Women constitute nearly half of the world's populace and their contribution towards a country's economic growth is a must. However, the reality is far from it. Women are a minority when it comes to the corporate world and more so when top management and C-suite designations are concerned. Finance related roles still remain an uphill battle for being gender balanced.
However, India has fared better than its global counterparts in terms of women's representation in the C-suite. A study by Grand Thornton pegged India at the third spot in terms of representation of women in management roles. While the global average of women CFOs in 36 percent, according to the study Indian firms had 41 percent of females leading the role of a CFO.
Although the Indian financial services sector has made splendid strides in the direction of a gender-balanced workforce within the last decade or so, there's nevertheless a long way to go. Reports do suggest that the number of female executives in finance is expected to grow over the next few years.
Another important conversation for the world to have is women and their relationship with finance. In the Indian context, there exists an interesting contradiction; the Hindu goddess of wealth is Goddess Laxmi, however Indian women still lag behind as far as financial literacy is concerned.
India is home to a plethora of women who do not make their own financial decisions. While the number of working women has been on the rise, yet the financial decision-making rests mostly with men. While the matriarch of the family manages the everyday household budgets yet they do not often enjoy financial independence.
Women by virtue, are prudent decision makers and managers which helps them make tough choices. Financial matters are no different.
The current edition of Women Entrepreneur India features a host of such Indian women CFOs who are taking the finance industry by storm and handholding their respective organizations towards success. Read on to delve deep into their inspirational professional journeys.
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