Updated March 5th, 2024 at 20:36 IST

Only 1.6% companies listed on Fortune India 500 have women leaders

The study rejects the idea of quotas but suggests actionable solutions to bridge the gender gap, including tax rebates.

Reported by: Business Desk
Women CEO | Image:Pixabay
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Women in leadership role: A joint study conducted by Fortune India and the SP Jain Institute of Management and Research showed a major gender gap in leadership roles within Indian industries. The study, named 'Enhancing Women Leadership in India Inc,' shows that a mere 1.6 per cent of companies listed on the Fortune India 500 list have women in leadership positions, while the figure slightly improves to 5 per cent for the Fortune India Next 500.

The study, supported by the Women and Child Development Ministry and the Bill and Melinda Gates Foundation, underscores the industry's acknowledgment of gender inequality and the need for measures to boost women's leadership.

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Despite advancements in various sectors, the study emphasises the reality that only a small percentage of companies are led by women MDs/CEOs across different tiers of corporate India.

The study identifies several root causes contributing to this gender disparity, including the 'leaky pipeline' phenomenon, where women often exit the workforce upon entering middle management due to familial responsibilities.

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Additionally, inherent biases in the corporate mindset and stereotypes regarding women's commitment, willingness to relocate, or capability to handle P&L roles further exacerbate the problem.

The study rejects the idea of quotas but suggests actionable solutions to bridge the gender gap, including tax rebates, enhanced corporate disclosures on diversity, increasing women's representation on boards, fostering a culture of sponsorship, and introducing gender-specific hiring mandates.

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With PTI Inputs

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Published March 5th, 2024 at 18:30 IST