Investing in India’s women can unlock the country’s economic potential paid Deloitte
I say that because nearly half of the country’s working-age population is being left behind. According to the World Bank’s May 2017, India has among the lowest female labor force participation rates in the world, well below what would be expected for its level of income and what is observed in neighbors such as Bangladesh, Sri Lanka and Nepal.
Despite college graduation rates of around 42 percent, the percentage of women in the workforce has been dropping since 2005. What’s more, India is home to the highest number of illiterate women in the world. There are more than 3 million eligible, yet out-of-school girls throughout India. And almost 40 percent of girls aged 15 to 18 years drop out of school and college.
The World Bank suggests India’s GDP growth could surge more than a point if India closed just half of the labor force participation rate gap it has with Nepal. It makes one wonder how powerful India could be if its women’s workforce participation was on par with its men’s. The impact would be unquestionably huge.
For India to compete effectively on the global stage and realize her full potential, businesses need to help and invest in high-impact solutions now—solutions that enable girls and young women to access quality education and develop the skills needed to succeed. Deloitte recently committed to do just that. Through financial support, pro bono work and engaging with NGO partners, we intend to help drive transformational change and positively impact 10 million women and girls by 2030. This investment is aligned with
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