As Dr BR Ambedkar once said, the progress of a community is measured by the degree of progress its women have achieved, a principle that is evident in the socio-economic conditions of many countries. Women constitute nearly half of the population in most nations, making their development crucial to the overall growth of a region or country.
Bimstec, which includes Bangladesh, India, Myanmar, Bhutan, Nepal, Thailand, and Sri Lanka, has historically faced challenges regarding women's empowerment. However, in recent decades, alongside economic development, these countries have made significant strides in strengthening the role of women.
India, in particular, has emerged as a leader in this region, positioning women as a central component of its demographic dividend. Indian women are increasingly excelling in various fields, including entrepreneurship, sports, governance, and finance.
The United Nations Development Programme's Human Development Report 2020 highlighted the Gender Inequality Index (GII) rankings for Bimstec countries in 2019. Bangladesh ranked 133rd, Bhutan 99th, India 123rd, Myanmar 118th, Nepal 110th, Sri Lanka 90th, and Thailand 80th among 189 countries.
Rumjhum Chatterjee, Chairperson of the Centre for Women Leadership and Co-Founder & Managing Trustee of The Infravision Foundation, India, acknowledged the existing gender gap and low female workforce participation. She emphasised the need for Bimstec countries to enhance partnerships and adopt proactive measures to create more economic opportunities for women. Representing India, she also highlighted the country's efforts in championing 'women-led development,' including the 33 per cent reservation for women and capacity-building initiatives.
The CII Bimstec Business Summit 2024 is focused on collective strategic planning and implementation by member countries to create a better future and economic opportunities for women.
Bhawani Rana, Co-chair of the India-Nepal Joint Business Forum and Former President of the Federation of Nepalese Chambers of Commerce and Industry, stressed the importance of economic empowerment for women's overall development. She pointed out the gender bias due to socio-cultural norms and the lack of education among women in Nepal. Rana noted that Nepal's economy, heavily reliant on remittances, benefits significantly from the contributions of female migrants. She also proposed the formation of a Bimstec Chamber of Commerce and Industry to further uplift women in the region.
In Bhutan, known as the happiest country in the region, Phub Zam, Former President of the Bhutan Chamber of Commerce and Industry, emphasised that empowering women economically is not just a matter of equality but a strategic necessity for fostering inclusive prosperity in the Bimstec region.
Khine Khine Nwe, Secretary General of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), highlighted the inherent strength of women and referred to studies showing that narrowing the gender gap in Bimstec countries could add billions of dollars to their economies.
Nandita Barua, Country Representative of India for the Asia Foundation, cited a McKinsey report stating that if the economic sector becomes equitable for women, it could add USD 28 trillion to the world’s GDP. She also noted that while India is known as a startup capital, only 10 percent of these startups are women-led. Barua stressed the importance of platforms like Bimstec in increasing women's participation in economic activities, policymaking, and executive roles to ensure their upliftment.
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