Women Only Make 1.6% of 'Fortune India 500' List

By: WE Staff | Wednesday, 6 March 2024

In support of the Ministry of Women and Child Development, India, and the Bill and Melinda Gates Foundation, research was conducted by Fortune India and the SP Jain Institute of Management and Research titled 'Enhancing Women Leadership in India Inc.' The study mentions that the Fortune India 500 list only includes 1.6 per cent of women leaders, while the Next 500 has listed only 5 per cent of women leaders.

Several persisting challenges restrict women including marriage, family responsibilities, maternity leaves, and work-life balance. Around 30 to 40 per cent of female employees face such obstacles that put a significant drop in middle management as they progress in their careers.

The research suggests addressing the gender gap in hiring by setting gender-specific hiring mandates and addressing the fear of paid maternity leave in mid-management roles, which many organizations struggle to afford due to financial constraints. By addressing these biases, firms can promote an inclusive environment, enabling more women to take on leadership roles in corporate India even after taking a career break due to any challenge.

The study indicates a need for more women in leadership roles, despite an increase in women on boards from 8 per cent to 17 per cent. It recommends corporate tax reduction, flexible work hours, late-night commute policies, and support for women's access to local care facilities.