The World Bank Group’s 10th edition of the Women, Business, and the Law (WBL) report for 2024 ranks India 113th out of 190 countries with a score of 74.4%. The WBL report evaluates the legal and regulatory environment for women’s economic participation globally.
Key Insights from WBL 2024:
- India’s Ranking: India has improved its position, scoring 74.4%, where women enjoy 60% of the legal rights granted to men. This is below the global average of 64.2%, but higher than the South Asian average of 45.9%.
- WBL 1.0 and WBL 2.0 Frameworks: The WBL 1.0 continues to assess countries based on 8 indicators, while WBL 2.0 introduces new metrics for Safety and Childcare, aiming to bridge the gap between legal reforms and actual outcomes.
- Global Rankings: Belgium, Canada, Denmark, and other top nations scored 100%, showcasing full compliance with WBL’s legal frameworks. India’s neighbors in the ranking include countries like Armenia and Bulgaria, both scoring 90.6%.
Challenges and Supportive Frameworks in India:
- Supportive Frameworks: India’s performance in establishing supportive frameworks for promoting law is at 54.2%, above the global average of 39.5%.
- Labor Force Participation: India’s female labor force participation is at 37%, significantly behind OECD countries, which average over 50%.
Global Gender Gaps and Recommendations:
- Implementation Gaps: Globally, significant implementation gaps remain, with an average of less than 40% of necessary systems fully established.
- Economic Potential: Addressing discriminatory laws could potentially boost global GDP by 20%, effectively doubling global growth rates over the next decade.
- Childcare: The report highlights the urgent need for improved childcare frameworks, suggesting the establishment of a publicly accessible registry for childcare providers.
This detailed analysis not only sheds light on India’s strides and struggles but also underscores the global urgency to close the gender gap to unleash substantial economic growth.
Login with Google