India’s Women Are Being Driven Out of the Workforce
India’s Women Are Being Driven Out of the Workforce
(Bloomberg) -- India is paying a steep price for its epidemic of sexual violence.
At least 20 million women — equaling New York, London and Paris combined — have dropped out of the workforce, according to the most recent World Bank data. Bloomberg interviewed dozens of women who revealed they’re staying at home or taking lower-paid jobs out of fear for their safety or for that of their children.
Their disappearance is hindering Prime Minister Narendra Modi’s growth agenda as he pushes to attract foreign investment. The McKinsey Global Institute estimates India could boost its economy by a third in the next seven years by getting more women to work. Yet, only 27 percent of Indian women are employed — the lowest percentage among major emerging nations and G-20 countries, and better only than Saudi Arabia.
Global Headlines
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What to Watch
- Bloomberg Head of Economics Stephanie Flanders interviews Canadian Prime Minister Justin Trudeau at 3:30 p.m. in Toronto.
And finally... Malaysian Prime Minister Mahathir Mohamad often butted heads with neighboring Singapore during his first stint in power. Fresh off his shock win this month that ousted the ruling party after six decades, the 92-year-old took a shot at the city-state's one-party rule. In an interview with the Financial Times, Mahathir said: “The people of Singapore, like the people in Malaysia, must be tired of having the same government, the same party since independence.”
--With assistance from Kathleen Hunter and Michael Winfrey.
To contact the editor responsible for this story: Andrew J Barden at barden@bloomberg.net
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