The Rising Role of Women in India’s Economic Expansion

The narrative of India's economic expansion towards $5 trillion in GDP and beyond is increasingly intertwined with the remarkable rise of women's participation across various sectors. Since the economic liberalisation of 1991, the inclusion of Indian women in the national discourse has surged, marking a significant shift after decades of policy neglect and underinvestment in women's education. The journey has been transformative, overcoming historical setbacks to unleash the potential of half the nation's population.

In the decades following independence, progress in women's literacy was slow. In the 1950s, women's literacy stood at a mere 9%, inching up to only 39% by 1991. Since then, we have witnessed an unprecedented acceleration in women's literacy rates, reaching 72% in 2022. This progress is not merely a social statistic; it's a powerful driver of economic and demographic evolution. The correlation between women's literacy and declining Total Fertility Rates (TFR) is undeniable. As literacy rates climbed from 43% to 72%, TFR plummeted from 3.4 to 2. India's population is now below replacement level, an organic demographic shift primarily attributed to women's empowerment through education. Government initiatives like 'Beti Bachao, Beti Padhao' have further contributed to positive social transformation, improving the gender ratio in the country now from 991 per 1000 males in 2015  to 1020 in 2021.

The impact of this educational awakening is vividly reflected in the workforce. Between 2017-18 and 2023-24, India witnessed a dramatic surge in the Female Labour Force Participation Rate (LFPR) from 23.3% to 41.7%, and the Work Participation Rate (WPR) for women climbed from 22% to 40.3%. This remarkable transition supports more than just economic progress; it signifies India's commitment to building a dynamic labor market where women are central to shaping the nation's trajectory.  

Fueled by new opportunities, Indian women are also demonstrating soaring aspirations in higher education. Women's enrollment in higher education institutions has been growing at an impressive 5% year-on-year since 2011-12, outpacing the 3% growth rate for men. Notably, in FY19, women's Gross Enrolment Ratio (GER) surpassed that of men for the first time – 26.4% for women compared to 26.3% for men. This trend has continued, with women's GER reaching 28.5% in FY22, exceeding men's at 28.3%. In medical sciences, women’s enrollment is 58% of the total student population, significantly higher than men as per the latest AISHE report. This surge in higher education enrollment among women is a pan-India phenomenon. States like Uttar Pradesh, Jharkhand, Punjab, West Bengal, Karnataka, and Telangana showcase women's GERs exceeding men's. 

Today, Indian women are making their mark across the socio-economic spectrum. In traditionally male-dominated Science, Technology, Engineering, and Mathematics (STEM) fields, women are increasingly visible, contributing to cutting-edge innovations in biotechnology, life sciences, space exploration, and more. The women of ISRO, for example, have become iconic figures, integral to India's remarkable achievements in space. This extends to the country’s startup ecosystem, where women are actively founding and co-founding tech ventures across diverse sectors – e-commerce, fintech, artificial intelligence, life sciences, media, manufacturing, and healthcare. Corporate India, too, is witnessing greater participation of women at all levels, with board diversity regulations having tangible top-down effects.

Grassroots empowerment is also flourishing. The Panchayat Raj system has emerged as a powerful platform for women's leadership. Starting with a 33% reservation, now increased to 50% in many regions, women in Panchayats are taking ownership of rural development. These women are driving impactful changes – from promoting self-reliance through renewable energy projects to mobilising women's Self-Help Groups (SHGs) for community betterment. The rise in the number of female Sarpanchs is a testament to this transformative change. This pattern of increasing women's leadership is mirrored across administrative services, political roles, entrepreneurial ventures, agriculture, dairy production, and manufacturing.  

Government initiatives are playing a crucial role in supporting this rise. Programs focused on providing clean water, ensuring paid maternity and paternity leave, expanding maternal and child immunisation, providing free LPG cylinders to rural women, and promoting sanitation through Swachh Bharat have collectively contributed to the health and overall upliftment of Indian women. Furthermore, India's digital revolution, leveraging the India Stack and Jan Dhan accounts, has facilitated unprecedented women's empowerment on a massive scale.

While the journey towards gender parity is ongoing, the rise of the Indian woman is undeniable. The foundation has been laid. As more women seek opportunities across rural economies, in professional sectors, and in urban centers, India's imperative is to ensure these opportunities are readily available. Unlocking the full potential of India's women is the key to doubling the nation's workforce, boosting productivity, and accelerating economic growth. The future of India's prosperity is inextricably linked to the continued empowerment and advancement of its women.