WEF 2024 | More women, faster $5 trillion economy — Hindustan Zinc exec's claim

Priya Agarwal Hebbar, Chairperson at Hindustan Zinc, highlighted the pivotal role that increased female participation in the workforce can play in propelling India towards a $5 trillion economy at an accelerated pace.

Speaking with CNBC-TV18 on the sidelines of the annual World Economic Forum (WEF) meet at Davos, Hebbar disclosed that the company has already achieved close to 30% representation of women in leadership positions. She firmly believes that integrating more women into the workforce is a key catalyst for realising the ambitious economic target.

During the panel discussion, Romal Shetty, the CEO of Deloitte South Asia, also emphasised the importance of addressing biases in the workplace. "We have built a 'Bias Store' with the help of AI to break myths; this is good for the business."  He stressed the need for mentorship and sponsorship programs to drive positive changes in corporate culture.

Shetty noted that solutions are more effective when there is gender diversity. Shetty shared that one of his initial decisions as a leader was to ensure that 30% of leadership positions were occupied by women.

The broader industry, however, faces challenges in retaining women in the workforce, particularly at the middle-management level, he informed, emphasising the need for a mindset change to attract and retain more women.

"There is a huge opportunity for women in the tech industry," added Debjani Ghosh, President, NASSCOM, highlighting the need to rewrite leadership job positions to be more inclusive.

She stressed that the tech industry's biggest challenge is getting artificial intelligence (AI) right and asserted that trust and alignment are core issues that can be addressed by bringing more women into the field.

Vinita Jain, Founder of Biotique, shared her company's success story, announcing plans for an IPO in 2025. "We are a zero debt company with a strong bottom line. It was my passion to preserve health and beauty. Ayurveda is truly an elixir."