Women are no lesser than men when it comes to leadership, excellence, and entrepreneurship. The past few decades serve as a testament to this undeniable fact. Women have contributed equally in building the foundation for economic growth and prosperity in India through their talent, dedication, enthusiasm, and hard work.
Despite numerous challenges, women have been venturing into the male-dominated market, starting their own businesses, and working tirelessly to prove that they are as adept and successful in the entrepreneurial field as their male counterparts. If we find a way to meaningfully employ and engage such a strong, potential women workforce in India, it will be a huge opportunity for India to improve its economic growth.
According to the periodic labor force survey by the Labor Ministry, participation of the female workforce in India’s labor market has seen steady growth over the years and has subsequently reduced unemployment amongst women.
Apart from being employed, women have also marked their presence in the business field, and have emerged as billionaires in diverse sectors. Some of the richest businesspersons who brought India onto the global maps include Savitri Jindal, Chairperson Emeritus of OP Jindal Group, Roshni Nadar Malhotra of HCL Technologies, Kiran Mazumdar- Shaw, Chairperson of Biocon Limited – all women.
Recently, businesswoman Falguni Nayar entered the list of wealthiest women. Falguni Nayar is the Founder and CEO of Nykaa. She has become India’s wealthiest self-made female billionaire this month. To encourage women, finance minister Nirmala Sitharaman announced that women will be allowed to work in all categories and also in the night shift with adequate protection.
The decision was made to enhance the economy of the nation by involving more women. To facilitate its successful implementation, the government has also increased the allocation for Pro-Women Schemes from Rs. 1,14,893 crores to Rs. 1,28,065 crores; an increase of 11.46 percent.
Women have huge potential to contribute to society, not only as job seekers but also as entrepreneurs. When provided with the right opportunity such as basic education, a safer environment, sanitation in public spaces, and equal pay, more women will be encouraged to step out of the house and work. There is sufficient evidence to suggest that opportunity and access to knowledge and resource can make all the difference.
A survey revealed that women-owned companies lead to more jobs and create substantial revenue and business growth. Nearly half of the country’s population consists of women. If we find a way to meaningfully employ and engage such a strong, potential women workforce in India, it will be a huge opportunity for India to improve its economic growth.