Kiram Mazumdar-Shaw slammed the Pink Tax.
Biocon chief Kiran Mazumdar-Shaw has reacted strongly against 'Pink Tax', a term used for gender-based price disparity. She posted a video on X that showed why women's products of same category are far more expensive than male products of the same size and quantity. In the accompanying post, she asked women to shun such products. According to World Economic Forum (WEF), gender-based price disparities are prevalent in several sectors, but one of the most visible is personal care products. These include, for example, soaps, lotions, razor blades and deodorants that are marketed specifically to either women or men.
"Pink Tax! A shameful gender bias that women must respond to by shunning such products," Mazumdar-Shaw said in her post on X.
The post was shared early on Wednesday morning and amassed 1.58 lakh views within few hours. Others users supported the entrepreneur's stand.
"Absolutely agree. Question is how should we get around it? It seems a hard choice between buying male products or not buying these products at all," commented one user.
"I consistently point out the higher costs of women's products. The pink tax is prevalent in various places. It's great to see him bringing attention to it and you amplifying the issue. Hopefully, more voices will join in and push for the elimination of the pink tax," said another.
What is Pink Tax?
The pink tax isn't an actual a government tax; it refers to discriminatory pricing that inflates the cost of goods marketed to women.
In 2015, the issue got attention when New York City's Department of Consumer Affairs found many instances of gendered pricing when it examined 794 products sold in the city for consumers of all ages.
However, researchers have been analysing the phenomenon since the 1990s.
Economic Burden of Pink Tax
According to WEF, the discriminatory pricing has put an economic burden on women, since they continue to earn less than men.
The United Nations has called on countries worldwide to take steps to eliminate the pink tax to ensure women achieve full and equal participation in the economy.