Women in Business 2026: The value of visibility
2026 marks more than two decades of Grant Thornton’s commitment to tracking and advancing women’s representation in senior management across the global midmarket. Women in Business 2026 highlights both meaningful progress and emerging pressure points shaping the journey towards gender parity.
In India, organisational commitment to Diversity, Equity and Inclusion (DEI) continues to deepen, with 97.7% of midmarket firms reporting that they have DEI initiatives in place – surpassing the global figure of 92.7%. Moreover, 77.1% say they remain committed to gender equality efforts, compared with the global 75.8%, reflecting higher expectations for sustained and visible progress.
Yet, despite longterm gains, this year’s findings are a reminder that progress is rarely linear. Continued focus is essential to prevent regression. The data highlights where momentum is holding, where it risks slowing, and what leaders must prioritise to sustain progress in the years ahead.
The commercial benefits of gender diversity
This year’s research shows that a visible commitment to gender equality correlates with stronger business performance. Globally, our research shows that midmarket companies sustain and expand gender equality initiatives have been more likely to outperform those that don’t. Globally, among businesses who are committed and plan to introduce new gender equality measures: 73.0% grew their revenue, 56.2% grew staff levels and 48.8% grew exports by more than 5%.
Growth depends on investment, and investors are now looking for gender balanced leadership as a marker of credible, future ready businesses. While globally, 26.5% of firms cited that potential investors asked them to show seniorteam gender data in the past year, in India, the bar is higher. 40.6% of Indian mid-market firms stated that potential investors requested to see the gender balance of senior management teams and evidence of a commitment to a program that improves gender diversity, illustrating that visible progress on gender balance now influence capital choices.
Focused on gender equality
Our 2026 research shows that mid‑market firms have expanded coverage of gender strategies across core people levers – pay, recruitment, promotions and leadership. Indian mid-market businesses report having gender equality strategies in place across employee pay (42.2%, +2.3 pp y-o-y), representation in senior leadership positions (40.9%, +3.2 pp y-o-y), recruitment and selection (41.1%, +2 pp y-o-y), training (32.6%, +0.1 pp y-o-y) and promotions (40.1%, +2.4 pp y-o y).
The research also finds that 88.0% of Indian mid-market firms reviewed their diversity, equity and inclusion (DE&I) policies in 2025, with 17.5% either planning to relax and have relaxed their gender equality initiatives, primarily those related to recruitment and executive pay. While the reviews are not necessarily a negative action, this underscores the need to protect gains with governance and clear accountability.
Women in senior management: The India perspective
Our Women in Business 2026 research shows a decline in the global proportion of senior management positions in midmarket businesses held by women. Women now occupy 32.9% of senior management roles (a decrease of 1.1 pp yoy). At the current pace, parity in midmarket leadership is projected by 2051, meaning any setback extends the timeline further.
India mirrors this global trend, with nearly 34% of senior leadership roles held by women (a decrease of 2.6 pp y-o-y). India is one of only four surveyed markets with zero all male senior teams, and representation is visible across the c-suite: Chief Human Resources Officer (44.6%), Chief Technology Officer (44.6%), Chief Financial Officer (41.1%), Chief Information Officer (38.9%), Chief Marketing Officer (34.9%), Chief Operating Officer (34.3%), Chief Executive Officer (33.1%) and Chief Sustainability Officer (33.1%).
Compared with 2025, the strongest y-o-y gains were seen in Chief Operating Officer (+1.2 pp yoy), Chief Executive Officer (+0.6 pp yoy) and Chief Human Resources Officer (+0.4 pp yoy) roles.
A talent priority
Despite the decline in the overall proportion of women in senior management, there are positive indicators that this can be reversed. Gender equality remains a priority for business leaders. In India, 96.0% of leaders consider a company’s gender equality position when assessing a role, and 81.7% state it is a priority - both higher than the global averages of 91.9% and 66.6% respectively, reflecting stronger expectations in the India market.
Prospective employees also seek greater transparency: 44.6% of candidates requested senior team gender data, compared with the global figure of 23% who enquired about gender balance. Retention also matters. More than half of recent female senior hires in midmarket businesses were internal appointments. This signals that visible progress, strong role models and clear progression pathways remain essential to sustaining a resilient leadership pipeline.
An essential driver of mid-market performance
To protect momentum and bring parity forward, we recommend:
Why Women in Business matters
For more than two decades, Women in Business has shown that gender balanced leadership is not just equitable - it is essential to sustainable growth, resilience and better decision making across the midmarket. Together, this year’s findings show that visibility is the accelerator of progress: where leadership commitment is clear and visible, momentum is more resilient - for businesses, talent and long-term growth.
Read the full report to explore the data, regional perspectives and practical actions shaping the next phase of progress.
