Indian women leading 18% of 111 unicorns in India: Finance Minister Nirmala Sitharaman

Indian women are rising the corporate ladder as they are leading about 18 per cent of 111 unicorns (valued at $1 billion) in the startup and financial technology space, said Nirmala Sitharaman, Union Finance Minister.

Speaking at a conference organised by the FICCI-FLO Chennai Chapter in Chennai, Sitharaman said the number of women directors in active corporate companies has increased more than three times in the last decade.From 2.58 lakh in 2014, women directors associated with active companies rose to 8.83 lakh -- over 3.4 times higher -- in the country by August 2024.

In Tamil Nadu, the number has risen by 4.3 times -- from 15,550 in 2014 to 68,000 in August 2024, said the Finance and Corporate Affairs Minister, while lauding efforts undertaken by Prime Minister Narendra Modi-led government to boost women's participation across sectors.Sitharaman noted the efforts are visible in the amount of funds being allocated to the schemes related to women empowerment in the recent Union Budget.

In FY2014, the Centre provisioned Rs 97,134 crore as the Budget Estimate on the schemes for the welfare and empowerment of women. The amount has tripled to Rs 3.10 lakh crore in the FY2025 budget, the FM said.Further, Sitharaman cited a study by research firm Deloitte to show that the number of women directors on the Board of Nifty 50 companies has also increased to 22 per cent. 

In 2019, it was 18 per cent.Besides corporate roles, the FM also stated that women are now also “allowed in combat services across the three forces”.She informed that the entry of women in various cadres in the Navy commenced in June 2023."Recruitment of officers in the IAF is now gender-neutral. Women officers are inducted into all the branches and streams of the IAF," she said.