Women’s participation in India’s corporate workforce is steadily improving, but progress remains uneven. Despite the Companies Act of 2013, which aimed to enhance gender diversity and leadership on corporate boards, women’s representation has only increased from 6% in 2013 to 18.3% in 2023. The Avtar BCWI Study 2025, which identifies the Best Companies for Women in India, reveals that women now hold 20% of leadership positions, which is the highest in a decade.
The Fortune India-SPJIMR study on ‘Enhancing Women Leadership in India Inc.’ finds that only 1.6% of India’s Fortune 500 companies have women MDs or CEOs. In the Next 500, which ranks emerging companies, the figure rises slightly to 5%. Across all Fortune 1000 companies in India, just 3.2% have women as MDs or CEOs.
The latest Economic Graph report from LinkedIn and The Quantum Hub shows that women’s representation in India Inc. has grown from 24% in 2016 to 27% in 2024. However, the pace of promoting women to senior leadership roles remains slow, rising only from 17% to 19% during the same period. Meanwhile, Avtar, a workplace culture and inclusion consulting firm, released the 10th edition of the Best Companies for Women in India (BCWI) list. It reports a positive change. For the first time, women now hold 20% of leadership positions.
Women’s representation in Indian workplaces: Insights from Avtar BCWI study 2025
The Best Companies for Women in India (BCWI) 2025 study, conducted by Avtar and Seramount, reported that women now hold 20% of leadership positions, up from 13% in 2016. The pharmaceutical sector has the highest representation, with women forming 25% of C-suite leaders, followed by global capability centres at 22%.
When looking at the overall workforce participation, the professional services sector (including financial consulting and M&A) has the highest share of women employees at 45%, while IT-enabled services are at 42%. Across all the participating companies in the study, women make up 35.7% of the workforce. Professional services (44.6%), ITES (41.7%), and pharmaceuticals (25%) exhibit comparatively better representation of women. Manufacturing, however, remains low at 12%, indicating the need for increased diversity efforts in that sector.
Overall, one out of every three employees in Indian companies is a woman.
Hiring trends and retention: Where women stand in corporate India
While women’s overall representation has improved more now than before, the rate at which companies are hiring women has not changed much in the last three years. For the past three years, only 38% of new hires have been women.
Sectors such as the GCC, professional services, and IT-enabled services hire more women, over 40%, because these fields offer flexible roles and skill-based jobs. Pharma and FMCG are improving, with women making up more than 30% of new hires, as these industries now focus on diversity programs. Manufacturing still struggles, with hiring rates of only 19% women, mainly due to its labour-intensive and male-dominated work culture. In Science and engineering, women hold 46% of leadership roles, indicating that higher education and specialised skills help women advance more quickly in these fields.
Avtar’s findings also show that men and women now leave their jobs at almost the same rate, with an average turnover of 20%. This means companies are creating workplaces where women are staying as long as men, which is a positive sign for gender equality. In the top 10 companies, women leave even less often than men, suggesting that these organisations provide better support, growth opportunities, or a more favourable work culture for women employees. The manufacturing, science, and engineering sectors have the lowest attrition rates, at 11–12%, which indicates that these industries retain women more effectively.
Why women stay, leave, and lead in Indian companies
The report indicates that women typically leave their jobs to pursue better opportunities, relocate, or further their education. Unlike earlier, factors such as work flexibility, elder-care responsibilities, or workplace difficulties now influence fewer working women. This suggests that companies are improving support systems and work environments, making it easier for women to balance work and personal life.
Another positive trend is maternity retention. Companies have maintained high rates of 88–97% for women returning to work after childbirth since 2017. Better organisational support (such as leave policies and re-onboarding programs) has been helping women continue their careers.
So, which are the best companies for women in India, as per the Avtar BCWI study 2025?
The Best Companies for Women in India list is based on data from over 350 organisations with more than 500 employees, collected by Avtar. Companies were evaluated on factors like diversity, recruitment, retention, career growth, workplace culture, safety, and parental leave policies. Out of these, 125 companies made it to the list, with the top 10 being AXA, Accenture, Cairn Oil & Gas, EY, KPMG in India, Mastercard, Optum Global Solutions (India), Procter & Gamble India, Tech Mahindra, and Wipro.
The final thoughts
The journey of women in corporate India shows progress, but it also highlights the work that remains to be done. More women are joining companies and entering leadership roles than ever before, yet their representation at senior levels remains limited. The data shows that some sectors and companies are doing better than others, but overall, growth is slow. This means organisations need to take more focused and practical steps to ensure women not only join the workforce but also stay, grow, and advance to leadership roles.
Changeincontent perspective
The findings of the Avtar BCWI Study 2025 confirm that real inclusion is possible when companies combine data-driven action with empathy. The top organisations on this list (from Accenture and EY to Tech Mahindra and Procter & Gamble) prove that inclusive policies yield measurable results. However, 20% leadership representation is still insufficient in a country where women comprise nearly half the population. The next leap must go beyond recognition; it must translate into representation at the very top.
Related Article: The Marching Sheep Inclusion Index: 63% of Indian companies still have no women leaders.
Disclaimer: The views expressed in this article are based on the writer’s insights, supported by data and resources available both online and offline, as applicable. Changeincontent.com is committed to promoting inclusivity across all forms of content. We broadly define inclusivity as media, policies, law, and history. It encompasses all elements that influence the lives of women and marginalised individuals. Our goal is to promote understanding and advocate for comprehensive inclusivity.
