India needs 400 million more women in workforce to contribute USD 14 trillion to economy: Report

The report reveals a stark disparity in job security and recovery between men and women

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India requires an additional 400 million women in the workforce to contribute USD 14 trillion to the economy which would necessitate nearly doubling the current female labour force participation rate (LFPR) from 37 per cent to 70 per cent by fiscal year 2047, according to a new report.

Non-profit The/Nudge Institute has unveiled a new report, Labour Force Participation Distillation Report, outlining a crucial element for India's economic future. The report is based upon Periodic Labour Force Survey (PLFS) over the years. As the country aims to become a USD 30 trillion economy by 2047, the report highlights the need for a substantial increase in female labour force participation to achieve this goal.

According to the report, India requires an additional 400 million women in the workforce to contribute USD 14 trillion to the economy. This would necessitate nearly doubling the current female labour force participation rate (LFPR) from 37 per cent to 70 per cent by fiscal loss. By 2020, nearly half of the year 2047.

With only 110 million women projected to join the labour force by then, an additional 145 million women need to be integrated to meet this target.

The report reveals a stark disparity in job security and recovery between men and women.