Prime Highlights
- Nine women CXOs now earn over $1 million annually.
- Domestic firms are leading growth in women leadership pay.
Key Facts
- The study analysed BSE 200 companies.
- Pharma and consumer sectors showed the strongest representation.
Background
Indian companies are rewarding more women leaders with top-level compensation packages as businesses place greater focus on diversity, merit-based leadership and professional talent. A recent analysis of BSE 200 companies found that nine women executives now earn more than $1 million annually, up from seven two years earlier.
The study showed that domestic companies have outpaced multinational corporations in rewarding women at the highest leadership levels. Most of the women executives in the million-dollar compensation group work in the pharmaceutical and consumer sectors, which have traditionally offered stronger pathways to senior leadership roles.
Industry experts said the increase reflects a broader shift in corporate India, where companies are increasingly viewing diversity as a business priority rather than a compliance requirement. They noted that professional executives are now driving high-value compensation packages, replacing the earlier trend where promoter-led leadership dominated top earnings.
The analysis highlighted Nilima Prasad Divi of Divi’s Laboratories as the highest-paid woman executive in FY25. She was followed by Hina Nagarajan of United Spirits and Vinita Gupta of Lupin. During the same period, Yashish Dahiya of PB Fintech emerged as the country’s highest-paid chief executive, largely due to exercised stock options.
Experts said Indian companies are building larger global businesses and competing for leadership talent at international standards. As a result, more women are moving into profit-and-loss management, digital transformation and strategic leadership positions.
However, industry leaders pointed out that the progress remains concentrated in larger companies and a few sectors. They mentioned that women leaders still experience difficulties in rising to top leadership positions despite some improvements in their numbers.
Financial Services, pharmaceuticals, and consumer-oriented sectors are at the forefront of providing opportunities to female executives, thereby showing a definite trend towards inclusion in leadership in corporate India.
