Dr. Swati Piramal, Vice Chairperson, Piramal Group
Image: Bajirao Pawar for Forbes India
Dr Swati Piramal has consistently been a formidable voice for change. Through Piramal Foundation’s philanthropic initiatives and the numerous public health campaigns, she has led organisations for more than forty years, demonstrating the value of inclusion and its potential to nurture parity. Efforts to reframe the gender narrative should begin in schools, she says. Only then, these values will be carried into workplaces and beyond. Edited excerpts:
Q. Betting big on pharma and pursuing your passion for public health—you showed grit at a time when gender stereotypes were more rigid. What were some of the early challenges?
We ventured into the pharma business during a period of price control when many companies were exiting the Indian market. Acquiring Nicholas Laboratories was a bold decision, because until then we had dealt with only textiles, an industry that relied heavily on a large labour force. Pharma had a totally different environment—workforce was minimal and everything was automated. We had two major challenges: one was adhering to the brand agreement and the other achieving world-class standards since Indian products were considered to be largely inferior. We managed substantial turnover and despite much scepticism, went ahead to set up a new plant.
There were also some personal challenges. Initially, some people found it difficult to accept a woman on the Board. But having a medical background gave me a distinct advantage – I knew the jargons well as also the technical nuances. Also, I would prepare thoroughly before going to any meeting and that gave me better credibility and acceptance. Continuous learning and thorough preparation – that’s a strategy that has helped me throughout. Another issue was the resistance of people who had concerns around parity.
Q. Addressing the gender gap is an economic imperative, yet it is often seen as solely a women’s issue. What are your thoughts on this?
Higher female workforce participation is crucial to India achieving its goal of achieving 8 percent gross domestic product (GDP) growth rate by 2030. Bringing in more women, especially in sectors where they are traditionally low in numbers like manufacturing, sales, or the armed forces, can have a positive impact on all economic indicators. The question is: How do we get there?
The need of the hour is reforms because many of our laws are outdated. For instance, women were prohibited from doing night shifts in factories. During my time on the board of Nestlé, this posed a challenge in one of the plants that had a predominantly female workforce. Bringing about change was a tough task also because we had to make sure that the work environment was safe for women and that they could get home safely.
Q. How robust is India’s policy framework? What is its potential to address socio-economic inequities?
There has been some progress but a lot of ground needs to be covered, especially in terms of structuring the framework. For instance, almost 70 percent of women in the country are anaemic. I have often approached the government to exempt iron tablets from price control because this leads to the making of poor-quality supplements. Women refuse to take these when given for free, leading to high maternal and infant mortality. We need to ensure that women have access to high-quality supplements, which can invariably improve uptake. This has been an ongoing challenge since Independence, and it is high time we took it up seriously.
Be it health concerns like this or issues like violence against women, effective communication and collective action are crucial for driving change. That’s the biggest lesson I learnt at the Harvard School of Public Health. During my time there, smoking was a major cause of death in the US. The government, public health institutions, and civic society came together to fight the cigarette lobby and bring down smoking rates. Even students of public health schools were allowed to engage in advocacy, for free. These are the kind of lessons we have to learn from other countries. Where India is lagging behind is in closing the loop. For instance, it is easy to diagnose anaemia or tuberculosis but it’s difficult to ensure timely treatment.
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Q. Do you see the scope for creating synergy between philanthropy and public health?
My experience leading various campaigns—be it for prevention of osteoporosis, tuberculosis, or polio—has made me realise the power of philanthropies to fight inequities, especially in health care. They can engage in advocacy, influence policy, and promote health equity by partnering with governments, NGOs, and communities.
In a country like India, it’s important that we think in terms of scale and public-private partnerships hold immense potential in this regard. But for that, we need to shift our mindset from mere charity to broader initiatives. The CSR policy has been a positive step to incentivise the private sector but many funds are lying unused in organisations. We have to find better ways to motivate the private sector.
Q. You were the first woman president of Assocham in 90 years. Did you ever feel the need to be more masculine in your leadership style?
Many thought that being a woman, I wouldn’t know anything about complex topics like economy, banking, etc. But as I said earlier, I would always prepare well while dealing with topics I was not familiar with. For instance, when I had to make a presentation before the Reserve Bank of India Governor, I sought the help of my banker friends and read thousands of pages to understand the nuances.
Dealing with iron and steel businesses was a challenge because they had conflicting interests—iron business owners wanted to export while steel businesses opposed it. I brought them to the discussion table and found a solution that satisfied both parties. As women, we are good at solving problems in our families, navigating family dynamics or even mediating between children. These skills can easily be applied at the workplace as well.
I never tried to behave like a man because I wanted to stay authentic. Women have innate strengths of networking, problem-solving, and multitasking. And I believe that we can lead effectively by leveraging these strengths while being our true selves. My voice and demeanour were always controlled. I didn’t even like being photographed with my hands kept in a formal way, which I felt would look more masculine.
Q. What does inclusion mean to you?
Inclusion entails a value system that applies equally to all, irrespective of gender—an environment where everyone feels valued, understood, and appreciated, and have a shared sense of belonging. And that’s something we seek to nurture in our company.
In fact, we have taken inclusion to the wider realm, with a distinct focus on women and youth. The Karuna Fellowship is for women in rural areas who face challenges in their personal lives. They learn computer skills, teamwork, and principles like sewa bhaav and by the end of the programme, they are truly empowered. Some of them have physical or speech disabilities too and it’s inspiring to see their transformation – how they break barriers and engage actively in their communities.
Our Gandhi Fellows undergo two years of training while receiving a stipend and then go on to bring about systemic change in the remotest parts of the country. And all of this work is rooted in sewa bhaav—the spirit of service. They are taught to become ‘impactful millionaires’ – to think in terms of scale while creating impact, an approach rooted in systems thinking.
Q. How can organisations build a nurturing environment for women?
Women should primarily feel safe at the workplace and assured they will have equal opportunities and receive equal recognition as their male colleagues.
I remember the time we set up our R&D Centre. It was hard to find women scientists or a patent attorney. Also, India was rather new to the idea of patenting and many considered copying to be better than innovation. But as a doctor and a pharma industry leader, I was convinced that India had to be a leader in research and innovation if it had to address its unique challenges – particularly certain diseases. Our first patent attorney was a German woman settled in India. She was expecting at that time and I suggested she work from home – a novel concept back then—and work on setting up a patent cell. Today, after two decades, the cell is entirely led by women and has to its credit five patents that have stood up in US courts.
What worked for us was creating a healthy work space, with strict polices to ensure that people communicated respectfully to women, computers were kept clean of inappropriate content, and that talent recognition was based on merit, not gender. We also did small things like ensuring security for those leaving the lab at night. Such gestures went a long way in making them feel valued and led to a steady increase in their numbers. Today, our R&D department has 50 per cent women employees.
Q. Does involving men in gender conversations help in shaping more equitable workplaces?
Absolutely. I think the foundation for this begins in school. We try to educate primary school children in villages on gender equality, gender-based violence, and men’s role in empowering women. These values are instilled in them early in life so that they carry it to their workspaces.
Q. How crucial is mentoring?
Mentorship and networking are imperative to help women navigate individual challenges and advance in their careers. In our company, women at the senior level serve as role models for the younger lot. Family is undoubtedly the priority, but we always emphasise the need to find ways of balancing professional aspirations with responsibilities at home. In Piramal Enterprises Limited, we have 15.8 percent of women in leadership positions. We have an Employee Resource Group called EmpowerHer, a platform for women to connect, share ideas, and collaborate on initiatives that foster diversity and inclusion within the organisation.
As a doctor myself, I realise how difficult it is sometimes for girls to pursue a career in medicine – sometimes they are discouraged by their parents themselves. Medicine is a field where women can excel with their innate trait of compassion. We need to encourage women in the field by showcasing their achievements.
Mentorship has to be a friendly relationship rather than a formal, hierarchical one. It should be a two-way process because I believe there is also a lot to learn from youngsters, especially in this era of technology and social media. Recently, a young colleague came up with an amazing idea – a QR code that can be worn as a pendant that could help locate children with special needs in case they go missing. This could be used in other settings too to ensure safety – in crowded places like a hospital, for instance.
Q. You have served on several Boards. What competitive edge does diversity bring?
Board diversity adds much value to decision-making, and that’s why diligent organisations invest heavily in it. I would like to share my experience on the Board of an Italian-French company. Its legendary chairman interviewed me while he was on a vacation in the Caribbean. He woke up at 3 am to conduct the interview himself because he wanted to be sure if I—as a woman from India—would bring the kind of value he was looking for. And he soon appointed me as head of their CSR committee on climate change. It was a huge learning journey and that has been the case with every board I have been part of.
Q. How can organisations best address the leaking pipeline?
Many women drop off mid-career owing to family commitments but they are a valuable talent pool. They would have substantial experience and would be familiar with the organisational culture. So, it’s easy to reintegrate them into the workforce through skilling programmes. Post Covid, organisations have increasingly started to realise the importance of flexible work arrangements to retain talent.
Women should also be provided platforms to leverage their skills. Early in my career, there were very few women in our sales department and my team was sceptical when I decided to hire a few who had graduated in biotechnology. They proved their expertise in no time—they knew the technical nuances and could easily convince doctors of the efficacy of medicines.
Q. To create a larger pool of women leaders across industries, where should the change begin?
I think it should begin in school, where young girls are encouraged to have the confidence to lead and achieve. When they are in their teens, having a role model or mentor will be really helpful — to guide them and show them that they can contribute equally as men and also excel in what they do.