1、The Goldman Sachs Group,Inc.India Womenomics A Step Forward in a Long Journey AheadThe Bigger Picture|June 06,2025 Chaitra Purushotham Santanu SAditi SNote:The following is a redacted version of the original report published 6 June,2025 32 pgs Executi ve Summary 3 I ndi as Demographi c Transi ti on:

2、Reapi ng the Demographi c Di vi dend 8 Understandi ng the Low Femal e LFPR i n I ndi a 10 Progress Ami dst Chal l enges:Recent Devel opments i n Women Parti ci pati on 12 Ri se of Sel f-Empl oyed Women 15 GS Propri etary Survey of Women Entrepreneurs 16 Women i n Corporate I ndi a 20 Next Steps:I nc

3、reasi ng Womens Parti ci pati on i n the Labour Force 23 Appendi x 25 Di scl osure Appendi x 32 6 June 2025 2Gol dman SachsThe Bi gger Pi ctureTabl e of Contents The Bigger Picture is a publication series from Goldman Sachs Global Investment Research devoted to longer-term economic and policy issues

4、,which complements our more market-focused analysis.For other important disclosures,see the Disclosure Appendix.Executi ve Summary A seri es of Gol dman Sachs research reports have expl ored the Womenomi cs theme,assessi ng the i mpact of femal e l abour force parti ci pati on on l ong-term economi

5、c growth across di fferent geographi es over the past 26 years.I n thi s publ i cati on,we assess the current empl oyment status of women i n I ndi a and expl ore opportuni ti es that l i e ahead.nIndia:A unique demographic tailwind story:Over the next two decades,I ndi a i suni quel y posi ti oned

6、to reap di vi dends from favorabl e demographi cs.A l arge share ofthe popul ati on wi l l enter thei r worki ng age years and I ndi as age-dependency rati o1 wi l l be one of the l owest among maj or economi es.Neverthel ess,the female labourforce participation rate(LFPR)in India is significantly b