Archive · 1 Sep 2026
Women Face Representation and Pay Gaps Across Corporate India
Many companies in India still have few women in their top leadership jobs.
Nearly half of the companies studied had only between 16% and 33% women on their boards.
Only a small number had boards with at least half women.
Some companies had no women directors at all.
The situation was worse for key management jobs, where about three out of five companies had no women.
Women also earned less than men in every one of the 22 sectors studied.
The analysis says that having one woman on a board may sometimes satisfy a rule without creating truly inclusive leadership.
It also warns that companies with large representation and pay gaps could face greater governance and reputational risks.
Female board directors and key management personnel earn less than male counterparts across all 22 sectors.
A total of 460 companies, or 46.84%, have between 16% and 33% female board representation.
Only 28 companies, or 2.85%, have boards that are at least 50% female, while 34 have no women directors.
Female representation among key management personnel is weaker, with 598 companies, or 60.90%, reporting no female KMPs.
The largest reported pay gaps include Textiles at board level and Media Entertainment among key management personnel.
- Who
- Women serving as board directors and key management personnel, along with the companies covered by the analysis.
- What
- The analysis identifies widespread female underrepresentation and gender pay gaps in corporate leadership.
- Where
- Corporate India across 22 sectors.
- Why
- The analysis attributes the concern to limited female participation in leadership and persistent differences in executive remuneration.
- Sectors studied
- 22 sectors
- Companies with 16%–33% female boards
- 460 companies, or 46.84%
- Companies with at least 50% female boards
- 28 companies, or 2.85%
- Companies with no women directors
- 34 companies, or 3.46%
- Companies with no female KMPs
- 598 companies, or 60.90%
- Largest board-level pay gap cited
- Textiles: male median salary of INR 25.7 lakh versus female median salary of INR 3.6 lakh
- Largest KMP pay gap cited
- Media Entertainment: male median salary of INR 1.57 crore versus female median salary of INR 17.2 lakh