India hopeful for more women leaders in the future

Where most people feel that government intervention will change the absence of women at top levels in the companies, some successful women leaders like Kiran Mazumdar Shaw believe that women themselves will have to make bolder decisions to get ahead.

In the last10 years there has just been a 5% increase in the number of women in senior positions. According to a study by Grant Thompson, the percentage of these women in India has gone down since last year. Where in 2013, the number of women in leading roles was 19% in the country, this year it came down to a 14%. On the other hand, globally the percentage has stayed the same. In 2007, 2009, 2013 and 2014 the figures uniformly stated that 24% women were positioned at high levels worldwide.

On a positive note, the Indian women can hope for some relief now since currently, 64% of Indian companies are currently supporting quotas for women on executive boards of listed companies; compared to 44% last year. An International Women’s day report observed, “women are signing up for college in increasing numbers — globally, the ratio of women to men in tertiary education is 108 to 100 — this doesn’t appear to be translating into better, or better-paid, jobs for women. One reason for this may be that women are not studying the subjects that are likely to lead to senior management positions.”

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The New Companies Act 2013, which states that most companies need to have at least one woman and two independent directors, has further safeguarded at least a few positions for women at higher levels. Many companies, including the accounting regulator of the Institute of Chartered Accountants of India, are currently grooming women employees for leadership roles. With the initiation of women into the circuit, one can hope that soon the numbers will begin to increase.

ORIGINAL SOURCE: The Indian Express

http://indianexpress.com/article/business/business-others/india-inc-starts-grooming-women-for-boardroom-roles/