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Experts suggest that the nation needs 50% more women in the labor force

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<p>Experts state that although women may make substantial contributions in a variety of businesses, their current share of the organized sector is less than 30%. In light of the approaching International Women’s Day, experts stress that more female involvement in the organized sector is essential to the nation’s prosperity.</p>
<p><img decoding=”async” class=”alignnone wp-image-475655″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-experts-suggest-that-the-nation-needs-50-more-women-in-the-labor-force-newindianex-750×339.jpg” alt=”theindiaprint.com experts suggest that the nation needs 50 more women in the labor force newindianex” width=”998″ height=”452″ title=”Experts suggest that the nation needs 50% more women in the labor force 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-experts-suggest-that-the-nation-needs-50-more-women-in-the-labor-force-newindianex-750×339.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-experts-suggest-that-the-nation-needs-50-more-women-in-the-labor-force-newindianex-1024×463.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-experts-suggest-that-the-nation-needs-50-more-women-in-the-labor-force-newindianex-768×348.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-experts-suggest-that-the-nation-needs-50-more-women-in-the-labor-force-newindianex.jpg 1200w” sizes=”(max-width: 998px) 100vw, 998px” /></p>
<p>According to NLB Services, in order for the nation to reach its target of having a $7 trillion economy by 2030, 50% more women must be employed. It draws attention to the fact that millions of Indian women work as daily wage laborers in the unorganised economy.</p>
<p>“Industry reports indicate India can achieve a GDP growth rate of 8% provided women account for nearly half of the new workforce set to be created by 2030,” said Sachin Alug, CEO of NLB Services. Bridging the gender gap and advancing India’s ambition to become a $7 trillion economy by the end of this decade need more women to participate in traditionally male-dominated industries.</p>
<p>The labor force participation rate (LFPR) in urban areas grew from 48.2% in October–December 2022 to 49.9% in October–December 2023, according to the December quarter Periodic Labour Force Survey (PLFS). LFPR grew from 22.3% to 25.0% for females over this time, while it climbed from 73.3% to 74.1% for males. July 2023 to September 2023: 24%.</p>
<p>However, from July to December 2023, the unemployment rate for women stays at 8.6%. There is a discernible difference in the number of women who are employed, according to a new CIEL HR Services survey. Although women’s involvement in</p>
<p>ITES had a 31% involvement rate, start-ups and MSME sectors had a 24% participation rate, while EV and aviation had 8% and 6% participation rates, respectively.</p>
<p>Interestingly, e-commerce companies are aggressively hiring women for delivery and warehousing positions. Businesses in many industries are updating their hiring practices to include more women in their workforces. Furthermore, companies must address the issue of keeping women in middle management and provide them specialized leadership development to help them rise within the company, according to Aditya Narayan Mishra, MD & CEO of CIEL HR Services.</p>
<p>The talent solutions provider conducted another poll, and the results show that women entrepreneurs still face many of the major obstacles, such as difficulty raising finance, lack of</p>
<p>The two biggest obstacles are a lack of mentoring and a professional network.</p>
<p>According to NLB Services, the recent government initiatives to promote job creation, such as expanding fixed-term employment across all industries and lowering the EPF contribution for female workers to 8% for the first three years, have helped to close the gap.</p>
<p>ITES had a 31% involvement rate, start-ups and MSME sectors had a 24% participation rate, while EV and aviation had 8% and 6% participation rates, respectively.</p>
<p>Interestingly, e-commerce companies are aggressively hiring women for delivery and warehousing positions. Businesses in many industries are updating their hiring practices to include more women in their workforces. Furthermore, companies must address the issue of keeping women in middle management and provide them specialized leadership development to help them rise within the company, according to Aditya Narayan Mishra, MD & CEO of CIEL HR Services.</p>
<p>The talent solutions provider conducted another poll, and the results show that women entrepreneurs still face many of the major obstacles, such as difficulty raising finance, lack of</p>
<p>The two biggest obstacles are a lack of mentoring and a professional network.</p>
<p>According to NLB Services, the recent government initiatives to promote job creation, such as expanding fixed-term employment across all industries and lowering the EPF contribution for female workers to 8% for the first three years, have helped to close the gap.</p>
<p> </p>


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