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From shop floor to C-suite — economic liberalisation helped shatter many glass ceilings

The expansion of Indian businesses and the entry of MNCs in manufacturing and services opened up opportunities for women to excel.

July 26, 2021 / 20:23 IST
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Over 2,000 women currently sit on the boards of companies listed on the National Stock Exchange but Vibha Padalkar alone figures as a top female boss of a Nifty 50 company currently. Padalkar is the managing director (MD) and the chief executive officer (CEO) of HDFC Life Insurance. At its promoter company, HDFC Ltd, Renu Sud Karnad is the MD, a post she has held for over 10 years, but the chair of the CEO is occupied by Keki Mistry. HDFC Ltd is also an important constituent of the benchmark Nifty 50 index.

Padalkar was not the first to be named to the top position of a Nifty 50 company. Arundhati Bhattacharya, Shikha Sharma and Chanda Kochhar have helmed the State Bank of India, Axis Bank and ICICI Bank, respectively, in the last decade. Professional women executives have helmed several other top companies since the turn of the century. For instance, Vinita Bali, the former MD and CEO of Britannia. She was the first female professional to be appointed to the top post of an FMCG company in India in 2005-06.

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Grit and hard work

Most of these women began their careers in the 1970s and early 1980s and rose through the ranks to top positions through their grit and hard work. They have gone on to prove that women are as competent as their male counterparts, particularly in the complex area of banking and finance. Women have done well in many other industries too.