What does it take to ‘Inspire Inclusion’ in India Inc?
As India gets poised to be come a $5 trillion economy, women would undoubtedly have a key role to play, and India Inc cannot shy away from fostering an ecosystem where women thrive without inhibitions.
In my entrepreneurial journey spanning different industries I have been witness to occasions of bias, under representation, and an outright absence of women’s perspective in board rooms. As India gets poised to be come a $5 trillion economy, women would undoubtedly have a key role to play, and India Inc cannot shy away from fostering an ecosystem where women thrive without inhibitions.
Let’s start with startups
In 2023 amidst the funding winter, Indian startups raised $10 billion. The share of funding by Women led startups was just 5%; much lower than the 10% share they were able to grab in 2022. This shows that when the going gets tough, women led startups face even more difficulties to raise funds and points to a clear need of women focused funds that provide increased access to capital to such startups.
Parliament, paving the way
Recent developments including the Women Reservation Act that allocates 1/3rd of seats in Lok Sabha and State assemblies is a welcome move. This representation of women in policymakers is bound to have a trickledown effect and result in having women centric policies that would enhance women participation in workforce over the next few decades. On similar lines, there is a strong need for India Inc to relook at the women representation on their cap table in addition to representation in CXO roles to foster a women friendly ecosystem.
Inclusion begins at home
Growing up in Alwar, Rajasthan, my sisters and I experienced a world vastly different. It was a time when societal norms steered women towards homemaking, not boardrooms. Yet, my family defied those norms. Our parents nurtured our aspirations without an ounce of doubt, creating an environment where our capabilities were explored and celebrated. This spirit of inclusion needs to be replicated – in families, workplaces, and across society.
Beyond women – towards gender parity
True inclusion goes beyond just empowering women. We need gender-neutral roles, job descriptions, and pay. Every individual, regardless of gender, deserves equal opportunities for training, skill development, and mentorship.
The road to inclusion is a marathon, not a sprint. By prioritising leadership commitment, investing in the right programs, and fostering a culture of belonging, India Inc. can unlock the potential of its entire workforce and propel us towards that $5 trillion dream – a dream fuelled by the power of all.
(By Meghna Agarwal, Co-founder, IndiQube, Co-Founder, HirePro Consulting and Co-Founder, UltraFine Minerals)
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)