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Number of women in top posts of Government Organizations have declined over the year


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Gender parity in Indian boardrooms continues to be a challenge, with a decline in the number of women occupying key positions in public sector boardrooms over the past year. According to data from primeinfobase.com, as of March 6, only 19% of total directorships in the private sector and 14.3% in the public sector for Nifty 500 companies are held by women.

While there has been a marginal increase in the number of women in private sector directorships, rising from 759 in March 2023 to 799 in 2024, the public sector witnessed a decrease from 85 to 84 directorships during the same period. As a result, the public sector’s share of directorships fell from 14.7% to 14.3%.

The gender disparity extends to board committees as well. Women hold approximately 14% of positions in risk management and over 20% in the nomination and remuneration committee, while men occupy around eight out of 10 board committee positions.

The Companies Act, which came into force in 2014, mandates a 10-year term for independent directors. As companies refresh their boards this year, they will have an opportunity to achieve at least 30% representation of women in boardrooms. Without this, the target of 30% gender diversity in the boardroom will only be met by 2058 at the current pace.

Gender Disparity in the Workforce

The gender disparity in Indian boardrooms reflects a broader issue in the workforce. According to data from the Centre for Monitoring Indian Economy, as of February 2024, only 11.1% of working-age Indian women were employed or seeking employment, compared to a 68.1% labor force participation rate for men.

Global Perspective on Gender Parity in Boardrooms

Gender diversity in boardrooms is a global issue. According to Deloitte Global Boardroom Program’s Women in the Boardroom report, women hold just 16.9% of board seats globally. The report also highlights that the current rate of progress suggests it will take more than three decades to achieve gender parity in the boardroom.

Steps to Achieve Gender Parity in Boardrooms

To achieve gender parity in boardrooms, clear steps can be taken by governments and the private sector. These steps include implementing regulations, pushing for greater gender diversity, and building a robust leadership pipeline. It is important for organizations to address the issue of gender disparity at all levels, from including equal numbers of women at the fresher level to retaining women through key life stages such as maternity and caregiving.

Conclusion

Gender parity in Indian boardrooms remains elusive, with a decline in the number of women occupying key positions in public sector boardrooms. The gender disparity extends to board committees as well. Achieving gender diversity in boardrooms requires concerted efforts from companies, governments, and society as a whole. By implementing regulations, promoting gender diversity, and building a robust leadership pipeline, progress can be made towards achieving gender parity in boardrooms.

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