Missing Women on IWD 2025: A Trillion-Dollar Future Without Them?

As the world marks International Women’s Day 2025, India's financial, tech, and semiconductor sectors reveal a stark leadership gap. A study by Venator Search Partners finds women hold just 12.5% of leadership roles in NBFCs and MFIs—half the global financial average. The tech sector fares little better, with women comprising less than a third of the workforce and only 18-19% in executive roles. Meanwhile, India's booming semiconductor industry, poised to create one million jobs by 2026, remains overwhelmingly male-dominated.

Despite progress, systemic barriers persist. The challenge is not capability but access—access to leadership pipelines, inclusive workplaces, and equal opportunities. Will these industries finally break the glass ceiling, or will women continue to be sidelined?

The Leadership Void: Where Are the Women in NBFCs and MFIs?

The study, covering the top 25 NBFCs and 10 MFIs, uncovered a striking imbalance. Among the 250 leaders in NBFCs and 113 in MFIs, women remain vastly underrepresented. Alarmingly, 12 of the 25 NBFCs and 2 of the 10 MFIs had no female leaders at all. While global financial institutions struggle with gender disparity, the Indian NBFC and MFI sectors lag even further behind.

Moreover, most senior women leaders in these institutions are confined to HR roles. Of the 42 women in leadership positions, nearly 30% head HR, while business support functions like Compliance, Secretarial, and Legal make up another 25%. Business operations, finance, and risk management remain male-dominated.

A Paradox in Microfinance: Women as Customers, But Not as Leaders

The gender gap is especially paradoxical given MFIs’ primary customer base—women. Microfinance institutions empower millions of female entrepreneurs, yet their leadership structures lack female representation. This contradiction raises critical questions about inclusivity and representation at the top.

However, success stories like Kalpana Sankar of Belstar, Purvi Bhavsar of Pahal Financial, Padmaja Reddy of Spandana Sphoorty, and Ananya Birla of Svatantra Microfin prove that women excel in the financial sector and redefine industry standards.

Tech and Semiconductors: Breaking the Glass Ceiling in STEM

The leadership gap extends beyond finance. Globally, just 42% of working-age women participate in the workforce—meaning for every two employed men, only one woman is working. In tech, women comprise less than a third of the workforce, and only 18-19% hold executive roles, according to The World Bank. Gender biases, lack of mentorship, and limited professional development hinder career growth, fueling high attrition rates.

Organizations are responding. The women’s workforce in IT is projected to grow by 12% this year, and Global Capability Centers (GCCs) are showing an upward trend in female hiring.

India’s Semiconductor Boom: Will Women Seize the Opportunity?

India’s semiconductor sector, set to reach USD 79.20 billion by FY2031, offers immense opportunities. With 1 million jobs projected by 2026, an inclusive workforce is essential. Currently, women make up just 25% of India's 220,000-strong chip design and engineering workforce, though this is expected to exceed 30% by 2027.

Yet, men continue to dominate key semiconductor roles—Chip Semiconductor Fabrication (60:40), Chip Design (70:30), and Assembly, Testing, Marking, and Packaging (ATMP) (80:20). Leadership roles are even more skewed, with men holding 93-95% of top positions. Bridging this divide is crucial for a diverse and sustainable semiconductor ecosystem in India.

Beyond Tokenism: Building an Inclusive Future in Leadership

Bharati Mujumdar, Director of Operations at Venator Search Partners, stresses the need for targeted initiatives. 

“Women are entrepreneurial and deserve fair representation in leadership,” she says. “Mentorship, inclusive workplaces, and family support are key to bridging this gap.”

Sachin Alug, CEO of NLB Services, emphasizes the semiconductor sector’s need for gender-neutral policies and infrastructure.

“Better worker housing, healthcare, and efficient transport are essential. Collaboration between the government and private sector will be key to retaining a skilled workforce,” he states.

The push for gender diversity in NBFCs, MFIs, tech, and semiconductors must go beyond symbolic efforts. Industries must adopt mentorship programs, leadership training, and workplace policies that promote work-life balance. Women bring fresh perspectives and inclusive leadership styles, strengthening decision-making and driving sustainable growth.

A Call to Action: Turning Words into Progress

International Women’s Day 2025 (IWD25) is a reminder that gender diversity is not just a moral imperative—it’s a business necessity. With strong policies, mentorship, and organizational commitment, these industries can transform. It’s time to move beyond conversations and take definitive steps toward an equitable future—one where women not only receive financial support but also lead the way.