Subsidy on employment for women: FICCI FLO
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New Delhi: Women’s industry body FICCI FLO has called for sweeping reforms to boost India’s care economy, which could create more than 1.1 crore jobs, 70 per cent of which will be women, and unlock a new economic sector. In a report released here today to mark four decades of FICCI FLO, FICCI said that unpaid work is critical to sustaining households and economies, yet it remains largely invisible in estimates of gross domestic product (GDP) and economic growth. And remains unaccounted for.
Sudha Shivakumar, President, FICCI FLO, said, “The market has failed due to the undervaluation and invisibility of care work performed primarily by women, where skilled and talented women are unable to realize their economic potential, leading to widespread undervaluation and invisibility. “There is misallocation of resources at the economic level.” In the report, the top women’s industry body said increasing investment in the care economy has the potential to not only close the gender gap in women’s labor force participation, but also open up a new economic segment.
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