G20 Summit New Delhi: When Women Prosper, World Prospers

Gone are the days when the role of women was just confined to kitchens and taking responsibility of children. The role of women in the corporate world in India has evolved significantly over the years. Indian legislation allows reserving one-third of the seats for women in panchayat samitis, zilla parishads, municipal corporations, and municipalities. Nearly 21 states have already mandated 50% representation that helped in encouraging participation of women in leading economic activities. Women's Reservation Bill, known as the Constitution (108th Amendment) seeks to reserve one-third of all seats for women in the Lok Sabha and the state legislative assemblies.

Recently, the G20 Ministerial Conference on Women's Empowerment was inaugurated in Gandhinagar, Gujarat on August 2, 2023. This conference took place from August 2-4. It included participation by Women and Gender Equality Ministers from across the G20 and Guest countries. During India's G20 Presidency, women-led development emerged as a key focus area on a life-course approach basis, marking a shift from focus on women's empowerment alone.

At the Ministerial Conference on Women's Empowerment, Prime Minister Narendra Modi summarized India's vision of women-led development with his statement: "When women prosper, the world prospers. Their economic empowerment fuels growth, their access to education drives global progress, their leadership fosters inclusivity, and their voices inspire positive change." PM Narendra Modi emphasised that empowerment of women is the bedrock of our society's development and their leadership, especially at the grassroots, is crucial for our inclusive and sustainable progress, stated reports.

How G20 seeks to empower women? It is worth mentioning that Women20 (W20) and the EMPOWER Summit under G20 have been dedicated to women and their inclusion for the development. The G20 EMPOWER Summit is a landmark event that underscores the critical role of women in driving global economic growth and will help to create a more inclusive and equitable world.

The Ministry of Women and Child Development is the nodal Ministry for EMPOWER which is the G20 Alliance for Empowerment and Progress of Women's Economic Progression. It is a private sector led initiative under the Sherpa Track that aims to accelerate women's leadership and empowerment in the private sector across G20 countries, according to reports.

Women's Empowerment is not only an issue of social justice but also an economic imperative. The G20 members represent over 80% of the world's GDP, 75% of international trade, and 60% of the world's population. Given its vital role in the global economy, G20 holds a strategic role in achieving future global economic growth and prosperity, with a huge potential to deliver on women's empowerment and gender equality.

Women plays a crucial role in a society and without their progress and advancement, the society as a whole would stop to grow. When strong emphasis will be given to women's development, it will lead to prosperous societies overall. Women's empowerment is the key to ensuring society's overall development.

"The three main pillars of sustainable development-economic, social and environmental-are dependent on gender equality. Research suggests that gender disparities are imposing substantial economic costs and intensifying social imbalances and ecological deterioration globally. Accounting for half of the global population, women possess immense potential as contributors to economic growth. But their underutilisation leads to a massive loss for the global economy. There is a need to invest in education, health and economic development of women as this can have a multiplier effect on the economy," according to Sangita Reddy, Chair, G20 Empower India; Joint MD, Apollo Hospitals Enterprise.

"As G20 Empower 2023 pursues women's empowerment as a priority and India leads the way with Prime Minister Narendra Modi's direction of not just 'Development of Women' but 'Women-led Development', we can unlock the power of women around the world to build a sustainable and resilient world," added Sangita Reddy.