Women Leaders Advocate for Diversity and Inclusion

In a panel discussion at the NDTV World Summit 2024, leading Indian businesswomen highlighted the crucial role of women in fostering a better future and breaking new benchmarks on the global stage. The panel included Kami Swaminath, President of FedEx, Preeti Bajaj, CEO and MD of Luminous Power Technologies, and Padmaja Ruparel, Co-Founder of the Indian Angel Network.

Swaminath addressed the traditionally male-dominated business sectors, stating that glass ceilings are being shattered in every sphere. However, she emphasized that there is still much work to be done. At FedEx, a global corporation operating across multiple international markets, they recognize the power of building a global culture of diversity, equity, and inclusion. Currently, 36% of their board is made up of women, and they have 26% women in management globally. FedEx has recently increased its focus on diversity, equity, and inclusion, rededicating itself to inclusive hiring, promotions, and supporting career paths.

Swaminath also highlighted the challenge of increasing women’s representation in logistics and supply chain sectors. She pointed out that 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 working towards building an environment where diversity, equity, and inclusion thrive, with senior team members specifically working on being more inclusive.

Preeti Bajaj, CEO and MD of Luminous Power Technologies, spoke about the importance of women in senior management. She informed that 33% of Luminous’ senior team consists of women. She outlined the work needed in the energy sector in three stages: equity of access to opportunities, ambition, and attainment, which involves creating supportive environments and policies that can address these challenges.

Padmaja Ruparel, Co-Founder of the Indian Angel Network, shared her experience as an early-stage investor. She highlighted the need to create a ‘BlackRock of India’ led by women, given the low percentage of funding going to women and the low number of women investors. Despite these advancements, a recent report revealed that only 38 of India’s 100 leading publicly listed corporations have more than 20% women employees in their workforce, underscoring the need for faster inclusion to achieve gender equality in business and other sectors.

In other news, the Financial Conduct Authority (FCA) is overhauling the process for companies wanting to list on the London stock exchange in ‘the biggest changes to the regime in over three decades’. The new rules aim to encourage more businesses to become publicly-listed companies in the UK, which has seen a significant drop in Initial Public Offerings (IPOs) in recent years. In the education sector, the CBSE Class 10 Social Science Practice Model Paper 2024 for all the CBSE Class 10 students has been released.

This model paper is based on the entire syllabus and includes 50 percent of competency questions, providing an overview of the board pattern. In the political sphere, the State of the Union 2024 address highlighted that freedom and democracy are under attack both at home and overseas. The speaker emphasized that this is no ordinary moment and called for the awakening of the Congress and the American people to this reality.

These recent events underscore the importance of diversity, equity, and inclusion in all sectors, the need for regulatory changes to encourage business growth, the significance of education in shaping the future, and the crucial role of political leadership in safeguarding democracy. These developments serve as a reminder of the ongoing efforts and challenges in achieving a more inclusive and equitable society.