The Federation of Indian Chambers of Commerce and Industry Ladies Organization (FICCI FLO) has unveiled a roadmap for comprehensive reforms to the nation's care economy. The initiative, released to commemorate four decades of FICCI FLO, promises to generate over 11 million jobs, with women poised to claim 70% of these opportunities.
At the heart of FICCI FLO's vision lies the recognition of the invaluable yet often overlooked contributions of unpaid care work, predominantly shouldered by women across households. Sudha Shivkumar, President of FICCI FLO, emphasised the urgent need to rectify the systemic undervaluation and invisibility of care work, which she says has perpetuated a market failure, stifling the economic potential of skilled and talented women while misallocating resources on a macroeconomic scale.
The report, which FICCI FLO says has been informed by extensive research and deliberation, lays out a roadmap encompassing five key pillars. Firstly, the proposal advocates for a robust leave policy framework, highlighting the manifold benefits of paid parental leave in nurturing children's development, maternal health, and economic security. FICCI FLO calls upon stakeholders to consider measures such as market-based financing for leave, gender-neutral parental leave, and flexible work options, urging collaboration between government agencies and industry bodies to drive adoption, particularly among smaller enterprises.
Secondly, the report underscores the imperative of subsidies for caregivers, both in the private and public sectors, to alleviate the financial burden on families and businesses alike. Enhancements to existing government schemes, such as Mission Shakti, are proposed to provide wider financial support for childcare, elderly care, and long-term care services, with a focus on empowering women-led Self-Help Groups (SHGs) and NGOs.
Thirdly, FICCI FLO advocates for substantial investments in care infrastructure, citing the inadequacy of current budget allocations vis-à-vis global benchmarks. Recommendations include increasing public funding for childcare centers, introducing new schemes for multipurpose care facilities, and fostering private sector participation through innovative financing mechanisms like Public-Private Partnerships (PPPs).
Furthermore, the roadmap emphasizes the importance of skill training for care workers, aiming to formalize and enhance the capabilities of the diverse workforce in India's care sector. Leveraging existing frameworks and global best practices, the proposal seeks to uplift millions of workers, particularly women, from informality and low wages, thereby bolstering the quality and efficiency of care services nationwide.
Lastly, FICCI FLO calls for the establishment of institutional mechanisms for quality assurance, ensuring that care service provision meets minimum standards of excellence across public and private facilities.
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