Report Shows 18% Rise In Women’s Representation In Indian Boardrooms. But Only Because Laws Demand It. Sigh!
There is no denying that the schemes and laws passed by the Indian government have encouraged and empowered a lot of women in the country – especially those in the business sectors. But when data is collected and an increase is seen in leading positions, it should not be assumed that we are progressing and things are getting better for women. Just look at the recent data that was collected. According to the latest report, the recent data collected shows that the representation of women on boards of companies in India during the last ten years has increased up to 18%. However, there are less than 5% of companies have women as chairpersons.
EY, a leading consultancy, released a report titled Diversity in the Boardroom: progress and the way forward showed that women’s representation on boards in India has increased from 6% (in 2013) to 18% (in 2022). Having said that, it is still far behind France (which is leading with 44.5%), Sweden (40%), Norway (36.4%), Canada (35.4%), and others.
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The findings of the report are based on the analysis of Nifty 500 companies that consist of 4,500 directors and public source data. While revealing the representation of women in boardrooms in India, the report also noted that there is a specific increase because there is a corporate law mandate in the country.
The data collected also highlighted that though India is moving towards board diversity, the pace is rather slow. And the progress that can be seen is because of the regulatory interventions that exist. Having said that, the report also showed a shift from women being given positions only in Corporate Social Responsibility (CSR) committees to other positions.
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Aashish Kasad, the EY India Region Diversity and Inclusiveness Business Sponsor, said, “Women’s participation in the boardroom is a necessary but often overlooked step in achieving gender parity. Increasing women’s representation on boards can improve company performance and also helps to promote greater inclusion and diversity within the workforce.”
Ngl, there is a change that is coming in the business sectors with women breaking the glass ceiling and taking up leadership positions. But there is no denying that some of it are because of the corporate laws that are put in place. There is a lot that needs to be done in the corporate sector in India.
