Corporate India's number of women in position of power and money 'abysmal': Smriti Irani

Union Minister for Women and Child Development Smriti Irani on Friday said that even though one would like to believe that the corporate sector has taken strides in gender equity, the numbers tell a different story. “In terms of the entry level, yes the numbers are surging. That is not because they are women only, but they are productive for the organisation that hire them. But in positions which involve power and money, that is where the advancement is a bit stagnated. The numbers are abysmal,” Irani said at Fortune India Most Powerful Women in Business awards ceremony in Mumbai, where she also unveiled Fortune India – SPJIMR White Paper, Enhancing Women Leadership In India Inc.

The White Paper prepared in collaboration with SPJIMR points out that barely 1.6% of Fortune 500 companies in India have women MDs and CEOs. In The Next 500, a ranking of emerging companies, the number is slightly higher at 5% but overall, for the Fortune 1000 India companies, only 3.2% are led by women MD/CEOs, the White Paper reveals.