Fostering Women’s Economic Growth in India

07 Mar 2023

“The best measure of a nation’s progress is the way it treats its women.” The prosperity of a nation cannot be imagined without women’s empowerment. A society cannot develop sustainably without transforming and amplifying the distribution of opportunities, resources, and choices for men and women so that they have equal power to shape their own lives and contribute to their families, communities, and countries. The equitable participation of women in public life is essential for building and sustaining a strong, vibrant society.

Empowering women is an indispensable tool for advancing development and economic gains. The importance of gender equality is evident by its inclusion as one of the Sustainable Development Goals (SDG 5 – Gender Equality). 

The empowerment and autonomy of women and the improvement of their political, social, economic, and health status is extremely important. Women are important contributors to the economy, both as employees and entrepreneurs. They bring diverse perspectives and skills to the workforce, and drive innovation and growth in various industries.  

In the new India, the modern identity of women’s power is becoming visible to the world. Female entrepreneurs are at the forefront of transforming India into a global powerhouse. At present, there are 432 million women of working-age in India, out of which 343 million are employed in the unorganized sector. A report by McKinsey Global Institute has estimated that just by offering equal opportunities to women, India could add US$ 770 billion to its GDP by 2025. 

Yet, the present contribution of women to the GDP remains at 18%. From small businesses to startups, women are driving innovation and growth in their respective industries. Women have demonstrated through their life and work, and through their leadership and governance that Women make a Difference – not just a small difference but a significant and critical one.  

Women have played a crucial role in shaping and contributing to society in various ways. From battling for their rights to pursuing education and career opportunities, women have made significant contributions to the growth and development of communities, nations, and the world at large. Women’s contribution to the society has been invaluable, and their leadership, resilience, and creativity continue to shape the world we live in today.

With India now presiding over the world’s most powerful economic group, the G20, the country has taken the initiative to give the world a new direction by putting development, led by women, on the global agenda. The representation of women in India is a shining example of the path to social justice and economic empowerment.

CII Corporate Women Leadership Awards 2022

CII, through its Indian Women Network (IWN), proactively supports and envisions to co-create ecosystems that enable women to optimally utilise their economic potential. The CII National Committee on Women Empowerment and the CII IWN together identified issues and developed a roadmap for enhancing gender parity in the nation’s workforce. 

CII believes that empowering and acknowledging women’s achievements today will lead to a progressive society for tomorrow. In this context, as a part of the CII Annual Regional Meeting of the Northern Region, 1stedition of the Corporate Women Leadership Awards 2022 is scheduled on 24 March 2023. 

The Awards aim to acknowledge the women who have broken down barriers, challenged stereotypes, and demonstrated exceptional leadership qualities under 14 diverse categories. The event is not just about celebrating the achievements of remarkable women, but also about inspiring the next generation of female leaders. By recognizing and honouring these trailblazers, we hope to encourage women to pursue leadership roles and to aspire to reach their full potential. 

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