Ring the Bell for Gender Equality Calls for Investment in the Care Economy to Support Women’s Economic Participation

[Joint Press Release]

Ringing the bell at BSE India on 7th March 2024. Photo: UN Women/Daniel Ginsianmung

Mumbai, India — On International Women's Day, BSE (formerly the Bombay Stock Exchange) in collaboration with UN Women, marked a significant moment by hosting the "Ring the Bell for Gender Equality" event. This ceremony, held on March 7, 2024, brought together a prestigious line-up of partners, including the International Finance Corporation (IFC), the World Federation of Exchanges (WFE), the Sustainable Stock Exchanges Initiative (SSE), and Women in ETFs (WE), emphasizing the critical investment in women for accelerating progress toward gender equality.

The gathering underscored the United Nations' theme for International Women's Day 2024, “Investing in women; accelerating progress’, and towards advancing the Sustainable Development Goals (SDGs), particularly Goal 5 on Gender Equality. A significant point of discussion was the investment in the care economy, poised to generate nearly 300 million jobs by 2035, with a substantial number benefiting women.

Susan Ferguson, the Country Representative of UN Women India, highlighted the event's core message: "Today's bell-ringing symbolizes our commitment to empowering women through strategic investments. Supporting the care economy not only reduces and redistributes the care responsibilities shouldered by women but also opens avenues for their economic participation and success."

The ceremony also served as a platform to spotlight the "FinEmpower" program, a joint initiative by BSE and UN Women India, launched during the 2023 Ring the Bell event. This program is dedicated to enhancing women's financial literacy and skills.

Sundararaman Ramamurthy, managing director and CEO of BSE Ltd, reiterated that “initiatives with UN Women play a vital role in ensuring that women can harvest their full potential by breaking barriers. Last year, together, we organized awareness sessions on financial literacy for 1,000 women in 3 cities of India.”

Søren Gade, Speaker of the Danish Parliament, gave his testimony on why gender equality is so important for any nation and economy. He reinstated Denmark’s consistent commitment to improve gender equality, education and women’s active participation in the workforce. He endorsed the role of UN Women which actively promotes this agenda in India and across our planet. Finally he highlighted India’s dedicated efforts in promoting women’s empowerment.

A panel discussion titled “Investment in Care Economy: Pathway to a Resilient Nation,” followed the bell-ringing ceremony. This session saw contributions from the International Finance Corporation (IFC), and leaders from the private sector, discussing the crucial recognition and redistribution of the care burden, making it a shared responsibility for everyone, and the transformative impact of increased private sector investment in the care economy, including through public-private collaborations.

Celebrating its 10th year in 2024, the "Ring the Bell for Gender Equality" campaign calls upon the BSE community and wider stakeholders to champion women's investment, driving towards a sustainable and equitable future for all.