Gender parity at workplace will play a catalytic role, aid productivity and industrial output

Niranjan Hiranandani, Managing Director, Hiranandani Group

The ongoing decade is the “Decade of Action”, where gender neutralism is the renewed essence of growth. The cosmic future is rapidly evolving towards gender-balance growth, where gender parity will play a catalytic role for a sustainable tomorrow.

India Inc should begin to mainstream gender equality practices that foster economic prosperity steered by inclusive growth.

Gender inequality has a rippling effect on labour productivity and industrial output. Lack of optimum deployment of female labour—a valuable resource leads to disproportionate economic outcomes. To achieve the ambitious target of a $5-trillion economy, equal opportunities will yield phenomenal GDP growth all-encompassing of employment generation—an alarming issue.

Mind the gap

As rightly pointed out, gender equality is not just a moral but also an escalating economic issue. Developing the undermined capacity and contribution of women labour can elevate India to rise to the occasion of being conferred as a global superpower.

Gender equilibrium is oriented towards breaking the bias and bridging the gender gap in all spheres of life.

The advancement of women in the work sphere will have a cascading effect on the labour market as well as will raise the per capita income of households.

Worldwide growth, productivity, and pace of development for women should be accelerated to achieve potential economic performance.

Active participation of women in economic development will fuel diversity, reduce income inequality, reduce demographic imbalance, and contribute to financial stability. Increasing female share in industrial activity will foster a gender-equal economy, a win-win situation.

Government and governance should be aligned to chart fundamental policies, practices and partnership models that create a level playing field for all.

India Inc should enable structural shift by rejigging archaic laws, legal framework, facilitating access to quality education, healthcare, safety and financial services that act as strong policy levers for economic growth on the whole.

Gender parity and globalisation

To promote gender equality much has been done but unfortunately, there is huge untapped potential to close the gender gap.

No emerging economy can afford to fail to invest in women who can contribute multi-fold to the economy and societal growth.

Gender neutralism is imperative for a robust and sustainable future, competitiveness, balanced perspective, job creation and inclusive approach.

Empowering women to a decision-making role will break gender stereotypes and help address external hindrances. New education policies should imbibe gender-neutral pedagogies for a gender-balance future.

India Inc plays a critical role in reducing the leadership gaps by talent-oriented approach and diversified culture.  Equal and powerful actions by people from all strata of the economy are important to removing persistent obstacles.

A gender-neutral mindset in education, employment, and entrepreneurship will bring the Indian economy to the fore.

Gender equality can augment international competitiveness in the age of globalisation. The nexus between gender-gap and globalisation is complex.

Appraising the potential productivity of women will boost economic globalisation. Gender neutrality practiced in the right spirit and colour will help women to gain socio-economic status from global economic integration.

(The author is the managing director of Hiranandani Group, and is a past president of Assocham. Views are personal).