Mumbai, March 5 Increased participation of women in long-term financial investments could generate a cumulative GDP-equivalent impact of approximately ₹40 lakh crore (USD 430 billion) over a 10-year period, according to a joint report by LIME and EY.
The report stated that this impact would come from channeling women's underutilized savings into productive, growth-oriented capital, which it described as a significant economic opportunity.
"Increased participation of women in long-term financial investments could generate a cumulative GDP-equivalent impact of approximately ₹40 lakh crore (USD 430 billion) over a 10-year period, through higher effective capital formation and the economic output generated by that capital," the report said.
Despite significant gains in financial inclusion, the report highlighted a persistent "participation-to-power gap."
According to the LIME-EY Women's Financial Prosperity Index (WFPI), more than two-thirds of the journey from access to durable wealth remains structurally blocked for women in India.
While women's bank account ownership has risen sharply from 26 per cent in 2011 to over 89 per cent in 2024, many accounts function largely as conduits for government transfers or cash withdrawals, rather than as platforms for saving, transacting, or investing, the report said.
The report highlighted a significant retirement gap, noting that women in India hold 40 per cent less retirement wealth than men, compared with a 26 per cent gap across OECD economies.
Participation in growth-oriented financial assets remains limited. Women account for only 25 per cent of mutual fund folios, and while they constitute 22 per cent of individual borrowers, they represent just 16 per cent of the total value of outstanding loans, the report said.
Digital access gaps also persist. Only 36 per cent of women own smartphones compared with 58 per cent of men. Consequently, almost 60 per cent of women rely on shared devices, limiting their privacy, consistency of use, and ability to make independent financial decisions.