Bloomberg reported adding “The forecast is particularly bleak in developing countries like India. " Currently, the employment gap between men and women is about 58 percent point.
And closing that gap could expand India’s GDP by close to a third by 2050, as per an analysis from Bloomberg Economics. But not addressing the issue can derail the country's quest to become a competitive producer for global markets.
Though women in India represent 48% of the population, they contribute only around 17% of GDP compared to 40% in China. The report also pointed out that PM Modi's government has prioritized job creation from the beginning. “But his administration has made little progress in improving prospects for working women.
That’s especially true in rural areas, where more than two-thirds of India’s 1.3 billion people live." The decline in female workforce participation is partly about culture.