The United States Deputy Secretary, Wendy R. Sherman, has recently emphasized the importance of women in driving rapid and sustainable growth in India. In a virtual address to the India Economic Summit, organized by the World Economic Forum, Sherman stated that investing in women is critical for India’s economic recovery and long-term growth.
Sherman highlighted the fact that India has a large and rapidly growing female workforce, but that women still face significant barriers to participating fully in the economy. She cited data showing that only 27% of women in India are in the labor force, compared to 82% of men. This, she said, is a missed opportunity for India’s economy and society.
Sherman also emphasized the importance of addressing the gender pay gap in India, where women earn only 63% of what men earn. She stated that closing this gap would not only be fair, but would also boost economic growth, as more women in the workforce would lead to more economic activity and more income for families.
The Deputy Secretary also highlighted the importance of investing in women’s education and training, stating that women with higher levels of education are more likely to participate in the workforce and to earn higher wages. She also stressed the importance of providing affordable and accessible childcare and other family-friendly policies to make it easier for women to balance work and family responsibilities.
Sherman also highlighted the importance of women’s leadership and participation in the economy, stating that companies with higher numbers of women in leadership positions are more profitable and more innovative. She also stressed the importance of women’s participation in the agricultural sector and in small and medium-sized enterprises, which are key drivers of economic growth in India.
In conclusion, the United States Deputy Secretary, Wendy R. Sherman, has emphasized the importance of women in driving rapid and sustainable growth in India. She highlighted the need to address the barriers that prevent women from fully participating in the economy, including the gender pay gap, lack of education and training opportunities, and the lack of family-friendly policies. She also highlighted the importance of women’s leadership and participation in key sectors of the economy, such as agriculture and small and medium-sized enterprises. Investing in women is critical for India’s economic recovery and long-term growth.