India is at its lowest level since WEF started measuring gender gap in 2006, ranks poorly on economic opportunities and healthcare for women.
However, gender equality does appear to promote better economic performance, according to numerous studies.
Last year, the Global Gender report had mentioned that it would take almost 83 years to close the gap.
Women will have to wait 217 years before they earn as much as men and have equal representation in the workplace, research said, revealing the widest gap in nearly a decade.
In recent years, women have made significant progress toward equality in a number of areas such as education and health, with the Nordic countries leading the fray. In economic participation and opportunity, it rose to 114th from 118th due to a narrower income gap.
In the space of just one year, India has nosedived from 87th to 108th on the World Economic Forum's Global Gender Gap Index (GGGI). This year, the economic gender gap, in particular, has dropped to where it was in 2008.
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The estimated time needed to ensure full equality in the workplace meanwhile has jumped from 80 years in 2014 to 170 years last year to 217 years now, according to the report.
Even more than in the workplace, political participation stubbornly lagged behind, with women still accounting for just 23 percent of the world's decision makers, according to the report.
"In 2017, we should not be seeing progress towards gender parity shift into reverse", Saadia Zahidi, WEF head of education, gender and work, said in a statement.
And the situation varies greatly from country to country and region to region.
Women fared better in education globally, where equality could be achieved within 13 years. The country, WEF said, has closed 88 per cent of the gender gap.
Yemen, Pakistan, Syria, Chad and Iran ranked the lowest out of the 144 nations measured in the WEF index.
Although India ranks 15th on the parameter of political empowerment, the report suggests that women need to participate actively in Indian politics to maintain this position.
Both Canada and France saw improvements to their political empowerment measures after Justin Trudeau and Emmanuel Macron added more women in ministerial positions within their governments.
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