If India is to successfully double the size of its economy by 2030, the only viable path is raising the number of women in the workforce.
"We have a very low percentage of women participating in the labor force," said Nirmala Sitharaman, India's Finance Minister. "It's imperative that we take immediate steps to change this if we are to achieve our economic goals."
India's current female labor force participation rate stands at around 21%, significantly lower than many other countries. Experts argue that increasing this rate could substantially boost India's GDP.
"Countries with higher rates of women's participation in the workforce see a more balanced and sustainable economic growth," noted Raghuram Rajan, former Governor of the Reserve Bank of India.
Several initiatives have been proposed to address this issue, including policies aimed at improving education for girls, providing better childcare facilities, and implementing more flexible work arrangements.
"Empowering women through education and skills training is crucial," stated Smriti Irani, India's Minister for Women and Child Development. "We must ensure that women are not just included but are active participants in our economy."
The government has also been urged to create safer work environments and enforce laws against gender discrimination more rigorously.
"The safety of women at workplaces cannot be compromised," emphasized Arundhati Bhattacharya, former Chairperson of State Bank of India. "Companies need to adopt zero-tolerance policies towards harassment and discrimination."
Increasing women's participation in the workforce is seen as not only an economic necessity but also a step towards achieving gender equality.