The power of
parity: Advancing women’s equality in India
India has a larger relative economic value at stake
from advancing gender equality than any of the ten regions analyzed in a recent
McKinsey Global Institute report
The power of parity: How advancing
women’s equality can add $12 trillion to global growth.
If all countries were to match the momentum toward gender
parity of the fastest-improving countries in their region, $12 trillion a year
could be added to global GDP. What’s more, India could add $700 billion of
additional GDP in 2025, upping the country’s annual GDP growth by 1.4
percentage points.
Our new report, The power of parity: Advancing women’s
equality in India, reveals that about 70 percent of this “best in region”
potential would come from raising women’s participation in India’s labor force
by ten percentage points between now and 2025, bringing 68 million more women
into the labor force—70 percent of them in just nine states. 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 (SEE THE ORIGINAL ARTICLE).
Our analysis shows that scores vary widely, and India’s challenge
is that the five states with the lowest gender inequality account for just 4
percent of the female working-age population; the five states with the highest
inequality account for 32 percent.
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.
By Jonathan Woetzel, Anu Madgavkar, Rajat
Gupta, James Manyika, Kweilin Ellingrud, Shishir Gupta, Mekala Krishnan
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REPORT GO TO
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