Closing the gender gap in skills and opportunities

The beauty and wellness industry is emerging as a transformative force that equips women with essential skills and ensures financial sustainability

Despite various initiatives, a significant gender gap persists in learning and gaining opportunities between men and women. Skills development can be a transformative force that enhances women’s professional development and economic independence. By gaining skills, women can access wider job opportunities and empower them socially and economically.

The survey titled “Economic Empowerment of Women” conducted by the Indian Statistical Institute Delhi in 2023-24 investigates women’s skill development and employment environment. It turns out that 7 out of 10 women do not have economic independence. India ranks 142nd out of 146 countries in the Global Women’s Economic Participation and Opportunities Index. Women’s contribution to GDP in India is only 17 percent, less than half the global average. Their economic participation is essential for sustainable development, gender equality and poverty reduction.

According to the McKinsey Global Institute (MGI), bringing 68 million more women into the workforce by 2025 could potentially increase India’s GDP by US$0.7 trillion. The World Bank also states that including 50 percent of women in the workforce could increase India’s GDP growth by 1.5 percentage points.

The International Labor Organization (ILO) states that the Labor Force Participation Rate (LFPR) for women in India is approximately 32.8 percent in 2023, compared to 67.2 percent for men. Women are primarily found in specific sectors such as agriculture (73.2 percent), education (44.1 percent), and health and beauty-wellness (31.4 percent).

An estimated 7.5 crore women are expected to join the workforce in the next decade. To ensure that this vital human resource (almost half of the country’s workforce) is used effectively and contributes at least 25 percent to national economic growth, the government needs to prioritize skills development for women’s empowerment.

In addition to these gaps, widespread gender stereotypes also affect skill acquisition. Women often pursue skills in beauty and wellness, textiles, office work, and health. DP-WEE research shows that 30.2 percent of skilled women aged 18 to 35 have acquired skills primarily in the beauty and wellness sector, followed by 21.5 percent in tailoring. The beauty and wellness sector is a key enabler of women’s empowerment is one of the powers. in India today.

The rapid growth of the sector, the accessibility of skills development, the increasing number of women entering the workforce and entrepreneurship, and the rise of women in leadership roles are contributing to supporting a more equitable society. The beauty and wellness industry in India is rapidly advancing women’s empowerment by providing significant employment to approximately 12.3 million people, 66 percent of whom are women.

This workforce includes individuals from low socio-economic backgrounds and educated families. According to Technavio’s 2023 report, the beauty and personal care industry in India is expected to grow at a compound annual growth rate (CAGR) of 7.5 percent from 2021, reaching a market value of over $20 billion and creating employment opportunities of approx. . 20.3 million people. Promoting female entrepreneurship is crucial in India, where participation is low and only one in five entrepreneurs are women.

The beauty and wellness industry offers significant employment and entrepreneurial opportunities to women.

There is therefore an urgent need to actively promote skills development, entrepreneurship and self-employment in this sector through targeted educational initiatives, entrepreneurship training and financial support, and to enable women to enhance their professional development. Barriers to entry are low for women who want to become entrepreneurs in India’s beauty and wellness industry.

Many women have leveraged this industry to start their own businesses, giving them the power to take control of their financial future and influence the direction of the industry. More than 30 percent of beauty and wellness businesses in India, from small salons to large spa chains and wellness centres, are now women-owned. By establishing businesses in this sector, women create financial independence and contribute to economic growth. Entrepreneurship makes women more economically visible and influential by promoting leadership skills, self-confidence and resilience.

Government initiatives and private institutions have been instrumental in equipping women with the necessary tools for success in the industry. The National Skill Development Corporation (NSDC), under the Ministry of Skill Development and Entrepreneurship, has played a vital role in training women to pursue careers in beauty and wellness. Initiatives like the Beauty and Wellness Industry Skills Council (BWSSC) provide certifications and skills development courses to millions of women across the country.

According to BWSSC, nearly 2 million women in India have been trained through skill development programs in beauty and wellness, significantly increasing women’s employability and career development.

For over two decades, Orane International, the training partner of the National Skill Development Corporation (NSDC), has been striving to equip 250,000 women in tier-2 cities and suburban areas with valuable skills in beauty and wellness. This initiative helped eliminate geographical inequalities and improved their career prospects, allowing them to take on different roles in the industry. The hybrid form of education also increases chances of professional advancement, overcomes various challenges and reduces the gender employment gap.

Beyond financial and professional empowerment, the beauty and wellness industry increases women’s self-confidence and self-confidence. In a society where women’s appearance is frequently scrutinized, the beauty industry allows women to express themselves, feel more confident, and be actively involved in both social and professional spheres. Women are increasingly taking on leadership roles in this industry, driving trends and shaping the future. According to FICCI’s 2021 report on the beauty and wellness industry, women hold key leadership positions at major beauty brands and represent 50-60 percent of senior management. several top companies.

As women rise to leadership roles, they are influencing industry trends, promoting diversity and inclusion, and helping to disrupt gender norms. Their leadership is further advancing gender equality in the workforce by inspiring the next generation of women to take on important roles. With an increasing focus on sustainability in the beauty and wellness industry, women have opportunities to lead initiatives that promote environmental awareness and social responsibility.

Many women in this field focus on growing their businesses and actively developing sustainable and ethical practices that positively impact society. The beauty and wellness industry is reshaping the future of women by providing them with financial independence, career development opportunities and platforms for self-expression. India. The economic, social and psychological benefits of this sector are paving the way for a new generation of women who will contribute to India’s growth trajectory.

(The writer is the co-founder and MD of Orane International, a training partner of the National Skill Development Corporation (NSDC) and a network member of the International Skill Centers of India, an initiative of the GoI; views expressed are personal)