Women’s share in corporate executive roles slips to 16.7%: Avtar-Seramount study

Women’s march into India Inc’s corner offices has had a momentary blip this year, according to a study by Avtar Career Creators Ltd in partnership with US-based workforce research and advisory firm Seramount.

The 11th edition of the Best Companies for Women in India (BCWI) study, women now hold only 16.7% of corporate executive roles among Best Companies, down from 20% in 2025.

Overall women’s representation among Best Companies dropped to 34.6% this year, down from 35.7% in 2025. The Top 10 companies, however, remained relatively resilient, with women making up 42.8% of their workforce.

After 11 years of tracking women’s participation and advancement at work, the latest findings point to a worrying reversal: progress in gender diversity, particularly at senior levels, cannot be assumed to be linear or permanent.

A total of 387 companies participated in the study this year, and 125 made the Best Companies list. The participating organisations span a diverse range of industries. Of the Best Companies, 37% are Indian companies and 63% are MNCs. 

The Top 10 Avtar & Seramount Best Companies for Women in India for 2026 (listed alphabetically)

• Accenture Solutions Private Limited
• AXA XL India Business Services Pvt. Ltd.
• Barclays
• EY
• HDFC Life Insurance Company Limited
• Lear Corporation
• Procter & Gamble India
• Tech Mahindra Limited
• TVS Motor Company Ltd
• Vedanta Oil and Gas Limited

According to the study, professional services continues to lead, with women making up 45.6% of the workforce, followed by ITES at 39.8% and the GCC (global capability centre) sector at 38.1%. On the other hand, the pharmaceutical sector dropped to 17.3% this year from 24.6% in 2025, while manufacturing continued to lag at 13.1%. 

The study outlines the reasons why women and men leave organisations. While attrition rates among women and men at Best Companies are identical at 20.4%, better job opportunities remain the top reason for quitting, cited by 89% of women and 93% of men.

Interestingly, health and wellbeing challenges now rank above childcare responsibilities as a reason for women leaving, at 30% versus 28%. 

The business case for inclusion remains strong despite the dip in women’s representation and advancement. Among Best Companies, 79.2% reported an increase in operating profit linked to inclusive practices, up from 70% in 2025. Among the Top 10, the figure rose even more sharply, from 60% to 80%.

The findings highlight that among Best Companies headquartered in India, women stand at 31.4%, notably lower than at US-headquartered (41.1%) and other foreign-headquartered (39.2%) companies operating in India, with the gap widening further up the ladder, where women hold just 14.2% of Corporate Executive roles versus 18% and 20% respectively. 

However, Indian companies seem to be leading the way in career-break support.

83% have formal second-career hiring programmes, well ahead of US (70%) and other-country (60%) headquartered firms. 

Within India itself, women’s representation is strongest in South Indian metros: Bengaluru (41.1%), Chennai (39.1%) and Hyderabad (38.9%), while Delhi-NCR lags at just 28.5%, nearly 12 percentage points below the highest-performing city.

This Year, Avtar has introduced the Best Companies for Workplace Wellness (BCWW) study in partnership with Seramount, recognising organisations that embed employee wellbeing into workplace culture through psychological safety, manager capability and access to support. A total of 116 companies participated in the inaugural study.

The findings point to a growing focus on workplace wellness. All BCWW-recognised companies offer confidential wellness support without requiring manager approval. Among the Top 10, such support extends beyond corporate employees, reaching 90% of contract staff and 100% of frontline and field employees.

Avtar’s 8th edition of the Most Inclusive Companies Index (MICI) tracks organisational efforts across gender, PwD, LGBTQ+, generational and regional/cultural diversity. Gender remains a universal priority, with 100% of companies reporting a focus on it.

Generational diversity recorded the biggest increase, rising from 86% in 2025 to 92% this year, while regional and cultural diversity grew from 77% to 83%. The focus on PwD declined marginally to 98%, but remains significantly higher than the 58% recorded in 2019. LGBTQ+ focus also eased to 92% from 95% last year.

The second edition of Avtar’s Best Companies for ESG (BCESG) study has expanded to include a full Best Companies list alongside its Top 10. Energy efficiency remains the most widely adopted sustainability strategy, reported by 100% of the Top 10 and 97% of Best Companies, while solar adoption remained at 80% among the Top 10.

At a press conference to announce the study results, Dr Saundarya Rajesh, Managing Director, Avtar Group, said. “This year’s numbers remind us that progress on inclusion isn’t linear. Even as women’s representation slips at the senior-most levels, India Inc's underlying commitment remains strong, with companies reporting a stronger link between inclusion and business performance.”

Subha V. Barry, President, Seramount, said, “I am proud of the progress we’ve seen through BCWI and of the commitment organisations have shown to advancing women. As we look beyond 2026, our focus must be on turning strong practices into stronger outcomes: more women advancing, greater mobility, and stronger pipelines of women leaders. There is much to celebrate, and even more we can accomplish together.”