How Have Women Fared in India’s Economic Growth Story?

Women’s participation in India’s capital market has seen a notable increase, especially since the pandemic, according to a report by the Ministry of Statistics and Programme Implementation (MoSPI). The report highlights that more women are now investing in the market, reflecting a shift towards financial empowerment.

Increasing Women’s Participation in Capital Markets 

The number of female demat account holders has surged dramatically, growing at a pace similar to men.

In 2021, women held 6.7 million demat accounts. But by the end of 2024, this number had grown to 27.2 million, a more than fourfold increase.

The total number of demat accounts in India has also risen from 33.3 million to 143 million, driven by strong market returns.

Between March 2021 and December 2024, the BSE Sensex increased by 61%, further encouraging participation in the capital market.

Rising Women’s Share in Bank Accounts

Women’s financial inclusion extends beyond the stock market. As of 2024, women held 39.2% of all bank accounts in India, with their share rising to 42% in rural areas. This reflects the growing financial independence among women, contributing to overall economic empowerment.

Read more on: Can my demat account have joint holders?

Rising Women’s Participation in Business and Entrepreneurship

The MoSPI report also shows a rise in women leading businesses. The percentage of establishments headed by women increased from 24% in 2021-22 to 26.2% in 2023-24. Particularly in the manufacturing and services sectors, the share of women-headed establishments rose significantly.

The rise in female entrepreneurship is further evident from the increase in the number of startups with at least one woman director. This number grew from 1,943 in 2017 to 17,405 in 2024. This shows a positive trend in women’s involvement in business and entrepreneurship, driven by their growing confidence and participation.

Growth in Women’s Participation in the Workforce

Women’s presence in the workforce has also seen a significant increase. Labour force participation of women rose to 41.7% in 2023-24 from 23.3% in 2017-18. This increase is a clear indication of women’s growing economic participation, which is essential for the country’s overall development.

Women’s Participation in Politics

The gender gap in voting has also narrowed. In 2024, female voter turnout surpassed male turnout, reflecting women’s increasing influence in the political sphere. Political parties have recognised this shift and have been making efforts to attract women voters, offering schemes such as cash incentives and free bus rides.

Conclusion

The MoSPI report reflects a significant rise in female participation in India’s capital market, workforce, and political system. This progress highlights the growing empowerment of women across various sectors of society.

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