Lok Sabha Question No. 3917 (UNSTARRED), answered on 2023-03-24
Subject: Representation of Women
Ministry: WOMEN AND CHILD DEVELOPMENT
Asked by: A. Chellakumar

## GOVERNMENT OF INDIA MINISTRY OF WOMEN AND CHILD DEVELOPMENT

## LOK SABHA

## UNSTARRED QUESTION NO. 3917

TO BE ANSWERED ON 24.03.2023

## REPRESENTATION OF WOMEN

## 3917:  DR. A. CHELLAKUMAR

Will the MINISTER OF WOMEN AND CHILD DEVELOPMENT be please to state:

- (a) whether the Government is aware that the Willis Tower Watson Global Gender Wealth Equity 2022 report finds that India has the highest gender wealth gap in the Asia and Pacific Region, partly attributable to low representation in upper their management, if so, the reaction of the Government thereto;
- (b) whether the Government has details on the representation of women directors in listed companies since the implementation of the Companies (Appointment and Qualification of Directors) Rules, 2014 till 2021;
- (c) if so, the details thereof and if not, the reasons therefor;
- (d) whether the Government is undertaking any steps to increase representation of women in upper management; and
- (e) if so, the details thereof and if not, the reasons therefor?

## ANSWER

## MINISTER OF WOMEN AND CHILD DEVELOPMENT (SHRIMATI SMRITI ZUBIN IRANI)

(a) to (e): The Government is aware of the Willis Tower Watson Global Gender Wealth Equity  2022  report.  However,  the  Government  is  not  aware  of  the  methodology adopted to arrive at conclusions and hence neither endorses the observations made in the report nor validates the methodology or the source of information used in the report.

With a view to increase representation of women in senior positions, the Companies (Appointment and Qualification of Directors) Rules were amended in 2014.  As per modified  rules,  it  is  mandatory  to  have  at  least  one  women  Director  on  Board  for certain class or class of Companies. Section 149 of the Companies Act, 2013 read with Rule 3 of Companies (Appointment and Qualification of Directors) Rules, 2014 prescribes that following class of companies shall appoint at least one women director:

1. every listed company;
2. every other public company having (i) paid-up share capital of one hundred crore rupees or more; or (ii) turnover of three hundred crore rupees or more.

In the case of vacancy in the post of women director, such vacancy must be filled as early as possible and it should not be later than the immediate next board meeting or three  months  from  the  date  of  vacancy,  i.e.,  whichever  is  later.  There  are  36,988 Directors in 6,399 Active Listed Companies in which the number of women Directors is 7,848. Further, there are 51,46,980 Directors in 15,24,057 Active Companies, out of which the number of Women Directors is 9,75,447.

Further,  review  of  laws,  policies  and  programmes  for  holistic  development  and empowerment of women including increasing the representation of women in various fields is a continuous process. The Government takes appropriate measures from time to time for this purpose.  The Government of India is fully committed to promote gender equality in all domains by removing all forms of discrimination and barriers hindering the holistic development and empowerment of women and achieve the goal of women led development in place of women's development.

*******