Women and Work: A Necessity for a Thriving Economy | Deepti Prasad | Co-Founder & CMO | Spyne

India’s women are not just breaking glass ceilings; they’re shattering the entire structure. For years, we’ve been fed the same old narrative about women’s potential, diversity, and inclusion. But let’s be honest: it’s not enough to just talk about it anymore. The reality is that India’s workforce is still a long way from truly tapping into the power of its women. And that’s not just a loss for women—it’s a loss for the entire economy. While each day we are getting better, there is still a huge gender disparity in the society that stops us from maintaining our complete economic potential.

Yes, women make up nearly half the population, but their participation in the workforce is embarrassingly low. The reasons are no secret: outdated societal norms, lack of access to education, and workplaces that still treat women as an afterthought. But here’s the thing: when women do get the chance to lead, innovate, and create, they don’t just meet expectations—they blow them out of the water. From boardrooms to tech labs, women are proving that they’re not just “adding diversity” to the mix; they’re redefining what success looks like.

Women are fueling progress.

The correlation between women in the workspace and economic growth is not just hearsay. According to a study by the World Bank of India and the International Monetary Fund, the ever-increasing female employment rates can boost a country’s GDP. Another McKinsey Global Institute report explains how women’s participation in the workspace at the same rate as men could increase the global GDP by $28 trillion by 2025.

Women bring in a lot of different perspectives, leveling up the decision-making and problem-solving process within the organizations. Companies with higher gender diversity have been shown to outperform those with less inclusivity. Furthermore, women in decision-making positions contribute enormously to the job creation and economic dynamism, particularly in small and medium-sized enterprises.

But what’s stopping them?

The problem isn’t women. Companies love to pat themselves on the back for hiring a few women here and there, but true inclusion? That’s rare. Real change means more than just ticking a box. Women earn significantly less than their male counterparts for the same work. This wage disparity discourages workforce participation and exacerbates economic inequality.

Workplace discrimination and bias also remain an obstacle. Women often encounter barriers to promotions, particularly in male-dominated fields such as technology, finance, and engineering. The ‘glass ceiling’ continues to prevent many talented women from reaching leadership positions, depriving organizations of valuable expertise and innovative thinking. It means we must create workplaces where women don’t have to choose between their careers and their families. It means equal pay, opportunities, and a say at the table. And let’s not forget the bigger picture.

Women’s unique perspectives and leadership styles enable businesses to understand better and respond to market demands, mainly since women influence over 80% of purchasing decisions.

If India wants to be a global economic powerhouse, it can’t afford to leave half its population behind. Studies show that increasing women’s participation in the workforce could add billions to the economy. But this isn’t just about money. It’s about innovation, creativity, and fresh perspectives. Women bring ideas and solutions that men might never think of. That’s not a nice-to-have—it’s a must-have in today’s fast-changing world.

What can we do?

Beyond corporate initiatives, gender diversity is increasingly shaping investment decisions. Investors evaluate companies based on diversity policies, recognizing that inclusive workplaces drive better performance. Regulatory measures, such as the requirement for publicly listed companies to have at least one woman director, are further reinforcing the importance of women in leadership roles. Companies that prioritize diversity are not only enhancing their reputation but also positioning themselves for long-term success.

Balancing professional and personal responsibilities has traditionally been a challenge for working women. However, forward-thinking organizations are addressing this by offering flexible work arrangements, extended maternity leave, and childcare support. Initiatives like ‘return ship’ programs are helping women re-enter the workforce after career breaks, enabling them to continue their professional journeys while maintaining a fulfilling personal
life.

Women in future

Women’s workforce participation is not just about employment—it is about building a resilient and thriving economy. By closing the gender gap in employment, India could unlock substantial economic growth, benefiting businesses and society alike. Companies that invest in gender diversity are ensuring a future where talent, innovation, and growth know no gender boundaries.

The question is no longer about whether women should work—it is about how businesses can continue to harness the power of women’s leadership. By fostering an environment of inclusion, innovation, and opportunity, companies can create workplaces where women don’t just participate—they lead, inspire, and drive India’s future forward. The time is now for businesses to take bold steps, embrace diversity, and unlock the full potential of India’s workforce.