A decade ago, the Companies Act of 2013 and the Securities and Exchange Board of India (SEBI)’s 2014 rules sparked hope for significant shifts in corporate leadership demographics. The Companies Act of 2013 required certain classes of companies to have at least one woman director on their boards, while SEBI’s 2014 rules limited independent directors’ tenures to two consecutive terms i.e. 10 years. These measures aimed to enhance gender diversity and leadership within corporate boards. As a result, over the years, women’s representation on boards has increased from 6% in 2013 to 18.3% in 2023.

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