The representation of women on boards of companies in India during the last ten years sped up to 18 percent in 2022, but the country is still lagging behind France, Sweden, the US, and the UK, according to a report. From 2013 to 2022, India made noteworthy and rapid progress in increasing women’s representation on boards from 6 percent in 2013 to 18 percent in 2022, leading consultancy EY’s report titled ‘Diversity in the Boardroom: progress and the way forward”, said.
France stood at the number one position with 44.5 percent women representation on companies’ boards, followed by Sweden (40 percent), Norway (36.4 percent), Canada (35.4 percent), the UK (35.3 percent), Australia (33.5 percent), US (28.1 percent), Singapore (20.1 percent), as per the report.
The findings for India are based on a detailed survey of Nifty 500 companies comprising 4,500 directors and public source data.
The report noted that the current 18 percent women representation on Indian boards is mainly due to a result of the corporate law mandate in the country.
Nearly 95 percent of the Nifty 500 companies now have a woman on their boards of directors. However, not even 5 percent of companies have women chairpersons, it noted.