In India, historically, there has been a history of gender inequality, which has contributed to the country’s poor economic growth and underdevelopment. Although India is today considered a developing nation, gender discrimination is still pervasive in the culture. Although there is a good trend in the literacy rate, a key growth index component, there has also been a favorable trend in the employment rate for both men and women. Yet, there are a number of additional factors that contribute to the disparity in the employment rates for men and women. Latent effects on the unemployment rate are also being caused by several demographic and psychological variables. Principally, the gender unemployment gap is the difference between female and male unemployment rates. Women in India have several extra obstacles in their professional lives, and examining a variety of gender-related workplace factors is a fantastic place to start in comprehending these issues.

In India, the proportion of women working in finance and related sectors is continuously declining. In the workforce, there is often just one woman for every eight men. The CFA Institute studied 134 firms to gather the data used in this article. The disclosures submitted by 134 listed companies were examined by the international non-profit organization of investment professionals for its Corporate Responsibility and Sustainability Report for the years 2021–2022. Includes stability disclosures required by the Securities and Exchange Board of India under this BRSR framework for the year 2021. (SEBI). Indian businesses were required to disclose data on the workforce’s gender distribution as well as information on pay and attrition rates. For FY22, disclosures are optional; for the top 1000 firms in FY2022-23, disclosures are required. According to the report, financial services and information technology have larger workforces and participation rates than other industries. Women’s professional advancement in these fields remained underwhelming. For instance, women made up 15.9% of senior management individuals and 21.7% of the workforce at businesses in the financial services industry.

Grounds for the Gender Unemployment Gap

• Inadequate social support leads to the gender unemployment gap. India is a land of diverse cultures, and different cultures have their own customs and rituals. It is unfortunate but even in the current scenario, gender inequality is prevalent in society. Some societal part of the country does not prefer girl child education. There is a wider disparity in literacy rates of males and females in both rural and urban India. The difference in literacy rates between the two genders is 8.9 percent in Urban India and 15.5 percent in Rural India.
• The inadequate family support restricts females to grow academically and professionally.
• The government and respective organizations have become now more Stringent for policies and laws for female employees but still, the cases of sexual harassment and abuses at the Workplace are evident, this seeds a sense of insecurity in female employees and eventually leads to higher employees turnovers.
• The disparity in remuneration leads to a lack of self-confidence and low self-esteem among females.
• Some policies of respective organizations need the active participation of employees for which they prefer male employees only. India is now a developing country and society also talks about women empowerment but still, women are considered as a weaker section due to which there is a gap between job opportunities and female job seekers.