic necessity.

Since the launch of the Udyam Portal on July 1, 2020, MSMEs owned by women have made up for 20.5 per cent of all MSMEs, which accounts for 30 per cent of the GDP. About 46 per cent of the 1.49 lakh startups recognised under the Startup India initiative have at least one female director. As more women enter the workforce, the country is poised for a revolutionary economic shift. Between 2017-18 and 2023-24, India experienced a significant decline in the female unemployment rate as it observed an increase in the Female Labour Force Participation Rate and Work Participation Rate for women, from 23 per cent to 41 per cent.