The average representation of women in the Indian corporate has remained stagnant over the past two years, currently at 36.6 per cent, down slightly from 36.9 per cent last year, according to a recent study released on Thursday. The “Best Companies for Women in India (BCWI) study,” conducted by Avtar and Seramount, highlights a significant increase in women’s representation, which rose from 25 per cent in 2016 to 33 per cent in 2019. However, this progress slowed during the COVID-19 pandemic.
In 2020, women’s representation in India Inc. was 34 per cent, followed by 34.5 per cent in 2021 and 34.8 per cent in 2022. These figures were gathered from an analysis of 110 companies recognised as the “Best Companies for Women.”
Notably, the study revealed that women’s representation was nearly 40 per cent at the entry-level, showcasing a strong presence among new hires. However, this percentage dropped significantly to 28.4 per cent in managerial positions, indicating a gap in advancement opportunities for women within the workforce.
The research also highlighted that the information technology (IT) sector had the highest concentration of companies recognised as “Best for Women,” with 24 per cent of the total coming from this industry. Following the IT sector, 11 per cent of these companies were in banking, financial services, and insurance, while both manufacturing and global capability centres (GCCs) accounted for 9 per cent each. This underscores the varying levels of female representation across different industries and the need for continued efforts to promote gender equality in the workplace.
Sectors such as professional services are approaching a more balanced gender ratio, with women’s representation reaching 46 per cent. In contrast, the manufacturing sector lags significantly behind, reporting only 20 per cent female representation.
Interestingly, 63 per cent of the companies recognised as the “Best Companies for Women” are multinational corporations, while the remaining 37 per cent are Indian companies. This disparity highlights the influence of multinational firms in promoting gender diversity and inclusion.
Commenting on the findings, Saundarya Rajesh, founder-president of Avtar, said, “These numbers are encouraging, but they also underscore that there is much more to be done. The road ahead is filled with opportunities, and the progress we’ve seen from participating companies inspires us to keep pushing the envelope on what is possible.”
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