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FICCI to set up pool of women directors

It is planning to put in place such a mechanism to ensure 'inclusion of women in the workplace'

Policy Pulse
Publish Date: May 29 2016 10:55AM | Updated Date: May 29 2016 10:55AM

FICCI to set up pool of women directors

 Industry body FICCI is setting a pool of prospective women directors in in order to tap into growing demand for them as firms look to bring in diversity to their boardrooms. 

 
FICCI's ladies wing FLOis planning to put in place such a mechanism to ensure "inclusion of women in the workplace". 
 
"Both in India and rest of the world, demand for women directors is growing as corporations seek to add diversity to their boards due to competitive challenges or mandated quotas," said FICCI Ladies Organisation (FLO) President Vinita Bimbhet during an interaction. 
 
"Being the largest body of women directors in India, we are also looking at creating a pool of prospective women directors and also enhance the effectiveness of the existing ones." 
 
Bimbhet spoke about economic empowerment of women worldwide as one of the most remarkable revolutions of the past 50 years.
 
All listed firms in in the country are needed to have at least one woman director on board from April 1, 2015, as per markets regulator Sebi's order as also under the Companies Act, 2013, which is aimed at bringing about gender diversity in boardrooms. 
 
As on March 31, 2016, out of 5,451 companies listed on BSE, 1,375 have failed to obey the order, which have been fined, government data showed. The corresponding figure on NSE is 191. 
 
"FLO's vision for the year is to work in the direction of inclusion of women in the workplace," she said.