Anjali Phadnis Bargaining, savings & gold _ Invisible hand of wom | Page 2

home starting early morning till late night and in between attending all the farming activities
including dairy, horticulture, floriculture and maintaining one full family.
Isn't the running house a "service" or "full time job"? that care work comes without
any complaining about overtime or sick days often end up doing even when perfectly
capable men are available and happens without any rupees and bank receipts in
changing hands ,it does not show up in GDP reports or economic outlook and does not
figure as prominently in our minds as it arguably should.
Now let’s come to the numbers , participation of women in workforce in India is 27%, 88%
women of working age in bet 15-59 years are household workers, saving rate of India is 33%
of GDP where 70% comes from household savings, 20% from private corporate sector &
10% from public sector. That’s the thing about Indian woman she grown up with impressions
that woman should save money and spend less and for that thing she would bargain, fight for
lowest price in shops, women never makes crowd in fixed price shops, it’s the insult of their
intuition. She have that "conservative financial mind" to save money and use it in the crucial
moments of life. One of the chief reason behind global economic crisis 2008-09 was western
people used debit cards without having savings in bank account. If you notice literally that's
conservative financial nature of Indian woman have saved India from going in economical
crisis
Some days back I got a meme telling Indian women have gold equivalent to the gold reserves
hold by the top gold stockings central banks of countries such as US, Germany, Italy, France,
China and India. About 11% of the worlds available gold which is more than 18000 tonnes
worth more $950 billion and claims 50% of Indian GDP in dollar terms. GOLD that yellow
metal, Indian woman with her Midas touched over demand turnt into a precious "perceived
wealth". Have you ever noticed once you bought the gold you don't have to pay taxes and
gold prices are always on raise, returns are always positive.
If a woman does bargaining she understands the value of money, if a woman does
saving she is preparing for future crisis, if a woman walking with full of gold ornaments
notice she is the secret member of worlds richest underground gold savings bank.
During one recent academic interview I was being asked "what should we do for common
Indian woman's economical empowerment?" I was expecting to say education, self help
groups etc those traditional answers, I said