Active Stocks
Fri Sep 22 2023 15:58:38
  1. Tata Steel share price
  2. 126.7 -0.86%
  1. HDFC Bank share price
  2. 1,529.2 -1.57%
  1. State Bank Of India share price
  2. 598.1 1.67%
  1. Power Grid Corporation Of India share price
  2. 199.1 -1.34%
  1. Tata Motors share price
  2. 621.1 -0.93%
Business News/ Companies / News/  Most women of 31-45 age in board rooms led by men

NEW DELHI : When it comes to breaking the glass ceiling in board rooms, women in the 31-45 age group appear to have a better chance than those younger or older. An examination of corporate affairs ministry data also shows that India’s board rooms remain male bastions overall, with women accounting for less than a third of directors. The data is based on director identification numbers (DINs) issued by the corporate affairs ministry, a key requirement for individuals to take up board positions. During the first nine months of this financial year, the ministry issued 281,920 DINs.

For every two males who secured DINs during the period, there was one female who secured the identification requirement in the 31-45 age group. In the case of 18-30 age group, for every three males, there was one female, while in the 46-60 age group, males were more than twice the number of women securing DINs. In the 60-plus age group, female participation further tapers off. In this category, for every female, there were two-three males getting the requisite identification.

DIN is a number allotted to directors of companies and is used to identify them in all statutory filings. These directors have to file their know-your-customer (KYC) details every year with the ministry by the end of April, including personal mobile numbers and personal emails, as the government keeps an oversight of those taking decisions on behalf of companies.

View Full Image
Chart (Mint)

“Younger women, no matter accomplishments, are not often approached for directorship on publicly listed companies. Also, one of the problems, well substantiated, is that women entrepreneurs find it much harder to raise finance," said Rishi Agarwal, managing director and head, Asia at consultancy firm FSG. The low level of female participation in economic activity and entrepreneurship shows that the country has a lot of ground to cover. Data from the Income Tax department shows that up to 2019, among the more than 435 million persons who were issued Permanent Account Number , which is needed for a host of financial transactions, only 37% were women. Also, of the 60.8 million micro, small and medium enterprises, which are proprietory concerns, only about 20% are owned by women, the Centre said in a 2022-23 report.

Bringing women into the economic mainstream has been a priority for the government with the political leadership emphasizing on education of the girl child. Improving gender equity is one of India’s commitments as part of meeting the United Nations’ sustainable development goals (SDGs) adopted in 2015 and to be achieved by 2030.

Ensuring women’s full and effective participation and equal opportunities for leadership at all levels of decision making in political, economic and public life is an SDG goal.

The Companies Act, 2013 mandates that a company should have at least one woman director, a policy signal which has been a key contributor to improvements made in gender disparity in recent years.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Gireesh Chandra Prasad
Gireesh has over 22 years of experience in business journalism covering diverse aspects of the economy, including finance, taxation, energy, aviation, corporate and bankruptcy laws, accounting and auditing.
Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 18 Feb 2023, 06:09 AM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App