India Can Learn from Japan’s ‘Womenomics’ Reforms.

India can demonstrate the benefits of Japan’s “womenomics” reforms to stimulate economic growth and solve demographic problems. Japan’s strategy focuses on supporting women in the workforce to improve gender equality and the economy.

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Japan’s “Womenomics” initiative was launched in 2013 under the chairmanship of Prime Minister Shinzo Abe with the aim of integrating more women into the workforce, increasing their employment and improving life performance. The policy includes measures to promote women’s leadership, increase childcare opportunities and equal employment opportunities.

India also faces similar demographic and economic challenges and could benefit from adopting a similar approach. With a large youth population and a growing need for a growing workforce, India looks set to benefit from integrating more women into the economy.

Promoting women’s equality in India could increase India’s GDP by $770 billion by 2025, according to a report by McKinsey & Company. However, gender inequality in the workforce, access to education and skills training, and leadership remain significant challenges.

Following Japan’s success: Womenomics in India may decide to implement policies that encourage women to start their own businesses, provide women with better education and job training, and provide companies with opportunities to hire and support women as leaders.

In addition, supporting child care centres and encouraging flexible work arrangements can help women achieve a better work-life balance and encourage women to enter and remain in the workforce.

Consequently, Japan’s ‘womenomics’  reform presents a huge opportunity for India’s designs to accelerate the economy and achieve greater gender equality. By prioritising women’s empowerment and participation, India can unlock huge economic potential and pave the way for a prosperous future.

News source: https://indianexpress.com/article/opinion/columns/india-can-learn-from-japans-womenomics-reforms-9263161/