A report released on the occasion of International Women's Day said that the share of women in the boards of Indian industry is gradually increasing. The number of women on the boards of directors of Indian companies has gradually increased over the last five years. Deloitte said in a report on Friday that in the year 2023, their stake in the boards of companies was 18.3 percent. Deloitte, in its report titled 'Women on Boards of Directors: A Global Perspective', however, said that this figure is lower than the global average of 23.3 percent. According to PTI news, Deloitte analyzed more than 18,000 companies from 50 countries for its report. 400 companies of India are included in this.

A paradigm shift is needed
According to the news, Deloitte South Asia Chairperson Shefali Goradia said that a paradigm change in the diversity of the board of directors is necessary. Since many companies are looking to bring on board people with CEO or CFO experience, these figures do not reflect an optimistic outlook for the future. Indian companies must break historical trends and prioritize capabilities over past roles. In the year 2023, there were 18.3 percent women on the board of directors, while this figure was 13.8 percent in 2018 and 17.1 percent in 2021.

A strong pipeline of women leaders is necessary
India's numbers are lower than the global average of 23.3 percent. However, compared to the year 2022, it has increased by 3.6 percent. This shows that even if India catches up with the global pace, achieving gender parity on boards will remain a distant goal until a strong pipeline of women leaders is developed. Goradia said that by creatively developing administrative expertise and regularly evaluating progress, a strong pipeline of talented women leaders can be created for a bright future in corporate governance.

Region wise presence of women in boardroom
In India, regional trends paint an optimistic picture for women's representation in the boardroom. The survey saw an increase in the number of women on boards in 2023 compared to 2018 across all sectors examined. According to the report, the life sciences and healthcare sectors top the chart with 21.3 percent women on company boards. This is followed by technology, media and telecom (20.5 percent). Apart from this, manufacturing (5 per cent), consumer business (19.7 per cent), manufacturing (17.4 per cent), and financial services (16.9 per cent) also figure in this chart.