A few years ago, India’s BFSI sector stood out as the most visible sector for women leadership, including Shikha Sharma (Axis Bank), Naina Lal Kidwai (HSBC), Zareen Daruwala (Standard Chartered) and Kalpana Morparia (JP Morgan).Despite progress, industry experts believe structural and cultural barriers remain in workplaces. “There is still a deep-rooted belief that sectors like infrastructure, capital goods, automobiles are better suited for male leaders. Companies need to actively encourage more women to enter these sectors and support them through policies, mentorship and leadership development. The share of women in STEM is also relatively low, which weakens the leadership pipeline. At the same time, broader issues such as safety remain a real hurdle,” said Namita Thapar, Executive Director, Emcure Pharmaceuticals.Terming it a “broken staircase” challenge, Achal Khanna, CEO of professional association SHRM (APAC and MENA), cited the 2026 India Inc Leadership Report, which estimates that about 30% of companies have seen stagnation or decline in the number of women in senior roles over the past five years, mainly due to many exits at the mid-management stage due to limited structural support and perceived unfairness in promotions. Fixing this barrier will be critical to building a stronger lead pipeline.“Beyond mentorship, continued sponsorship, cultural change and policies that support career continuity matter,” said Deshani Naidu, CEO of Vedanta Resources. However, the picture is dynamic and may evolve every year. Sectors that consciously foster gender-diverse talent and prioritize their development over time are likely to stay ahead. While industries like manufacturing, infrastructure, technology and logistics, where pipelines remain thin, are lagging.Meanwhile, the share of female CEOs in multinational companies is higher because diversity is embedded in their leadership agenda, the survey said. Indian companies have only recently begun to pay attention to this, suggesting that closing this gap may take five to 10 years.
