What is pink tax that Kiran Mazumdar-Shaw called out as 'shameful gender bias'

As the financial year 2023-24 draws to a close, a relatively new type of tax has emerged in public discourse, capturing headlines. Referred to as the 'Pink Tax,' this phenomenon has garnered attention after Biocon Chief Kiran Mazumdar-Shaw shared a video, shedding light on its intricacies. The concept prompts an important question: What exactly does the pink tax mean?

While not as prevalent in India, the pink tax denotes the markup on goods and services specifically marketed towards women. However, men typically pay less for similar or identical products and services. The issue gained significant traction back in 2015 when the New York City Department of Consumer Affairs examined 794 products sold across the city, revealing numerous instances of gendered pricing discrepancies across various categories. Researchers have been studying and analysing this phenomenon since the 1990s.

A recent video shared by Kiran Mazumdar-Shaw on Twitter highlighted the difference in price points between products marketed towards men and women. For instance, the video showcased identical lip balms from the same company and size, with women being charged Rs 250 while men paid only Rs 165. Sharing the video on X, Kiran Majumdar Shaw said, "Pink Tax! A shameful gender bias that women must respond to by shunning such products!"