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23 November 2015

Equality for 68m women in workforce by 2025 can add USD 700 to GDP: Report

Quodsi everti ancillae vim qui lorem persius petentium Equality for 68m women in workforce by 2025 can add USD 700 to GDP: Report

New Delhi, Nov 23 (ENA)  India has a larger relative economic value at stake from advancing gender equality than any of the ten regions analyzed in a recent report.  What’s more, India could add USD 700 billion of additional GDP in 2025, upping the country’s annual GDP growth by 1.4 percentage points, a report said.

Further, if all countries were to match the momentum toward gender parity of the fastest-improving countries in their region, USD 12 trillion a year could be added to global GDP.

McKinsey Global Institute (MGI) report, “The power of parity: Advancing women’s equality in India, released this month, reveals that about 70 per cent of this “best in region” potential would come from raising women’s participation in India’s labour force by ten percentage points between now and 2025, bringing 68 million more women into the labour force—70 per cent of them in just nine states,” an official release said.

This will require bridging both economic and social gender gaps.  To determine this, we have created a measure of gender equality for Indian states: the India Female Empowerment Index, or Femdex, it said. 

MGI analysis shows that scores vary widely, and India’s challenge is that the five states with the lowest gender inequality account for just 4 per cent of the female working-age population; the five states with the highest inequality account for 32 per cent.

Eight priority actions can help accelerate progress, including education and skill-building, job creation in key sectors, corporate policies to promote diversity, and programs to address deep-rooted mind-sets about the role of women in work.

MGI has mapped 15 gender equality indicators for 95 countries and finds that 40 of them have high or extremely high levels of gender inequality on at least half of the indicators. The indicators fall into four categories: equality in work, essential services and enablers of economic opportunity, legal protection and political voice, and physical security and autonomy.  (ENA Bureau)

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