Indian women are making significant strides in the corporate sector, leading around 18 per cent of the 111 unicorns valued at $1 billion in the startup and fintech industries, according to Union Finance Minister Nirmala Sitharaman.
Speaking at a conference organised by the FICCI-FLO Chennai Chapter in Chennai, Sitharaman highlighted a substantial increase in the number of women directors in active corporate companies over the past decade.
The number of women directors has surged from 258,000 in 2014 to 883,000 by August 2024, marking a more than 3.4-fold increase. In Tamil Nadu, the figure has grown 4.3 times, rising from 15,550 in 2014 to 68,000 in August 2024.
Sitharaman attributed these advancements to the efforts of the Prime Minister Narendra Modi-led government to enhance women's participation across various sectors.
She noted that recent Union Budget allocations for women’s empowerment schemes have increased significantly, from ₹97,134 crore in FY2014 to ₹3.10 lakh crore in the FY2025 budget.
Additionally, Sitharaman cited a Deloitte study showing that the proportion of women directors on the boards of Nifty 50 companies has risen from 18 per cent in 2019 to 22 per cent.
Beyond corporate achievements, Sitharaman mentioned that women are now permitted in combat roles across all three armed forces.
She revealed that the Navy began inducting women into various cadet positions in June 2023, and the Indian Air Force has adopted gender-neutral recruitment for all branches and streams.
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