As India approaches its centenary of independence in 2047, the vision of building a truly inclusive ecosystem becomes paramount. Despite notable economic progress, significant disparities persist in women’s labour force participation and employment rates. Data from the Periodic Labour Force Survey (PLFS) for July 2023 to June 2024 indicates that the Labour Force Participation Rate (LFPR) for individuals aged 15 and above stands at 60%, with a notable gender gap: 78.8% for males and 41.7% for females. The participation of women in the labour force has increased over the years but is still lower than the global average. The gap highlights persistent structural barriers such as unpaid care work, social norms, lack of formal job opportunities, and workplace safety concerns, among many other factors.
In the closed-door webinars, eminent corporate leaders had a productive discussion in a 2-part series. The dialogue explored what India Inc. needs to do to accelerate women’s labour force participation and build a truly inclusive economic ecosystem by India @100.
The webinar had seven eminent industry experts who shared their views on women at work. Mahrukh Shah, Consultant Partner, IEF and Dr Mukta Datta, Consultant, SHRM, IIM moderated the respective sessions.
When asked about pay parity among men and women at work, Richa Mahendra, Co Creator Abundance, Finesse said, “It’s about bringing more transparency, having regular audits, ensuring disclosure, and ultimately making it about what you are bringing to the table. For the last 8 or 10 years, when you apply for a job in the U.S., they don’t care what you are being paid. They tell you that this is the cost of the job—it could be a 20%, 30%, or even 40% increase. So, for us, understanding the cost of a job is crucial. That’s why there’s this new movement. We have been talking about DEI (Diversity, Equity, and Inclusion) a lot, but now there’s a shift toward merit-based pay. And that is something I strongly support. Let us understand the cost of a job. For example, if the cost of a job is 100 rupees, then establish fair ranking systems and pay accordingly. The key to implementing this is pay transparency. You need regular salary audits. Companies like IBM are also taking the lead in this by defining gender-neutral roles. So, ultimately, it comes down to merit, understanding the cost of a role, and paying people fairly.”
The second expert on the panel who spoke on the subject of government initiatives for women entrepreneurs was Kumkum Aggarwal, CHRO, Vedanta Group. She said, “There are so many schemes right now. If I look at the Mudra Yojana Scheme, it provides loans to women entrepreneurs to help them start and expand their businesses. Then, there’s the Women Entrepreneurship Platform (WEP), which was launched by NITI Aayog. It aims to create an ecosystem for existing or budding women entrepreneurs across India, giving them access to various support services, including funding, mentorship, and market linkages. Another important initiative is the Stand-Up India scheme. It facilitates bank loans ranging between INR 10 lakh and INR 1 crore to at least one woman borrower per bank branch for setting up their greenfield enterprise. There’s also TREAD—the Trade-Related Entrepreneurship Assistance and Development Scheme. This initiative provides financial assistance to women through NGOs and self-employment ventures. While these schemes exist and have been utilised to some extent, I feel there is still a significant gap in awareness, branding, and advertisement”.
Talking about barriers that hinder gender parity, panellist Priya Somaiya, Senior VP, Right Management said, “Coming from my doctoral background in Psychology, I believe that over the years, social stereotypes have not been fully dismantled. Physiologically, it is a fact that the strength of women cannot be compared to men. That’s a fact. However, mentally, emotionally, and spiritually, at the human spirit level, there is complete parity—there is no need for comparison. The only barrier that truly needs to be broken is the social, perceptual, and stereotypical barrier, which is deeply rooted in tradition. I do see this barrier being dismantled in urban areas, which is very encouraging. This is why psychosocial interventions need to be introduced from time to time to change mindsets and perceptions. I don’t know how long it will take—it’s not an easy process. It has to evolve naturally”.
“The gap between urban and rural women is huge. Sometimes, if we haven’t personally experienced something, we don’t fully understand it. Women in urban India, I believe, started working only in the last 30-40 years, particularly after Independence. But when it comes to rural India, women have been working all throughout history. Luckily or unluckily, I have been a part of urban India, so I have witnessed the evolution of women’s roles and the barriers to growth in urban spaces. One of the biggest societal barriers is the guilt that women face when choosing between family and work. This guilt doesn’t just come from society—it comes from our parents, our families, and even ourselves. It’s a product of how we were raised. Another major barrier is the economic barrier—we, as women, have not been educated in financial matters at all. However, at the end of the day, these barriers are man-made. We have created them, and that means we can also dismantle them,” said Meghna Makkar, Founder & MD, Matrix Life.
Speaking about a sharp drop in women in C-suite roles, Anjali Vaishal, AVALS said, “The barriers that exist are not just gaps; they are a vast sea of challenges. If a woman is too assertive or aggressive, she is labelled as “bossy,” but if she is too collaborative, she is seen as someone who lacks leadership qualities. This constant need to strike a balance between assertiveness and cooperation creates an ongoing struggle. Another challenge is what I call the mentorship mirage. While women have mentors who provide guidance, they often lack sponsors—people who actively advocate for their place at the leadership table. Without such sponsorship, career advancement becomes an uphill battle. The idea of workplace flexibility, which became prominent post-COVID, is also flawed. Even though flexible work options are available, women who use them often face penalties, as they are perceived to be less committed to their careers despite delivering the same results. Then, there is the old boys’ club, where leadership teams tend to hire and promote individuals who resemble them in thoughts, actions, and backgrounds, even when studies clearly show that diverse teams perform better, enhance productivity, and improve overall organisational health. These challenges are not abstract—they are real-life experiences I have encountered in my corporate journey”.
Kiran Yadav, CPO, Canara HSBC Life Insurance, also spoke on this subject. She said, “I’ve attended networking sessions outside the office, hoping to expand opportunities, but it’s a tough space. The old boys’ club still exists, making it hard for outsiders, especially women, to break in. It’s isolating—even in top industry events, you can feel like an outsider. On women in leadership, I don’t see numbers declining in the BFSI sector, but they aren’t rising either. Many women are leaving corporate jobs, not to step back but to start their own businesses—something not always captured in surveys. Despite all the talk around diversity, leadership numbers remain stagnant. When I joined my company years ago, I focused on hiring more women at junior levels because leadership needs to be built from the ground up. We’ve grown from 15% to 32% women employees, aiming for 35% by 2025. But challenges remain—flexibility issues, the old boys’ club, and lack of sponsorship. One key issue? Women themselves hesitate to go for bigger roles. Men step up without overthinking, but women often hold back, fearing failure. Leadership won’t be handed on a platter—it’s tough competition. We need to push harder, negotiate better, and take charge of our own growth”.
The last speaker, Niharika Bharajwaj, Head HR, Sammaan Capital, had an insightful take on work-life balance and flexibility. She said, “Across industries like sales, manufacturing, and healthcare, flexibility alone cannot guarantee an increase in the female workforce, as the nature of these jobs makes it difficult. However, tech and consultancy sectors show slightly better gender inclusivity, though they represent a small portion of overall employment. In BFSI and sales-driven organisations, flexibility in roles is rarely an option. Initially, workplace inclusivity efforts focused on ensuring women’s safety, but the focus has now shifted to creating a supportive environment. Companies must actively support upskilling, provide return-to-work opportunities, and address unconscious bias, which remains a major hurdle. Organisations rarely conduct training on unconscious bias, yet it significantly impacts workplace culture by fostering unnecessary differentiation. Tracking gender diversity should be an ongoing process, not just a Women’s Day agenda, to ensure real progress in workplace inclusivity”.
View the entire sessions here:
IEF Webinar #15 Part I | India @100 Vision: Building a Truly Inclusive Ecosystem
IEF Webinar #15 Part II | India @100 Vision: Building a Truly Inclusive Ecosystem
Disclaimer: The opinions and views expressed in this article, including any accompanying data, are the sole responsibility of the author and should not be construed as reflecting the official policy or position of India Employer Forum
