The number of women on corporate boards in India more than doubled in the past six years, from 5.5% in 2010 to 11.2% in 2015, a report issued by financial services company Credit Suisse on Tuesday said. The company’s bi-annual CS Gender 3000: Women in Senior Management report said gender diversity in Indian companies at the uppermost levels has equalled the global average of 14.7%, according to PTI.

However, diversity at the management level in the country has come down to 7.2% from 7.8% in 2014, the report said. India also ranks second-lowest in the Asia-Pacific region with respect to the representation of women at the senior management level. The firm’s head of Global Markets Research Stefano Natella said, “Gender diversity in both board and particularly senior management positions is a tremendous benefit to companies and their shareholders.”

Of the 265 companies in the Asia-Pacific region with over $10 billion (approximately Rs 66,532 crore) in market capitalisation, those with at least one woman on their board outperformed their share prices by 58% between 2006 and July 2016, according to Business Standard. Natella said that data showed a strong correlation between the gender diversity within a company and its performance.