India needs more women in paid work to sustain growth: Axis Bank study
A new study by Axis Bank has said that increasing women’s participation in paid work will be crucial for India to sustain long term economic growth and achieve its “Viksit Bharat” goal by 2050.
The report, titled The Missing Half: Women and India’s Growth Challenge, draws on global evidence, Indian data analysis and a survey of nearly 11,000 college educated women across 42 cities.
According to the study, to maintain an average growth rate of around 7 per cent over the next 25 years, India’s overall workforce participation must rise from about 47 per cent to nearly 60 per cent. Greater participation by women will be central to achieving this target.
The report notes that India currently has one of the lowest female labour force participation rates among G20 economies. Around 125 million educated women remain outside the workforce, with nearly 60 per cent of female graduates opting not to take up paid work.
It also highlights structural barriers such as safety concerns, limited mobility, childcare responsibilities and inflexible job structures. About 61 per cent of women surveyed cited safety and mobility as the biggest barriers to entering the workforce.
The study calls for expanding non farm job opportunities closer to homes, investing in childcare support, improving urban mobility and creating flexible work options to enable more women to enter and remain in the workforce.
Neelkanth Mishra, Chief Economist at Axis Bank and Head of Global Research at Axis Capital, said increasing women’s participation in the workforce is essential for sustaining India’s growth momentum.
The report concludes that boosting women’s employment is not only a social priority but also a key economic lever for India’s long term development.
