The number of women directors in active corporate companies across India has more than tripled over the past decade, Union Finance Minister Nirmala Sitharaman said during an event on Wednesday. Tamil Nadu, in particular, saw a four-fold increase in women holding directorship positions, reflecting the growing role of women in corporate governance.
Speaking at a conference on “Women Rising – The Unseen Barriers in Power, Politics, and Otherwise,” organized by FICCI-FLO Chennai Chapter, Sitharaman attributed this rise to the government’s continuous efforts in empowering women across various sectors. “At the all-India level, there are 8.83 lakh women directors associated with active companies as of August 2024, up 3.4 times from 2.58 lakh in 2014,” she said. Tamil Nadu witnessed an even more significant increase, with women directors growing from 15,550 in 2014 to 68,000 by August 2024—a 4.3 times surge.
Sitharaman noted that women are also making strides in the startup ecosystem, with approximately 18% of India’s 111 unicorns (startups valued at over $1 billion) being led by women, further demonstrating their rising influence in the business landscape.
She emphasized the government’s commitment to gender equality, noting that the Prime Minister Narendra Modi-led administration has consistently promoted women’s participation in all sectors. This focus is visible in the government’s budget allocations, where funds for women’s welfare and empowerment have nearly tripled since FY2014, from ₹97,134 crore to ₹3.10 lakh crore in the FY2025 budget. “Over the years, the element of women-centricity in government initiatives has been rising, as seen in the expanding gender budget,” she added.
Citing a Deloitte study, the Finance Minister also pointed out that women directors on the boards of Nifty 50 companies have increased from 18% in 2019 to 22% in 2024, showcasing a positive trend in corporate governance.
Sitharaman also highlighted women’s growing presence in critical sectors such as defence and national security. Women are now allowed in combat roles across all three armed forces, with the Navy opening various cadres to women from June 2023. Additionally, recruitment in the Indian Air Force (IAF) has become gender-neutral, inducting women into all branches and streams.
