More women in labor-force can boost India-GDP: McKinsey World Institute
India has one of the largest opportunities worldwide to boost GDP by increasing women's participation in the labor force, which presently stands at "only 25% ", a report by McKinsey World Institute said. The contribution of women to India's GDP is 18%, one of the lowest proportions globally, said the report, "The Power of Parity: Advancing Women's Equality in Asia Pacific", released in Kolkata.
Over 70% GDP could come from women's participation in labor-force
"More than 70% of the potential GDP opportunity comes from increasing women's participation in the labor force by 10 percentage points," the report said. The report said India is "somewhat" ahead of close neighbors Bangladesh and Pakistan on the path to gender parity, but lags behind the Asia Pacific average on gender equality in both work and society.
India is progressing faster than other Asia Pacific countries
"However, India has already progressed faster than any other Asia Pacific country over the past 10 years, largely due to advances in education and a reduction in maternal mortality (although from a lower base than many other countries in the region)," the report noted.
Women face vastly unequal-treatment in Asia Pacific region: McKinsey partner
The report said India has a "considerable way" to travel to match the best performances in the region on the female-to-male labor-force participation rate, maternal mortality, financial and digital inclusion, sex ratio at birth, and violence against women. McKinsey partner, Namrata Dubashi said, "McKinsey's research says that Asia Pacific is arguably the most dynamic region in the world but women face vastly unequal treatment."
