New Delhi, Nov. 18 -- Despite evidence of women's leadership being linked to improved business outcomes and more resilient organizational structures, boardroom diversity is still seen as a moral imperative rather than a strategic one. After Sebi mandated companies to appoint at least one woman board member in 2013, women's representation on boards rose to 15% in 2019 (according to a 2020 Mint analysis of data sourced from NSE Infobase), up from a 5% in 2013. The idea of diverse boardrooms, with all its advantages, is often reduced to tokenistic measures that serve optics rather than systemic change.

The challenge is more layered than it appears at first glance. Women's leadership in organizations, in addition to being woefully low, is fu...