EQUAL BY DESIGN

Equality must be intentional, not incidental. It must embrace gender, economic and social inclusion. For this, it is imperative for corporates, policymakers and media to accelerate efforts and create truly equitable opportunities for all

- By Noor Fathima Warsia

The equality conversation is not new. Its significance and benefits have been widely discussed, and much progress has been made in recent years. However, numbers indicate that in India, there is still a long way to go, as progress falls short of projections. According to a Bain & Company and Magic Bus India Foundation report, women will contribute nearly 45 per cent ($14 trillion) to India’s GDP by 2047. For this to happen, India would need approximately 400 million women in its workforce by then, doubling the current numbers. At present, women contribute only 18 per cent to India’s GDP, nearly half the global average, which is at 37 per cent.

This lag highlights the clear and present need to revisit policies, shift mindsets, and strengthen workplace cultures for equitable participation in economic progress. It also shows that even though much is being done, much more must be done.

We must also understand that gender parity is just one aspect of the larger narrative. True inclusivity requires addressing economic, social and professional barriers faced by marginalised communities, including LGBTQ+ individuals, people with disabilities, and those from underprivileged backgrounds. More layers come into play when one considers cultural or generational equality, each of which is important.

The Role of Businesses in Driving Equality

Many companies recognise that diversity is a business advantage. They understand the need to go beyond gender. A standout example is the Pride Fund by Godrej and like-minded leaders, which actively supports LGBTQ+ entrepreneurs. This initiative highlights the power of corporate commitment in pushing for economic inclusion beyond traditional frameworks. By investing in underrepresented entrepreneurs, businesses not only enable financial independence but also challenge societal stereotypes.