Hiring more women can add $7 trillion to global economy, says a new report

A recent report by Moody's Analytics has highlighted limited and divergent progress made in elevating females in the workplace. According to the report, the gender gap gets wider in senior positions, with only 23 percent of executive roles held by women. This is a concerning trend that could hinder economic growth and development, not only in India but across the globe.

India's economic potential could see high returns by closing the gender gap, according to Dawn Holland, Director of Economic Research at Moody's Analytics. Currently, only 15-16 percent of women are in managerial positions in India, and this gender imbalance needs to be addressed. By closing the gender gap, more people can actively participate in the workforce, unlocking India's potential for stronger growth.

“Closing the gender gap in India has the potential to deliver some very high economic returns. Less than 30 percent of working age women are currently attached to the workforce and if you look at the share of managerial positions held by women then that share shrinks to 15-16 percent. So if India were to close those gaps, that would bring a lot more people into the workforce which would create the potential to grow faster,” Holland said.