BENGALURU: When it comes to women empowerment in the business world, India is setting the right example. According to a recent study ‘Building Diversity in Asia Pacific Boardrooms’, the nation has made momentous progress in broadening female representation on the boards of top 100 companies listed on the Bombay Stock Exchange, reports Business Standard.

The study suggests that female board representation increased from 7.3 percent in 2013 to 8.6 percent in 2014. Previously, in 2012, it was 5.8 percent and is estimated at 12 percent for 2015. The study says that three countries in the Asia Pacific region, namely Australia, India, and Malaysia, showed significant improvement in broadening women representation on boards across the companies. A combination of government initiatives has contributed to the increase in these countries.

"Indian companies, for instance, have been swift to respond to the Company Act by drawing on their existing networks," said the joint study by Korn Ferry, a global people advisory, and National University of Singapore Business School's Centre for Governance Institution and Organization (CGIO). The Indian companies quickly adopted this Company Law that in turn has enabled this broadening female representation across many companies.

India's corporate boards without women have decreased from 44 percent in 2013 to 29 percent in 2014. The highest number of female board members is 17.5 percent serving in the telecommunication services, followed by 11.6 percent in information technology, 9.6 percent in financials, and the lowest at 4.9 percent in industrials.

10.2 percent of the company boardrooms represent women as directors across 10 Asia Pacific economies. In Australia, Female board members increased from 18.6 percent in 2013 to 21.9 percent in 2014. In Malaysia, women in boardrooms increased from 8.3 percent in 2013 to 12.5 percent in 2014, driven by the government set target of having 30 percent by this year.

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