The FICCI Ladies Organization (FLO), India's apex businesswoman organization, advocates for increased opportunities for women in corporate board rooms, including at least one independent women director, to establish a more balanced and inclusive business climate in India.
FLO recently organized a "workshop on Women in Corporate Boards" where Ms. Sudha Shivkumar, National President, FICCI Ladies Organization (FLO) mentioned, that India's corporate sector has seen rapid progress in increasing women's representation on boards, from 6 per cent in 2013 to 18 per cent in 2022, aiming to create a more balanced and inclusive business environment. SEBI also known as the Securities and Exchange Board of India has imposed gender diversity disclosures and the appointment of at least one independent woman director as part of its Business Responsibility Reporting requirements.
She further said that gender diversity in corporate boards is not only social Justice but also a smart business strategy, promoting better decision-making innovation, and improved reputation, which directly leads to improved financial performance and sustainability.
FLO has signed an MoU with Grant Thornton Bharat LLP to promote women directors in corporate boards, facilitate candidate placement, and provide training and resume creation.
Dr. S. Raghunath is a strategy professor at the Indian Institute of Management in Bangalore. The workshop's main speakers included Prof. Chetan Subramanian, RBI Chair Professor in Economics, Indian Institute of Management Bangalore. Among those in attendance were Suguna Ravichandran, a Governing Body Member and the National Head of the FWD Initiative, as well as Mr. Rahul Kumar, Director & Partner of Grant Thornton Bharat LLP.
