Despite progress made on the Sustainable Development Goals and the Human Development Index due to sustained strong growth, South Asia remains home to more than 300 million poor people, and inequality continues to rise.
The pandemic and its economic fallout are having a regressive effect on gender equality. Globally, female job-loss rates resulting from COVID-19 are about 1.8 times higher than male job-loss rates. Although women make up 39% of global employment, this translates into women shouldering 54% of overall job losses.
In South Asia, the labor force participation rate for women is 23.6%, as compared to 77.1% for men. As per the World Economic Forum’s Global Gender Gap Report (GGR) 2021, it will now take almost 200 years to close gender gaps in the region. The index measures countries’ progress towards gender parity on economic participation and opportunity, educational attainment, health and survival and political empowerment.
Key gender gaps in South Asia include:
- One of the lowest rates of female labor force participation (FLFP) of all regions – at 23.6%. Women are three times less likely to be employed in full-time jobs than men in all countries (except Nepal). In India, FLFP has been declining over the past decade and even more sharply post COVID-19. Recent data suggests that post pandemic, India’s female labour force participation rate (FLFP) has fallen to a record low of 15.5% in 2021. Since 1990, female labor force participation in the region has been
decreasing.
- Women are missing from private sector leadership too, with 11% of firms with female heads of companies (2020). Women accounted for an average of 14% of board positions in South Asia in 2016. Recent data finds that Indian stock exchanges (BSE/NSE) have a 16.8% representation of women on boards.
- Low female ownership of firms – 18% versus global average of 34% (2020) and high gender wage gaps.
- A large gender gap (11
percentage points) in account ownership at formal financial institutions, lowest proportion of women-owned businesses.
- High rates of gender-based violence (GBV) across the region. Estimates suggest that two out of every five women in South Asia (2020) experience some form of GBV in their lifetimes.
- Women are missing from private sector leadership too, with 11% of firms with female heads of companies (2020). Women accounted for an average of 14% of board positions in South Asia in 2016. Recent data finds that Indian stock exchanges have a 16.8% representation of women on boards.
- Low female ownership of firms – 18% versus global average of 34% (2020) and high gender wage gaps.
- A large gender gap in account ownership at formal financial institutions, the lowest proportion of women-owned businesses.
- High rates of gender-based violence (GBV) across the region. Estimates suggest that two out of every five women in South Asia (2020) experience some form of GBV in their lifetimes.
- Regional and national data gaps on advancing gender equality persist in the region hindering the path to progress. Data covering women’s presence in the private sector and experience as employees, entrepreneurs, business leaders, consumers and community members is either static or missing.
However, there is a strong business case for gender – e.g. $770 bn can be added to India’s GDP and $30 billion can be added to Bangladesh’s GDP by achieving gender parity.
IFC works with partners in the private sector to close gender gaps, advance gender equality as smart business, and improve women’s access to more and better jobs and assets. Our work on building the business case for gender equality in the workplace includes direct client advisory engagement and research to demonstrate how gender and economic inclusion can drive productivity, profitability, and performance for businesses.
Videos:
Resources
- Women and Ride-hailing in Sri Lanka
- Sri Lankan Businesses Advance Gender Equality
- Gender Lens Investments Enable Women Entrepreneurs to Thrive in Pakistan
- Gendered Impact of COVID-19 on Employment in the Private Sector in Sri Lanka
- Gendered Impacts of COVID-19 on Small and Medium-Sized Enterprises in Sri Lanka
- Powered by Women - Business Case for Gender Diversity and Equality in Nepal’s Hydropower Sector
- Shining the Spotlight – Gender Lens Investments Enable Women Entrepreneurs to Thrive in Pakistan
- The Case for Insuring Women for a Better Tomorrow in Bangladesh
- IFC WeConnect International India Brief
- Distributing Light and Livelihoods: Solar Products Create Economic Empowerment for Women in India
- Together We Can Coffee Table Book
- Her Home - Housing Finance for Women
- Financial Inclusion for Women-Owned MSMEs in India
- Tackling Childcare: The Business Benefits and Challenges of Employer-supported Childcare in Bangladesh
- Women Matter: Findings from Sri Lanka's National Financial Inclusion Survey
- Pakistan Business Council Helps Boost Women's Employment
- Strengthening Women Farmers in DCM Shriram’s Sugarcane Value Chain
- National Foods Limited: Retaining Top Talent through Family-Friendly Policies
- Packages Limited: Advancing Gender Diversity through Equal Opportunity Recruitment Practices
- Interloop Limited: Advancing Women in Non-Traditional Roles
- HBL Pakistan: Advancing Gender Diversity through Effective Anti-Harassment Mechanisms
- Artistic Milliners: Advancing Women in Business Leadership & Management
- Tackling Childcare in Sri Lanka: The Business Case for Employer-Supported Childcare
- Making Progress: Sri Lankan Businesses Advance Gender Equality at the Workplace
- The Case for Gender Diversity Among Sri Lanka’s Business Leadership
- Women on Boards of Companies Listed at the Colombo Stock Exchange (Second Edition)
- Women on Boards of Companies Listed on the Dhaka Stock Exchange
- The Benefits and Challenges of a Workplace Créche: Employer-Supported Childcare in India
- Cutting Through the Cloth Ceiling
- Building a Sustainable Textile and Apparel Market in Bangladesh
- Employing Women Catalyzes Change at a Chemical Plant In India
In the Spotlight
Bangladesh
- Export business costs women higher than men
- Initiative launched for market access of women’s businesses
- Huge scope for women entrepreneurs to participate in local procurement
- IFC and WeConnect International deliver the third roundtable on gender-inclusive sourcing in Bangladesh
- Business that knows no gender
- IFC Training Boosts Supervisory Roles for Women in BD's RMG Sector
India
- IFC to lead $200 million debt financing in Mahindra and Mahindra Financial Services Ltd with at least $100 million earmarked for women-owned MSMEs
- Shalaka Joshi of International Finance Corporation on the business case for gender equity
- Gender-lens investing for financial growth
- IFC and WeConnect International bring together supplier diversity and inclusion experts in India for corporate roundtable
- How women participate in ride-hailing in India compared to other emerging nations
- Hairline Cracks in the Glass Ceiling
Pakistan
- PSX celebrates Women’s Day with Women on Board (WOB), International Finance Corporation (IFC) and the Pakistan Business Council (PBC) joining about 80 stock exchanges around the world
- Serena Hotels join hands with International Finance Corporation to further women employment
- IFC partners with Pakistan Business Council (PBC) to increase women’s participation in economic activities
- IFC client Serena Hotels becomes the first company in Pakistan to obtain EDGE (Economic Dividends for Gender Equality) certification
Srilanka
- The Race is On for Women Ride-hailing Customers in Sri Lanka
- More time for idiyappam: Building an appetite for digital financial inclusion in Sri Lanka
- Ensuring Women’s Voices are Heard in Financial Inclusion
- Women in Leadership: CEO Forum heralds new wave of change
- Employer-supported childcare brings substantial benefits for child, business and economy: IFC Report
- Business leaders share the ‘why’ and ‘how’ of employer-supported childcare at roundtable
- SLID, IFC conduct Train the Trainers workshop for IFC Women on Boards and in Business Leadership
- Sri Lanka must up the game to reach economic gender equality: IFC Country Manager Arif
- Women in Management, IFC, Government of Australia Celebrate Lankan Women’s Successes