ET Women’s Forum: Urgent need for a gender-responsive recovery strategy

It can alleviate hardships and help nations & businesses bounce back faster from Covid crisis.

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Women are suffering more than men in the pandemic.
Women are suffering more than men in the pandemic. Crafting a Gender-responsive social and economic recovery strategy can alleviate their hardship and help nations, businesses and society bounce back faster from the COVID-19 crisis

Set in the grim backdrop of women facing more economic hardship than men through the Covid-19 pandemic, the 3rd edition of The Economic Times Women’s Forum is an expression of the resolve that India and the world must show in developing a gender-responsive recovery plan. Several studies have shown that women have been more impacted than men. But the good news is that the economic benefits of narrowing gender gaps are six to eight times higher than the social spending required to bridge such gaps.

A McKinsey study concluded that Global GDP could gain $13 trillion if action is taken to advance gender equality. This is a gain that a world staring at a recession can ill afford to overlook.
ET Women’s Forum


The 2020 ET Women’s Forum will unfold from September 23 in a new online avatar, cognizant of new social and business realities imposed by the pandemic. It will also address the new challenges we must face and overcome.

The new online format will stay true to the original mission — collaboratively create an urgent, sustainable and national culture of empowering India’s half a billion women. The ET Women’s Forum hopes to seed and water new ideas and conversations around facilitating greater participation and reducing gender inequality in every sphere of life, work and play.

António Guterres, Secretary-General, United Nations recently warned that the pandemic is exacerbating hurdles women face and the world is at risk a generation or more of gains if there is no response. His warning should sound more shrill for India, which has slipped from a rank of 87 to 112 between 2016 and 2020 in the World Economic Forum’s annual gender gap Report. The Forum will address these realities, and will seek to build pathways of hope to empower India’s half a billion women and ensure enjoys the rich dividend it can reap in doing so.

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Voice of concern and call to action
"Without a concerned response, we risk losing a generation or more of gains. In short, the pandemic is exposing and exacerbating the considerable hurdles women face in achieving their rights and fulfilling their potential," said Guterres.

ET Women’s Forum

1] WOMEN HAVE BEEN AFFECTED MORE THAN MEN...

And that is hurting both women & national economies
- Negative impact on global GDP by 2030 because women’s unemployment has been a lot higher that men’s unemployment: $ 1 TRILLION
Source: McKinsey
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Sharp Pain in the unorganised sector
The unorganised sector has seen huge job losses and the pain for women has been aggravated even more by the absence of a social security net.
Source: UN, IMF

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The Professional Setbacks
Women have lost more jobs then men because of the pandemic. That is the stark and unfair reality today. Years of work on gender-diversity may be undone.

ET Women’s Forum

2] ...BUT A GENDER-RESPONSIVE RECOVERY PLAN CAN YIELD RICH DIVIDENDS

  • Number of women and girls who can be lifted out of poverty if governments provide access to education, family planing equal wages and cash transfers: 100 MILLION
  • Funds needed to close gender poverty gap: $48 BILLION
  • Potential addition to global GDP by 2030 if action is taken now to advance gender equality: $13 TRILLION
  • Potential addition to global GDP by 2030 if action to advance gender equality is taken after the the crisis has subsided: $5 TRILLION
Source: Mckinsey

Why Gender-diversity should remain a priority

  • Economic benefits of narrowing gender gaps are six to eight times higher than the social spending required.
  • Those in the top quartile for gender diversity on executive teams were 25 percent more likely to have above-average profitability than companies in the fourth quartile.
  • Companies now pulling back on diversity and inclusion may be placing themselves at a disadvantage in terms of resilience and the ability to recover from the current crisis.
  • They could be limiting their access to talent, diverse skills, leadership styles, and perspectives.
Source: Mckinsey

ET Women’s Forum

UN Recommendations for Gender-responsive recovery plan
  • Put cash in women’s hands through direct cash transfer of subsidy
  • Extend basic social protection to informal workers
  • Integrate gender assessment in all exercise to measure impact of VOCID-19
Other Sources: IMF, UN WOMEN, WOMEN COUNT, WTO

IIFL Wealth Hurun India List: Meet India’s Richest Women
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The IIFL Wealth Hurun India Women Rich List is out. In its second year of existence, the list continues to celebrate women wealth creators in the country. And despite strong murmurs of an economic slowdown, this list has something to cheer about, after all.


The number of women in this year’s rich list has grown to 152 women. And while that can hardly be called an equal representation - with just about 16 percent of the total number of individuals - it’s a leap from previous years where women were hardly visible.


Here's a list of this year's entrants:

The IIFL Wealth Hurun India Women Rich List is out. In its second year of existence, the list continues to celebrate women wealth creators in the country. And despite strong murmurs of an economic sl..
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The 37-year-old HCL Technologies scion tops this year’s women rich list at Rs 36,800 crore. Roshni Nadar, the only child of Shiv and Kiran Nadar, is also the only woman in the top 20 that boasts of the usual suspects including Mukesh Ambani, Azim Premji and Gautam Adani. Roshni, who is married to Shikhar Malhotra, also serves as the Executive Director and CEO of HCL Enterprise. Ranked 51 in the Forbes Power List 2018, she has been driving change via diversity and philanthropy through the Shiv Nadar Foundation.

The 37-year-old HCL Technologies scion tops this year’s women rich list at Rs 36,800 crore. Roshni Nadar, the only child of Shiv and Kiran Nadar, is also the only woman in the top 20 that boasts of t..
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Smitha V. Crishna ranks second on this year’s list at Rs 31,400 crore. A third-generation heir of the Godrej Empire, she has a one-fifth stake in the Group, along with her brothers. Her brother Jamshyd runs consumer goods firm Godrej & Boyce. She is married to Vijay Crishna, a well-known theatre actor, and has a daughter Nyrika Holkar who also works in the group. In 2014, she purchased a bungalow belonging to the late atomic physicist, Dr. Homi J. Bhabha, for ₹371 crore. The bungalow was demolished two years later, with reports of a high-rise being planned in its place. This move was met with much displeasure by the Indian scientific community.

Smitha V. Crishna ranks second on this year’s list at Rs 31,400 crore. A third-generation heir of the Godrej Empire, she has a one-fifth stake in the Group, along with her brothers. Her brother Jamsh..
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Kiran Nadar, who comes third in the list at Rs 25,100 crore, is a well-known art enthusiast. Under her patronage and guidance, the famed Kiran Nadar Museum of Art has provided a platform to young artists, and also helped improve the visual aesthetics of public spaces in and around the National Capital. Apart from art and aesthetics, the 67-year-old is also one of the top bridge players in the country and has represented India in several world championships. Last year, Nadar led her team to win Gold at the Commonwealth Bridge Games in Australia.

Kiran Nadar, who comes third in the list at Rs 25,100 crore, is a well-known art enthusiast. Under her patronage and guidance, the famed Kiran Nadar Museum of Art has provided a platform to young art..
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With a net worth of Rs 18,500 crore, Kiran Mazumdar-Shaw of Biocon retains the crown of the richest self-made woman in India. She founded Biocon in 1978 and has led its successful IPO in 2004. The Biocon Chairperson and Managing Director, who has 1.5 mn followers on Twitter, has often highlighted government apathy and policy failures on the micro-blogging site. A role model for millions of young women, she has also been conferred with the Padma Shri and the Padma Bhushan for her achievements.

With a net worth of Rs 18,500 crore, Kiran Mazumdar-Shaw of Biocon retains the crown of the richest self-made woman in India. She founded Biocon in 1978 and has led its successful IPO in 2004. The Bi..
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Irrespective of gender, pharmaceuticals has shone in this year’s rich list. Of the top ten entries, four belong to the domain. Manju Deshbandhu Gupta follows biocon entrepreneur Kiran Mazumdar-Shaw at the fifth slot with Rs 18,000 crore. She served as the Executive Director of Lupin till 2017, and has been a Member of the Board for over four decades.

(Image: Lupin)

Irrespective of gender, pharmaceuticals has shone in this year’s rich list. Of the top ten entries, four belong to the domain. Manju Deshbandhu Gupta follows biocon entrepreneur Kiran Mazumdar-Shaw a..
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The pharmaceuticals domain continues its golden streak in this year's IIFL Wealth Hurun India Rich List. Leena Gandhi Tewari, the chairperson of USV Private Limited which is a multinational pharmaceutical and biotechnology company, comes in at the sixth position. Her wealth is estimated at Rs 13, 200 crore. USV was founded by her grandfather Vithal Balkrishna Gandhi in 1961.

(Image: USV India)

The pharmaceuticals domain continues its golden streak in this year's IIFL Wealth Hurun India Rich List. Leena Gandhi Tewari, the chairperson of USV Private Limited which is a multinational pharmaceu..
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Hyderabad-based Nilima Motaparti comes in at number eight on the list. The daughter of Divi's Laboratories founder Murali Divi, her wealth is valued at Rs 9,800 crore. She has a masters in international business from Gitam Institute of Foreign Trade, Visakhapatnam, and masters in international finance from Glasgow University in the UK. At Divis Laboratories, she acts as the Chief Controller - Commercial, and handles finances and matters related to procurement.

(Image: Divis Labs)

Hyderabad-based Nilima Motaparti comes in at number eight on the list. The daughter of Divi's Laboratories founder Murali Divi, her wealth is valued at Rs 9,800 crore. She has a masters in internatio..
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The London-born, India-raised Jayshree Ullal ranks at the ninth spot. The President and CEO of Arista Networks, she is now one of the wealthiest female executives in America. She owns close to 5 per cent of Arista's stock, some of which has been kept for her two children, niece and nephew.She studied electrical engineering at the San Francisco State University. The 58-year-old lives in Saratoga, California.

(Image: LinkedIn)

The London-born, India-raised Jayshree Ullal ranks at the ninth spot. The President and CEO of Arista Networks, she is now one of the wealthiest female executives in America. She owns close to 5 per ..
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Sangita Jindal, the better half of steel magnate Sajjan Jindal, is ranked at the tenth position with Rs 9,600 crore. She is the Chairman of the JSW Foundation which drives social development projects within the Group. The 57-year-old also leads Jindal Arts Centre and is the President of Art India magazine that focuses on contemporary art practices and critical theory. She has one son and two daughters.

Sangita Jindal, the better half of steel magnate Sajjan Jindal, is ranked at the tenth position with Rs 9,600 crore. She is the Chairman of the JSW Foundation which drives social development projects..
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