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Rising women's participation in Indian workforce likely led by distress

Reuters · 1y ago

Rising women's participation in Indian workforce likely led by distress

According to a study by Azim Premji University, the recent increase in women's participation in India's labor force is primarily driven by self-employment, likely due to economic distress rather than growth. While more women are entering self-employment, earnings in this sector remain lower compared to other employment options. The study also highlights that India's overall female labor force participation rate remains low, despite a slight increase after the COVID-19 pandemic. The unemployment rate among Indian graduates, particularly youth, is also a concern.

Related News

Trailblazing truckers: Women steer monster trucks in Tata Steel's drive for diversity

Money Control

Money Control · 1y ago

Trailblazing truckers: Women steer monster trucks in Tata Steel's drive for diversity

Payal Kumari is a young and petite woman who works as an operations assistant at Tata Steel's Noamundi iron ore mine in Jharkhand. She is one of 100 women hired by the company to drive and handle heavy earth-moving machinery (HEMM). Tata Steel launched its "Women @ Mines" initiative in 2019 to increase women's participation in the workforce. They have provided training and support to break down barriers and allow women to handle machinery previously considered too powerful for them. The company aims to achieve 25% diversity in its workforce by 2025.

Women participation in tech roles in non-tech sectors to grow by 24.3% by 2027: report

Economic Times

Economic Times · 1y ago

Women participation in tech roles in non-tech sectors to grow by 24.3% by 2027: report

The participation of women in technology roles in non-tech businesses is expected to increase by about 24% by 2027, across all levels including entry-level, mid-senior, and leadership positions. Currently, only 0.5% of women in the workforce are engaged in tech roles in non-tech sectors. India has the highest women's STEM participation rate globally at 43%. However, more efforts are needed to increase female representation in tech, including initiatives supporting maternity and childcare. The report also mentions that hiring of women is projected to increase in cities like Chennai, Pune, and Coimbatore.

Health startup Newmi Care raises $1.5 million from Sprout Venture Partners, others

Economic Times

Economic Times · 11m ago

Health startup Newmi Care raises $1.5 million from Sprout Venture Partners, others

Women's health and wellness startup Newmi Care has secured $1.5 million in seed funding led by Sprout Venture Partners. The funding round also saw participation from LetsVenture, Sarcha Advisors, Key Ventures Forum, and other angel investors. Newmi Care plans to use the funds to establish women's clinics in northern and western India, enhance its technology, drive product innovation, and expand its team. The startup offers a comprehensive platform for women's healthcare, covering consultations, diagnostics, procedures, medications, and health tracking. It aims to simplify outpatient care for women in India and has already served over 60,000 women across various cities.

Indian Consumers' Growing Appetite for Premium Products

Robots · 1y ago

Indian Consumers' Growing Appetite for Premium Products

Indian consumers are increasingly opting for premium products and services across various sectors, from real estate to smartphones and luxury hotels. The shift in consumer behavior presents opportunities for businesses to cater to growing demand for higher-end offerings. Analysts suggest that rising incomes, COVID-19-induced changes in spending habits, and easier access to credit have contributed to this trend. However, improving workforce participation, especially among women, is essential for sustaining and accelerating this growth.

Coralogix raises $115M in Series E funding at $1B valuation

YourStory

YourStory · 2m ago

Coralogix raises $115M in Series E funding at $1B valuation

Israeli startup Coralogix raised $115 million in Series E funding, achieving a valuation surpassing $1 billion. Led by NewView Capital, the funding round also saw participation from the Canada Pension Plan Investment Board and NextEquity, among others. The company plans to invest substantially in its Indian operations, focusing on sectors like BFSI, IT, telecom, logistics, and edtech, while also advancing local AI capabilities and expanding its workforce in cities like Gurugram, Bengaluru, and Mumbai.

Newmi Care, Futwork raise early-stage funding, eye expansion

VCCircle

VCCircle · 11m ago

Newmi Care, Futwork raise early-stage funding, eye expansion

Women's health platform Newmi Care has raised $1.5m in seed funding led by Sprout Venture Partners, with participation from LetsVenture, Sarcha Advisors, Key Ventures Forum, and angel investors. The startup plans to use the funds to expand its women’s clinics, enhance technology and product innovation, and grow its team. Since its launch in May 2022, Newmi Care has served over 60,000 women across 400+ Indian cities, providing comprehensive care for health concerns ranging from menstrual and sexual health to fertility and women's reproductive organ cancers. Contact center solutions provider Futwork has secured INR 210m ($2.8m) in a Series A funding round led by the Michael & Susan Dell Foundation and Artha Venture Fund. The funds will be used to scale Futwork's product line and deploy AI solutions for customer communication across voice, chat, email, and WhatsApp channels. The startup also plans to expand to international markets and support sectors including e-commerce, BFSI, and edtech. Earlier, Futwork raised a seed round of $1m from Blume Ventures and Simile Venture Partners in 2022.

Semi-urban, rural women account for 60% of women borrowers in India: Report

YourStory

YourStory · 5m ago

Semi-urban, rural women account for 60% of women borrowers in India: Report

A report by TransUnion CIBIL, NITI Aayog, and MicroSave Consulting reveals that 60% of Indian women borrowers are from semi-urban and rural areas. They dominate credit in agriculture, business, and gold loans. Southern states lead women's credit participation, with retail credit for women growing significantly since 2019. Despite progress, challenges like collateral requirements and gender biases persist, limiting many women’s access to credit. Government schemes have improved access but barriers remain.

Rural India leading in female labour force participation: Report

YourStory

YourStory · 8m ago

Rural India leading in female labour force participation: Report

India has seen a notable increase in the participation of women in the labor force, particularly in rural areas. A working paper by the Economic Advisory Council to the Prime Minister revealed that rural female labor force participation rate (LFPR) rose from 24.6% in 2017-18 to 41.5% in 2022-23. Urban female LFPR also increased, though at a slower pace. Government initiatives such as Mudra loans and self-help groups have opened up opportunities for rural women's economic engagement. However, there are regional variations with some states experiencing greater growth in LFPR than others. Additionally, marital status and childcare responsibilities impact women's participation in the labor force, particularly in urban areas. Punjab and Haryana have persistently low female LFPRs due to social and cultural norms and childcare obligations.

HouseEazy Bags $7 Mn From Chiratae Ventures

Inc42 · 1y ago

HouseEazy Bags $7 Mn From Chiratae Ventures

Magneum Technology, the operator of HouseEazy, has successfully raised INR 33.57 Crores ($4.5 million) in a funding round led by Chiratae Ventures, with participation from Antler India and AI Growth Opportunities Fund I. The company acts as a mediator between buyers and sellers of secondary residential properties. The funds will likely be used to expand its operations and enhance its technology platform.

Economy to grow slower unless more women join workforce: MeitY secretary - The Economic Times

Economic Times

Economic Times · 1m ago

Economy to grow slower unless more women join workforce: MeitY secretary - The Economic Times

S Krishnan, MeitY secretary, emphasized that India's economic growth will remain suboptimal unless more women join the workforce. At an event by Quess Corp and Udaiti Foundation, he highlighted the need for higher female participation, especially in states with aging populations like Tamil Nadu, to balance job demand and availability. Women comprise a significant portion of the workforce in large factories and sectors like IT. Efforts are being made to improve conditions and participation rates.

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