Why Indian dream of third largest economy must include women in it

Latest data from Pension Fund Regulatory and Development Authority shows just 22 per cent of corporate National Pension Schemes subscribers are women. NPS is an important financial tool that provides post-retirement security and also tax benefits, but does not seem to be very much gender inclusive, as data have suggested overtime. While, if one looks upon the data of Atal Pension Yojna, primarily targeting the unorganised sector, gender balance appears to be more even there, the distribution between women to men in APY is 46:54. This reminds us of a 2018 report by International Labour Organisation (ILO) which stated that about 82 per cent of working women in India are concentrated in the informal sector, mostly indulged in home-based works, construction, street vending and so on. Also, the e-shram portal, the first national database of unorganised workers in the country, showed more women registering into it than men, as of January 2023. Added to this, we cannot deny the biological necessities women have, from bearing a child to uneven responsibilities of maternity, women require their fair share of security which is necessary for them to bear the responsibility of the sustenance of the human race. Added to this, the issue of vulnerability to sexual harassment, particularly in even less secured and non-inclusive surroundings, remains a concern. Maternity benefit act, 1961, does make provisions for paid maternity leave, with nursing breaks and creche facilities but they apply only to the ’establishments’ with more than ten employees. Further, a creche facility is required to be made with the ’establishments’ with more than 50 employees. And, hence leaves the vast informal sector uncovered. While in case of Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013, the act mandates the formation of local committees by district administration to attend the reports of sexual harassment from the informal sector, and the committee does have the power similar to the civil court, so much so, that it can investigate complaints, facilitate settlement, and also order compensation for the aggrieved women. But implementation has always been an issue in India, especially in the informal sector, which happens to be an ocean least explored. India, today, is the fifth largest economy and the fastest growing major economy of the world, aspiring to become the third largest economy by FY 2028. But, we must then look at the 2019 feature of World Bank, Working for Women in India, which states, “India has amongst the lowest female labour force participation rates in the world.” Even as several researches establish that it means that as general affluence increases women are expected to play their patriarchal/traditional role of caregiving and homemaking, or women’s engagement in higher studies can also be a contributory factor to their lower participation. For instance, women’s participation in the labour market grew in India from 1999-2000 to 2004-2005 as a way to supplement declining wages brought on by difficult conditions in the agricultural sector (Abraham, 2009). Even during pandemic years, it was noticeable. Women aged 15 to 59 made up 22.9 per cent of the labour force in 2017–18. In 2018–19, this increased to 23.4 per cent, and in 2019–20, it increased by over 5 percentage points. This time frame, July 2019 to June 2020, covers the first months of the Covid-19 pandemic, when India was placed under a strict lockdown. However, it cannot be denied that, according to the Global Gender Gap Report 2022 from the Globe Economic Forum, India has one of the lowest Female Labour Force Participation Rate in the entire globe and the lowest FLFPR among G20 nations at 19.23 per cent. To ensure more gender-inclusive growth and ensure women upliftment in decision making, in private and public issues, to provide them more socio-political independence, and to ensure that the lofty ideals of gender-equality are brought down to reality, the importance of financial independence and right to respectable livelihood cannot be denied. Further, the improper accountability mechanism in the informal economy provides a blanket escape from the regulations, to which women in the formal sector are rightfully entitled, yet another form of exploitation of such a section of society that was first to be exploited. India must not now look upon becoming more gender inclusive when it comes to formal employment. Women in India is predominantly employed in primary sector, according to Indian Council of Agricultural data (ICAR), women make up 75 per cent of those who produce major crops, 79 per cent of those who engage in horticulture, 51 per cent of those who do post-harvest work, and 95 per cent of those who work in animal husbandry and fisheries. Also, for urban women, the service sector has become increasingly significant. In this sector, women have become concentrated in professions such as teaching and nursing, though they offer only limited scope for career progression. However, the manufacturing sector, like the case with the Indian economy, has a huge potential here as well. Just as it can be contributive to the required growth and employment rate Indian economy desires, it also has good scope for formalisation and women employment. For example, in the year 2019-20, out of the total employment provided by the sector, women were less than a fifth. Also, as per a data by Annual Survey of Industry, the women participation between 1998 and 2019 has largely been stagnant hovering around 20 per cent. While if we look at East Asian and Pacific countries, the manufacturing sector played an important role in their growth story, and during this time, female participation in manufacturing jobs accounted for around 42 per cent (Tejani & Milberg, 2016). Also remember, in 2022, the manufacturing sector accounted for around 27.7 per cent of Chinese GDP, while it accounts for only around 14 per cent for India. If India aspires to become an economic giant, marking its potential place in the global geoeconomics and geopolitics, eventually, moving towards becoming a developed country by 2047, it cannot compromise having an inclusive workforce participation, with better and fair opportunities for its 48.5 per cent of population. Views expressed in the above piece are personal and solely that of the author. They do not necessarily reflect Firstpost_’s views._ Read all the  Latest News,  Trending News,  Cricket News,  Bollywood News, India News and  Entertainment News here. Follow us on  Facebook,  Twitter and  Instagram.