India’s GDP can expand by 27 per cent if the number of female workers increases to the same level as that of men, International Monetary Fund’s chief Christine Lagarde said on Sunday 06 September.
This is much higher than the positive impact a 50-50 gender parity in workforce can have on the economies of the US and Japan at 5 per cent and 9 per cent respectively.
Speaking at the launch of W20, a grouping of women leaders from the world’s 20 largest economies including India, Ms Lagarde said that it was an absolute economic no-brainer that empowering women boosts economic growth.
“We have estimates that, if the number of female workers were to increase to the same level as the number of men, GDP in the United States would expand by 5 per cent, by 9 per cent in Japan, and by 27 per cent in India,” Ms Lagarde said in a written keynote speech she had prepared for the event.
“These estimates, while of course tentative, are significant and large enough to be taken seriously. This applies particularly to countries where potential growth is declining as the population is ageing,” she added.
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