India’s Formal Economy Has Lowest Female Participation In The World, Says World Bank Report

India’s Formal Economy Has Lowest Female Participation In The World, Says World Bank Report

The pandemic made a lot of people run their businesses online. And the power and reach of social media have also given rise to a lot of businesses online as it is far easier to tap into the target audience through the various social media platforms. Now, this type of business and economy where people make use of their skill sets to start their own entrepreneurial venture online is called the gig economy. A business through a gig economy allows the businessperson to also contact an international consumer base online. We naturally assume that women must have been at the forefront of the gig economy as we saw several women starting their small businesses online in the last few years. But in India, sadly, that is don’t the case.

As per a report by India Today, Indian women’s participation in the gig economy is less than 30 per cent, the World Bank report has mentioned. This comes as a surprise as there is a rise in the gig economy in the country and there is a huge working-class population. India women have the lowest participation in the gig economy from across the world with the current participation swinging between 16 per cent and 28 per cent.

Steps were also taken to boost women’s participation as well in the latest NITI Aayog report. Fiscal incentives have been allocated to companies whose one-third of employees are women. For instance, such companies will be given tax breaks or startup grants for having sizable female participation in their organisation.

Also read: Study Finds That Despite Low Life Expectancy, Men Will Live Longer Than Women. Yahan Bhi Male Privilege!

Apart from these incentives, a couple of other steps have also been asked to be taken by companies to increase female participation. Companies have been asked to develop their infrastructure, provide skill development and also access to technology.

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Kinjal Panchal

Kinjal is an avid reader who drools over fictional men but is a hardcore realist. Don’t do anything to make her give you the ‘bombastic side eye’!

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