Women at Work

By unlocking the hidden potential of millions of women, India can accelerate its journey to becoming a global economic powerhouse by 2047

- SUMITA DAWRA

INDIA IS CURRENTLY the fastest-growing major economy, and has a vision of becoming 'Viksit Bharat' (Developed India) by 2047. To achieve this ambitious goal, it is imperative to tap into the full potential of the female workforce. Wom- en's participation in economic activity is not just a matter of social equity, but an economic necessity. If harnessed effectively, it could add trillions to India's GDP, drive innovation, and create a more resilient and sustainable economy. A recent World Bank study states that "gender gaps in labour force participation persist worldwide. Closing this gap can lead to sizeable gains for economies—a 20% increase in GDP per capita, on average".

Encouragingly, data over the past six years shows a positive trend in female workforce participation in the country. Indicators such as increased engagement in economic activity, a declining unemployment rate, a rising number of educated women joining the workforce, and steadily increasing earnings across employment categories paint an optimistic picture. However, despite these improvements, much remains to be done, particularly since the Union Budget 2025-26 has set an ambitious target—70% female workforce participation by 2047.

A Significant Shift

The PLFS 2023-24 reports a substantial rise in female workforce participation. The Worker Population Ratio (WPR) for women aged 15 years and above increased to 40.3% in 2023-24 from 22% in 2017-18. Similarly, the Labour Force Participation Rate (LFPR) for women in this age group rose from 23.3% in 2017-18 to 41.7% in 2023-24, while female unemployment dropped from 5.6% to just 3.2%. These figures challenge outdated claims of stagnation in female employment and indicate a remarkable transformation.