International Women’s Day: Why women play a key role in the push to a $5 trillion economy

India’s economy is expected to overtake Japan’s and Germany’s to become the third largest in the world by 2025; thus, every sector must work together where women play a key role in the push for a $5 trillion economy, writes Bayer’s Rachana Panda.

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| March 8, 2024 , 8:43 am
As we celebrate International Women’s Day, let us bear in mind that when we “inspire inclusion”, we empower women. Empowered women are the architects of a thriving nation. As the sun rises on a new India, let the unyielding spirit of our women illuminate the path to progress, equality, and boundless possibilities, writes Bayer's Rachana Panda. (Image source: Unsplash)
As we celebrate International Women’s Day, let us bear in mind that when we “inspire inclusion”, we empower women. Empowered women are the architects of a thriving nation. As the sun rises on a new India, let the unyielding spirit of our women illuminate the path to progress, equality, and boundless possibilities, writes Bayer's Rachana Panda. (Image source: Unsplash)

Women have emerged as an important driving force, acting as catalysts propelling the nation in its transformative journey towards economic glory. The notion of “Womenomics” assumes a central role, promoting the complete and equitable involvement of women in all economic domains. India’s economy is expected to overtake Japan’s and Germany’s to become the third largest in the world by 2025; thus, every sector must work together where women play a key role in the push for a $5 trillion economy.

There is no denying the important role women play in agriculture. And even though women make up the majority of the agricultural workforce, they are rarely recognised as farmers. Only a little over 13 percent of rural Indian women own land, despite the fact that 85% of them work in agriculture. The advancement of sustainable agriculture as well as the improvement of lives and food security depend on closing the gender gap and empowering India’s female farmers.

While Agri-entrepreneurship plays a key role in the development of rural areas, gender equity is an issue. Almost half of smallholder farmers worldwide are women, but they find it difficult to obtain training, and access to Agri-inputs and farm advisory services. I am fortunate to be working with a company like Bayer where my role provides me excellent opportunities to make an impact on the daily lives of women in multiple areas. An example is Bayer’s Better Life Farming (BLF) Alliance which supports smallholder farmers by collaborating with multiple partners along the Agri-value chain to raise farm incomes and crop yields.

The BLF Alliance employs a gender-smart strategy, which involves onboarding female agronomists for extension services and women Agri-entrepreneurs, to reach more women farmers. The program’s effectiveness in increasing the number of women involved and assisting smallholder farmers in raising the standard of living for their families, while simultaneously improving their own livelihoods, can be attributed to its large female membership. Today, we have over 100 women Agri-entrepreneurs running their own BLF centers across 6 states in India and serving 15,000 women smallholders across 150 villages.

Bayer’s unwavering focus on empowering women and girls is also visible in our endeavour to help women take informed decisions about their reproductive health. Globally, Bayer is dedicated to making contraception accessible to 100 million women in low- and middle-income nations by 2030, out of which nearly 5 million women will be from India.

In India, the alarming rate of unwarranted hysterectomies among women aged 30-39 has raised concerns. Rural and impoverished Indian women often undergo this procedure due to various factors, thinking hysterectomy is the best solution. To address this, Bayer’s “Preserve the Uterus” campaign in India, launched in collaboration with FOGSI and IHW, raises awareness about heavy menstrual bleeding, to reduce untimely hysterectomies, and promote modern methods of managing gynaecological conditions.

The campaign involves a comprehensive approach, including awareness creation, education for rural women on menstrual care and hygiene, and encouraging healthcare practitioners to carefully evaluate and offer suitable treatment options. Collaborations with FOGSI and state governments seek to reduce the economic burden of hysterectomies.

In the recently concluded G20 Ministerial meet on women’s empowerment, our Hon’ble Prime Minister has rightly stated that when women prosper, the world prospers. Economic empowerment of women fuels growth and their access to education drives global progress and the most effective way to empower women is through a women-led development approach. This same approach is reflected in this year’s Interim Budget where women have been recognised as an important pillar of economic growth.

As we celebrate International Women’s Day, let us bear in mind that when we “inspire inclusion”, we empower women. Empowered women are the architects of a thriving nation. As the sun rises on a new India, let the unyielding spirit of our women illuminate the path to progress, equality, and boundless possibilities.

Rachana Panda, Vice President & Country Group Head – Communications, Public Affairs, Sustainability and Corporate Societal Engagement, Bayer South Asia.

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