Labour reforms needed in India: Economist

MYSURU: International Monetary Fund (IMF) deputy managing director Gita Gopinath said that India still needs reforms, and said that if she were to focus on one big area, it’s on the labour market, and labour force participation, which needs more reforms.
Speaking at the 15th Graduation Day of the JSS College for Women in the city, she stated that the area in which the labour force participation is particularly weak in India, is among women.
If you compare countries at the same level of development as India, and you look at India’s labor force participation of women, compared to other countries, it is low, she said.
“So I was happy when we were here, and while giving the medals and the plaque, several of you who came up here, said you were working. One of you said you have your own business, that you started. So that gives me hope. It’s critical that more women participate in the workforce, which is important for India’s growth story,” she said. “The aspiration to be a $5 trillion economy very fast, or a $7 trillion economy and so on, will be achieved much faster, if women and girls are in the labour force, which is very important,” she said.
“The world has changed. It has gotten better. There are more opportunities for women, but it’s still far from perfect. Your drive, ambition and self-confidence are important to achieve success, so I’m going to urge you to seize opportunities that come your way,” she stated. “You should feel like you deserve the opportunities that come your way. Nobody is doing you any favours. Fight for your rights. It’s absolutely critical that you do that,” she explained.
“All of this is going to be much easier for you to do, if you have a nice support network of other women, who you can have discussions with, and get ideas for how to do things. That would be valuable, and it was very important in my life too,” she said.
She stated that other countries in the world are learning from India’s experience in the digital public infrastructure space.
A total 687 students graduated during the academic year 2021-22, out of which 320 have passed with distinction, 362 students have passed with first class, and 5 students have secured second class. Suttur Mutt seer Shivarathri Deshikendra Swami was present.