GENDER PAY GAP REPORT (Syllabus: GS Paper 2 – Social Issues)

Context: In 2022, male workers in India experienced a recently measured average wage increase of 7.2%, slightly surpassing the 7% growth observed for their female counterparts, as reported in 'A Global Workforce View.'

• The report, based on a survey of more than 32,000 workers across 17 countries, shows that the gender pay gap in India was lower than the global average.

Gender Pay Gap

• About: The Gender Pay Gap is the average difference between the remuneration for working men and working women.
• Also known as: Gender Pay Parity or Gender Wage Gap
• Global Gender Gap Report 2023 India’s rank: 127 out of 146 countries (Released by WEF).

Key Highlights of the Report

• Globally, the paycheque increase was 6.7% on average for men compared with 6% for women.
• Some 63% of the Indian survey participants expressed confidence in their company's advancement toward achieving gender pay equality over the last three years. 
• This surpasses countries in the Asia-Pacific (APAC) region, with Australia at 34%, China at 51% and Singapore at 31%.
• According to the survey, only 25% of the male workers said they believe they are compensated fairly compared with 31% for women.
• India has also shown significant improvement in DEI (diversity, equity and inclusion) initiatives over the last three years, which has brought it to the top of the pack in the Asia-Pacific (APAC) region.
• Indian workers are also increasingly optimistic about skills development opportunities, emphasizing employers’ commitment to providing equal growth opportunities to all.