Leading businesswomen discuss role of women workforce in fostering better future

New Delhi : A panel discussion of the country's leading businesswomen at the NDTV World Summit 2024 on Tuesday, highlighted the vital role of women workforce in fostering a better future, creating a new paradigm of leadership and also breaking new benchmarks on the global stage.

The panel included leading Indian businesswomen such as Kami Swaminath, President of FedEx, Preeti Bajaj, CEO and MD of Luminous Power Technologies, and Padmaja Ruparel, Co-Founder of the Indian Angel Network.

FedEx President Kami Swaminath, addressed the traditionally male-dominated business sectors said that glass ceilings are being broken in every spehere.

"There is still a lot more work to be done. At FedEx, as a global corporation operating across multiple international markets, we recognise the power of building a global culture of diversity, equity, and inclusion. Currently, 36 per cent of our board is made up of women, and we have 26 per cent women in management globally. Our approach is quite structured, and we recently added more focus on diversity, equity, and inclusion, rededicating ourselves to inclusive hiring, promotions, and supporting career paths," she remarked.

Swaminath emphasised the challenge of increasing women's representation in logistics and supply chain sectors and said, "A key area of focus is middle management, where there is often a drop-off in women's participation due to societal expectations around childcare, elder care, and other responsibilities."

"FedEx is a people-centric culture, and much of our effort is aimed at building an environment where DEI thrives. Our senior team members are specifically working on being more inclusive. There is a lot more to be done, and it is an ongoing journey for us—especially in bringing more women into senior management and increasing their representation," she said.

On India’s expanding economy, Swaminath commented, "We see tremendous growth opportunities in India with its expanding economy. As a global connector, FedEx is focusing on optimising supply chains to better serve our customers."

Preeti Bajaj, CEO and MD of Luminous Power Technologies, spoke about the importance of women in senior management. She informed that 33 per cent of Luminous' senior team consists of women.

She described the work needed in the energy sector in three stages: "First, there is equity of access to opportunities, which is critical. Second is ambition—women must aspire to reach senior-level roles and fuel their own desire to pioneer such positions. Finally, there is attainment, which involves creating supportive environments and policies that can address these challenges. My call to action for women in the energy sector is that this is an evolutionary time, and we are part of the Viksit Bharat 2047 initiative."

Padmaja Ruparel, Co-Founder of the Indian Angel Network, shared her experience as an early-stage investor, saying, "When I started, there were no women in this field, and I went through many evolutions myself. I can’t be an investor if there are no entrepreneurs. In 2022, only 14.7 per cent of funding went to women, which is not encouraging. The number of women investors is also very low, and growth capital is much less for women partners. We need to create a 'BlackRock of India' led by women."

According to a recent report, only 38 of India's 100 leading publicly listed corporations have more than 20 per cent women employees in their workforce, underscoring the need for faster inclusion to achieve gender equality in business and other sectors.