The International Finance Corporation (IFC) has unveiled its latest initiative, the India Gender Collaborative, aimed at enhancing women’s economic participation across India’s private sector. The 12-month flagship gender program seeks to catalyze gender parity and inclusion while boosting women’s recruitment, retention, and promotion in the workforce.
The India Gender Collaborative, spearheaded by IFC, will bring together the World Bank Group, the International Labour Organization, and UN Women to emphasize the importance of integrating more women into business operations. This integration is seen as a means to enhance companies’ profitability and contribute to shared prosperity.
IFC’s flagship program is designed to assist businesses in bridging gender gaps, thereby increasing women’s earnings, productivity, and overall growth. The initiative will provide training to management teams across various companies, helping them create a supportive work environment, especially for employees with childcare and senior care responsibilities. Additionally, the program aims to boost women’s participation in the green economy, aligning with India’s net zero goals.
Wendy Werner, India Country Head at IFC, highlighted the organization’s commitment to driving sustainable and inclusive private sector-led growth in developing countries, with gender being a strategic priority. She emphasized that the India Gender Collaborative, a platform open not just to IFC clients and partners, aims to encourage more firms to invest in women’s employment. This, in turn, will enable companies to tap into a broader talent pool, increase productivity, and enhance staff retention, all of which are crucial for India’s economic resilience.
According to estimates, advancing women’s equality in the Asia Pacific region could add $4.5 trillion to their collective GDP annually by 2025. India, on its own, has the potential to increase its GDP by 18 percent above business-as-usual growth—an additional $770 billion—by promoting gender equality at work.
Debasis Mohanty, Co-founder and CEO of TransVolt Mobility, expressed his company’s commitment to gender inclusion and its anticipation of continued engagement with IFC and other firms through the India Gender Collaborative program. Mohanty emphasized the company’s goal of integrating inclusion into the ethos of its business.
IFC’s efforts to reduce gender gaps in the private sector include initiatives to increase the number of women in leadership positions, expand family-friendly policies such as childcare, and address gender-based violence. The organization also assists its clients in measuring and communicating the business case for investing in women’s employment.
Companies interested in joining the India Gender Collaborative can apply by April 5. For more information, contact indiagendercollaborative@ifc.org.
