Women’s representation in India remains stable, according to the 2024 Avtar & Seramount BCWI-MICI study.
The Banking, Financial Services, and Insurance (BFSI) sector leads with 24.5% of women in leadership roles, followed by the Fast-Moving Consumer Goods (FMCG) sector at 21.5%.
The Information Technology (IT) sector emerges as the largest employer of women, accounting for 24% of companies in the listing, while professional services report nearly gender parity at 46% women representation.
Manufacturing, however, lags with a gender ratio of 20%, despite ongoing efforts to bridge the gap.
This year’s study reveals that 40% of women are represented at the entry-level across industries. FMCG leads in retention with the lowest attrition rate for women in leadership at 2.6%, compared to 7% for men, while Global Capability Centres (GCCs) report the lowest overall attrition rate for women at 10%.
The findings also introduce a new category, ‘Emerging Icons,’ recognising companies with 100-500 employees where women make up 33% of the workforce and 26% are in leadership positions.
In terms of inclusivity, the 6th edition of the ‘Most Inclusive Companies Index’ (MICI) shows a significant increase in organisations focusing on People with Disabilities (PwD), rising from 58% in 2019 to 98% in 2024.
Dr Saundarya Rajesh, Founder and President of Avtar, highlighted the paradox of India’s workforce today, noting that while there have been advancements in women’s participation, there is still a pressing need to improve representation in leadership, as well as safety and well-being, to encourage growth and retention.