India needs 145 million women in workforce to achieve $30 trillion economy by 2047: Report
The report outlines the roadmap to double the female labour force participation rate (FLFPR) from the current 35%–40% to 70% by 2047.
Despite favourable socio-economic conditions, projections show that only 110 million women will be added to the workforce by 2047, bringing the total to 255 million, or an FLFPR of just 45%. To bridge this gap, the report highlights the importance of integrating an additional 145 million ‘missing women’ into the workforce. This is not only critical for economic growth but also for promoting gender equality.
Jayant Rastogi, Global CEO of Magic Bus India Foundation, emphasised the importance of empowering women, stating, “Empowering women is more than a moral choice; it is also an economic lifeline. To meet our $30 trillion GDP target, we must increase female participation to 70%, bringing 400 million women into the workforce.”
Navneet Chahal, Partner at Bain & Company, added, “India’s growth story cannot be fully realised without enhanced women’s participation. Our report provides a clear strategy to close the 145 million ‘missing women’ gap, enabling India to unlock $14 trillion in economic value.”
The report identifies barriers faced by both rural and urban women and presents two key livelihood models: the ‘E4 Model’ to support rural women entrepreneurs, and the ‘PROGRES Model’ to enable job readiness for urban women. It calls for ecosystem collaboration among government, private sectors, and nonprofits to create gender-inclusive policies and market access for women.
