Women in Power: 11.6 lakh women hold director positions in public & private companies, says govt

Recent Ministry of Corporate Affairs data has shown that the total number of women directors in listed and unlisted public companies as well as private companies has reached 11.6 lakh as of November 30, 2024.

As per a press release dated December 17, 2024, here is the data:

The Corporate Affairs Ministry has taken various measures to encourage women’s participation in decision-making at different levels in companies. The following provisions have been included in the Companies Act, 2013, as per the release:

• Second provision to sub-section (1) of section 149 of the Companies Act, 2013 (Act): Specified classes of companies must have at least one woman director.
• Rule 3 of Companies (Appointment and Qualification of Directors) Rules, 2024: Every listed company and every other public company with a paid-up share capital of ₹100 crore or more or a turnover of ₹300 crore or more must have at least one woman director.

Companies that fail to comply with these provisions are liable for penalties under section 172 of the Companies Act, 2013.

The revelation was made by Harsh Malhotra, Minister of State (MoS), Ministry of Corporate Affairs, in a written reply in Rajya Sabha on Tuesday.

Women Representation in India Inc.

A report by public policy consulting firm The Quantum Hub and the employment-focused social media platform LinkedIn in May this year showed that while overall female representation in India Inc. has increased from 24% in 2016 to 27% in 2024, the percentage of women in senior leadership positions has only increased to 19% from 17% during the same period. The new female leadership hires increased to 23.2% in early 2024 from 18.8% in 2016, peaking at 25.2% in 2021.

Education and government administration services have the highest representation of women in leadership positions at 30% and 29%, respectively. The lowest representation is construction, oil, gas, mining and utilities at 11% and wholesale and manufacturing at 12%. Furthermore, accommodation and food services stood at 15%, as per the report.