India Sees More Women Representation In Board Rooms But Growth Is Slow
There has been a push to increase women’s representation on the corporate boards across the country over the years but the growth has been slow.
New Delhi: The representation of women on the boards of listed companies in the country has seen a steady rise in the last few years, according to government data. There has been a push to increase gender diversity on the boards through various stakeholders in the companies across the country over the years but the growth has been slow.
Slow Growth Of Women Representation In Corporate Boardrooms In India
Around 3,232 listed companies in India had 4,741 women directors on the board at the end of FY23, as per the data from the Union Ministry of Corporate Affairs, according to a report by Mint. By the end of FY21, listed companies had 4,187 women directors while 4,054 women directors were there till FY20. By the end of financial year 2020, there were 3,941 women directors on the listed companies.
We are still behind in bridging the vast gap of gender diversity in the corporate boardrooms as there are 35 listed companies in the country that have no women directors on their boards, according to the official data.
However, there are 33 listed companies that have the majority of women on their boardrooms. Around 30 per cent of women account for directorship roles in 618 listed companies.
Earlier, a report released by EY showed India increasing women representation on boards from six per cent in 2013 to 18 per cent in 2022. “18 per cent female representation on Indian boards is essentially a result of the Indian corporate law mandate,” the report stated.
According to the report, nearly 95 per cent of the NIFTY 500 companies now have a woman on the board of directors. However, less than five per cent of companies have female chairpersons, so there is still room for improvement.
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