The report shows women in the world earn less not just because of gendered salary differences, but because women are more likely to do unpaid or part-time work than men.
It is the first time that data from the World Economic Forum (WEF) has shown a year-on-year worsening of the gender gap since it began charting it in 2006.
Even as giving credit to Indira Gandhi for pushing the country towards political empowerment, the report notes, "With more than 50 years having passed since the inauguration of the nation's first female prime minister in 1966, maintaining its global top 20 ranking on the Political Empowerment subindex will require India to make progress on this dimension with a new generation of female political leadership".
Canada ranks first among all countries for educational attainment.
It ranked 7th among 155 countries in the political empowerment category but performed worst in economic participation and opportunity with in which it now ranks 129th.
Women also generally tend to work in lower-paid professions and are less likely to be in highly-paid senior roles in companies. India continues to rank fourth-lowest in the world on health and survival parameters, thus remaining the world's least-improved country on this sub-index over the past decade, as per the report.
The current rate indicates that the global gender gap will take 100 years to close, compared to 83 last year. The 2017 report covers 144 major and emerging economies.
Behind the decline is mainly a widening of the gender gap across Economic Opportunity and Political Empowerment.
Nicaragua, Slovenia, Ireland, New Zealand and the Philippines also made the top 10 on the Global Gender Gap rankings.
The report measures gender inequality gaps on an annual basis in 144 countries in namely four fields: economic participation and opportunity, education access, political empowerment, and health and survival.
"According to the report out of the 142 countries covered by the Index both this year and last year, 82 countries have increased their overall gender gap score compared to last year, while 60 have seen it decrease".