THE ROLE OF WOMEN'S LEADERSHIP IN INDIA'S PROGRESS

Regulations have helped foster an environment where diversity is ingrained in corporate culture

BY SWATI PIRAMAL VICE CHAIRPERSON, PIRAMAL GROUP

IN TODAY'S EVER-EVOLVING corporate realm, the call for diversity and equality has transformed from an echoing desire to an essential mandate. Though there has been a noticeable change, the quest for fair representation in corporate settings is at a critical juncture and needs urgent attention.

India's journey towards gender diversity in the corporate realm, as delineated in the EY report titled 'Diversity in the Boardroom: Progress and the Way Forward,' is a testament to this transformative path. The rise from a mere 6 per cent representation of women in boardrooms in 2013 to 18 per cent currently demonstrates a significant dedication to diversity and inclusion in the business world.

Women's increased representation in boardrooms is not just a statistical triumph but also a cultural and systemic shift. It signifies a change in the narrative, a redefining of traditional paradigms that have long governed the corporate world. While these positive developments are encouraging, they also highlight the complex nature of the challenges that still need to be overcome. Beyond the numbers, the depth of representation, the inclusion of women in decision-making, and the transformation of workplace culture are ongoing pursuits.

REGULATORY MEASURES

The paradigm shift in India's corporate gender diversity is also due to the regulatory framework, particularly the pivotal role played by the Companies Act, 2013. It mandated the inclusion of at least one female director on certain categories of corporate boards, driving a significant evolution in gender inclusivity within corporate leadership.