Economic Challenger Issue 76 July- Sept 2017 | Page 6

who have more involvement of women in the management have better financial results than those without that. more women into the non-farm labor force in the next decade and increase the GDP by 25-27 %. Catalyst reported that companies with the least number of women directors on their boards and those with the most showed that the latter outperformed the former in their return on their sales by 16 % and their return on invested capital by 26 %. India's policymakers, business leaders, and social sector leaders need to focus on following broad eight areas; ● Companies ● In 2013 ● A study by Credit Suisse 2014 on nine-year average (2005-2013) showed that with at least one women on board had a return on their equity of 14.1 % versus the return of 11.2 % in companies with no such representation. ● Thomson Reuters in a survery in 2014 based on the sample of 1843 international companies, showed that companies with the mixed board, had better returns and fewer tracking errors. ● Closer to Home a Study in 2014 by Shanavat and Ramsben, a comparison of performance between 2009 and 2013 of 863 companies with no women on their boards and of 990 other companies whose boards were having at least 10 % women showed that the companies with mixed boards performed better. ● Report of ILO, 2015, on women in Business and management at the global level, showed that except Columbia, Jamaica and Saint Lucia there were more men than women in leadership positions. Over time in some countr ies including Canada, Germany, and Spain the share of women in management positions declined between 2000 and 2011. ● As per the Projections by the McKinsey Global Institute Report 2015, there could be a difference in India by promoting gender parity across all sectors by having 68 million 4 1. Education and Training 2. A c c e s s t o s a f e a n d e q u i t a b l e employment opportunities 3. Control over economic resources and opportunities 4. Social protection and child care 5. Access to and control over reproductive health and family formation 6. Freedom from the risk of violence. 7. Voice in society and policy influence. 8. Freedom of movement. By mere inclusion of women participation in same numbers as men in the world labor force could have a potential incremental GDP of 54%. Exacerbating the Gender Gap in the paid work could enhance the global GDP by 13 % as 75 % of the global unpaid work – child care, caring for the elderly, cooking and cleaning – is done by women. This unpaid work valued as per 2015 is dollars 10 trillion of output per year. A lot of work done by women is invisible, un- quantified, unrecognized and unrecognizable. This is because household chores direct and indirect are not recognized as work nor are income saving activities such as collecting firewood or water. It is not only providing opportunities but also looking at outcomes. As unequal outcomes result from indirect as well as direct discrimination, different treatment might be required for achieving equality in practice. As per the World Economic Forum in its Global Gender Gap Report 2014, it will take until 2095 to achieve the global gender parity in the Economic Challenger// ISSN 0975-1351/ July-September. 2017