Business Today hosted the 21st edition of Business Today’s Most Powerful Women 2024 event in Mumbai. Women leaders from various fields spoke about the challenges faced by women entrepreneurs in running offices in India. There is a growing presence of women in managerial and entrepreneurial positions in India, which is having a positive impact on business and economic development in the country. Women-run businesses are actively promoting social progress by creating jobs, driving demographic changes, and serving as role models for the next generation of female business leaders.

The session, moderated by Business Today Editor Siddharth Zarabi, began with speakers sharing their experiences of obstacles to opportunities they encountered while establishing their workplaces. Prabha Narasimhan, MD & CEO, Colgate-Palmolive (India), said: “Grit, Gumption and Guts are common to men and women both. What makes it interesting for women as we tend to undersell ourselves a little bit. Therefore, we need to have the guts to put ourselves and make people notice us at work.” 

Padmaja Ruparel, Co-founder, Indian Angel Network, said: “Women always had a tough time. In most societies, not just India, people have preconceived notions about women. That’s the first challenge. The second point is that the women are not grown or nurtured to take risks in their workplace. They are pulled against a conservative barrier. Another big challenge is that women here don’t own assets. They don’t make decisions of the assets they own. Fathers, brothers or husbands take the call. There are many challenges a woman entrepreneur faces.”   

Talking about risk-taking abilities of women managers and bosses, Prativa Mohapatra, VP & Managing Director, Adobe India, said: “In general women are a little risk averse as from childhood they have been taught with lessons not to take risks. There have been don’ts. So, to break those barriers it is harder… Society doesn’t allow you take risks.”

Narasimhan of Colgate-Palmolive (India): “When you’re personally putting yourself there (risk-taking situations), women are terrible. If you have an opportunity that puts you out of your comfort zone, and stretches you, women will not put up their hand. So, I would tell all women here and beyond, go ahead and take that risk.”

She further added: “In terms of business risks, I feel women are a bit more balanced than men. They have the ability to look at numbers and quality on both sides. You may call it gut. Women’s decisions are much more balanced.”