Top 500 NSE-listed cos have 18% women directors

New Delhi: Gender diversity in boardrooms is picking up, though at a slower pace, with women accounting for nearly 18 per cent of the directorships in the top 500 NSE-listed companies at the end of March this year, according to a study. In the study titled ‘Corporate India: Women on boards’, proxy advisory firm Institutional Investor Advisory Services (IiAS) on Tuesday said that at a global level, boardroom diversity continues to improve with an average of almost 24 per cent female representation in corporate boardrooms. “India also has progressed in appointing women on company boards; from 6 per cent in 2014 to 14 per cent five years ago.

Women now account for 17.6 per cent of directorships of the Nifty-500 companies. “Although the number of women directorships is increasing, the pace of new appointments has faltered with just an aggregate 1 per cent increase over the last three years. Based on these current rates, India will take till 2058 to achieve 30 per cent gender diversity on boards,” it said. At the end of March this year, the Nifty-500 companies had 4,694 directorships, out of which 827 or 17.6 per cent were held by women.

According to the study — for which IiAS partnered with the Netherlands’ pension provider APG — Europe and North America sit above the global average, with women making up 34.4 per cent and 28.6 per cent of company boards, respectively. Country-wise, France leads the pack at 44.5 per cent women representation on boards in 2021.

“On 31 March 2022, 48.6 per cent of the Nifty-500 companies had two or more women directors on their boards. This is a rise from 45 per cent on 31 March 2021 and 44 per cent on 31 March 2020,” the study said.