Thu Dec 19 13:50:35 UTC 2024: ## Indian Companies Lag in Gender Equality Despite Diversity Efforts: Report

**Mumbai, India** – A new report reveals a significant gender gap in Indian corporate leadership, despite companies’ stated commitment to diversity. The “Mind the Gender Gap” report, compiled by CFA Institute and CFA Society India, analyzed data from 300 Indian companies using their Business Responsibility and Sustainability Report (BRSR) disclosures.

The study found that women represent less than 20% of the overall workforce and just over 10% of key managerial personnel (KMP) positions. Female representation on boards of directors is also low, at under 20%. Furthermore, the report highlights a stark gender pay gap, with female directors earning only 44% and female KMPs earning less than 25% of their male counterparts’ median salaries.

While the IT sector shows the highest percentage of female employees (34%), other sectors lag significantly, with the utilities sector reporting the lowest at just 4%. Although some sectors like Real Estate and Information Technology exhibit more equitable gender distribution on boards, Financial Services and Energy sectors show the greatest disparity.

Arati Porwal, CFA Institute Country Head, India, stressed the urgent need for stronger gender equality initiatives. She emphasized that diverse leadership teams lead to greater innovation and improved financial performance. Porwal highlighted the need for companies to foster inclusive cultures that attract and retain female talent and ensure fair compensation.

Rajesh Sehgal, CFA Chairperson of CFA Society India, echoed these sentiments, urging Corporate India to implement meaningful strategies to retain women and address the significant pay gap. Both emphasized the importance of creating more diverse and inclusive workplaces for women and other underrepresented groups. The report underscores the need for both corporate action and policy changes to effectively address this persistent gender imbalance.

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