Companies should aspire for 50% female directors at firms: Piyush Goyal

Speaking at an event organised by the Ficci Ladies’ Organisation, Commerce and Industry minister Piyush Goyal said that companies should aspire to have as many as 50% female directors on their boards.

Goyal also said reservations based on gender won’t take the country further. He took examples of Sushma Swaraj, Smriti Irani and Finance Minister Nirmala Sitharaman as role models for women, who came through their hard work, dedication, commitment and capabilities.

Goyal said, “Unless we set ambitious goals, we are not going to achieve much. We should be aspiring for 50% of directors of companies to be women, not by reservation but by their might, by choice. We should also be aspiring for 50% of businesses to be owned by women, through the sheer dint of their capabilities.”

Goyal also added that reservations based on gender won’t take the country further. “That will only mean a sarpanch making his wife a sarpanch, or a chief minister — as we have seen in the past — making his wife a dummy chief minister,” he said.

Goyal said India will emerge as a $30-trillion economy in the next 30 years, compared with over $3 trillion now. The government is working actively with different countries to finalise the free trade agreement (FTA) and talks with the UK are in final stages.