India’s top 500 listed companies continue to have limited representation of women in their senior leadership, with only nine women serving as chief executive officers (CEOs) and 25 as managing directors (MDs), according to data presented by the Ministry of Corporate Affairs in the Lok Sabha on Monday.
The data was provided in response to questions from Trinamool Congress MP Sayani Ghosh, who asked whether the government had assessed women’s representation in senior corporate positions and the barriers affecting their career progression.
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The ministry said there are 67 women executive directors, also referred to as whole-time directors, and 22 women chief financial officers (CFOs) among the top 500 listed companies, categorised by turnover.
Overall, these companies have 860 directors or board members, including 638 independent directors, 738 directors, 25 managing directors, 67 whole-time directors, 18 additional directors and 12 nominee directors.
Across all active companies in India, women account for 11.60 lakh of the 39.99 lakh directors. The country currently has 21.39 lakh active companies and 5.06 lakh active limited liability partnerships (LLPs), while 15.48 lakh companies have been registered during the last decade.
Among prominent women heading major companies are Vibha Padalkar of HDFC Life, Vishakha Mulye of Aditya Birla Capital, Priya Nair of Hindustan Unilever, Praveena Rai of the Multi Commodity Exchange of India, Prabha Narasimhan of Colgate-Palmolive India and Jasleen Kohli of Digit Insurance.
The ministry, however, said it has not conducted any specific assessment of the barriers affecting the progression of women directors.
Under the Companies Act, 2013, every listed company and certain large unlisted public companies must have at least one woman director on their board. The requirement applies to unlisted public companies with paid-up share capital of at least Rs 100 crore or turnover of Rs 300 crore or more.
Any vacancy in the position of a woman director must be filled by the next board meeting or within three months. The law also states that a woman director’s sitting fee cannot be lower than that paid to other directors.
The government also shared data on violations of the statutory requirement. Between 2021-22 and 2025-26, Registrars of Companies passed 50 adjudication orders for non-compliance and imposed penalties totalling Rs 71.01 lakh.
The figures highlight that while regulations have increased women’s presence on corporate boards, their representation in the highest executive positions remains relatively low.
