Kotak Mahindra's Shanti Ekambaram tops 2025 Women Leaders list, says Hurun

The 2025 Candere Hurun India Women Leaders List represents India's corporate landscape reshaped by visionary women leaders who set new standards in governance, innovation, and financial growth.

India’s corporate landscape is being redefined by visionary women leaders who are collectively steering businesses valued at over ₹11.7 trillion. Topping the list of professionals is Shanti Ekambaram (62), Deputy Managing Director of Kotak Mahindra Bank, who leads innovation in digital banking and financial inclusion, according to the 2025 Candere Hurun India Women Leaders List — a collaborative effort by Candere and Hurun India.

The report highlights 97 exceptional Indian women driving impact across five crucial pillars: wealth creation, value creation, philanthropy, start-ups, and culture. Ekambaram is joined by an elite group that includes:

• Parminder Chopra (57), Chairperson and Managing Director of Power Finance Corporation, overseeing a company valued at ₹1.44 trillion
• Vibha Padalkar (56), Managing Director and CEO of HDFC Life Insurance, who has propelled the company to a prominent position through strategic growth
• Hina Nagarajan (59), Managing Director and CEO of United Spirits (Diageo India), leading a ₹1.06 trillion enterprise
• A. Manimekhalai (58), Managing Director and CEO of Union Bank of India, driving innovation in banking
• Shveta Arya (45), Managing Director of Cummins India, championing clean energy initiatives
• Prabha Narasimhan (52), Managing Director and CEO of Colgate-Palmolive India, strengthening the company’s leadership in personal care
• Swati Dalal (57), Managing Director of Abbott India, prioritising healthcare accessibility
• Eranti Sumithasri (52), Chairperson of Schaeffler India, heading a ₹507 billion enterprise in automation
• Vishakha Mulye (55), CEO of Aditya Birla Capital, a key player in the financial services industry

Top 10 Professionals

 

 

Top-Ranked/Notable Women Leaders Across Multiple Categories 

 

2. First-Generation Wealth Creators: Building Empires from Scratch

 

These self-made women have not only built billion-dollar businesses but also shaped industries and economies, creating a combined wealth of nearly ₹2 trillion.

• Radha Vembu (52), Co-founder of Zoho, leads this category with a staggering wealth of ₹553 billion, driving Zoho’s global expansion.
• Jayshree V. Ullal (63), Chief Executive Officer of Arista Networks, follows closely with ₹489 billion, shaping the future of cloud networking.
• Kiran Mazumdar-Shaw (71) and family, Founder and Chairperson of Biocon, has revolutionised global healthcare with ₹320 billion in wealth.
• Falguni Nayar (61) and family, Co-founder, Chairperson and Chief Executive Officer of Nykaa, has reshaped India’s beauty and retail landscape with ₹290 billion.
• Neha Narkhede (41) and family, Co-founder of Confluent, is a self-made tech leader with ₹68 billion.
• Indra K. Nooyi (69), former Chief Executive Officer of PepsiCo, remains a key figure with ₹48 billion, continuing to champion work–life balance and women’s leadership.
• Juhi Chawla (57) and family, Co-owner of Knight Riders Sports, has successfully transitioned from Bollywood to sports entrepreneurship.

3. Next-Generation Leaders: Expanding Legacies with Innovation

 

These ten legacy makers are expanding family businesses through modernisation and global outreach, collectively commanding a company valuation of over ₹12 trillion.

• Roshni Nadar Malhotra (43), Chairperson of HCL Technologies, leads this group, driving global expansion for a company valued at ₹4.87 trillion.
• Priya Agarwal Hebbar (35), Chairperson of Hindustan Zinc, focuses on cost optimisation and business expansion for a company valued at ₹1.97 trillion.
• Nisaba Godrej (46), Executive Chairperson of Godrej Consumer Products, has modernised the company by expanding sustainable product lines.
• The Reddy sisters (Preetha, Shobana, Suneeta and Sangita) from Apollo Hospitals Enterprise exemplify leadership in healthcare, with their company valued at ₹976 billion.
• Vinita Gupta (56), Chief Executive Officer of Lupin, has played a key role in transforming the company into a global pharmaceutical leader.
• Farah Malik Bhanji (48), Managing Director of Metro Brands, is driving nationwide expansion and digital transformation.

 

4. Investors: Fuelling India’s Startup Ecosystem

 

An increasing number of women are taking key decision-making roles in India’s investment landscape, actively funding startups and transforming industries.

• Shweta Jalan (48), Managing Partner of Advent International, is a prominent figure in private equity.
• Nruthya Madappa of 3one4 Capital Advisors focuses on digital health, software as a service (SaaS), and fintech.
• Vani Kola (60), Founder and Managing Director of Kalaari Capital, contributes to the success of SaaS, consumer, and femtech ventures.
• Padmaja Ruparel (62), Co-founder of IAN Group, has built one of India’s largest angel investment networks.
• Priyanka Chopra (48), Chief Executive Officer and Managing Partner at IIM A Ventures, supports deep tech and climate tech businesses.

5. Philanthropy: Redefining Giving for Social Impact

These visionary women are driving transformative change, ensuring their wealth creates a sustainable and long-lasting impact, with a combined contribution of ₹464 crore.

• Rohini Nilekani (65) leads this pillar, having contributed ₹154 crore, focusing on policy reform and civic engagement.
• Susmita Bagchi (64), Co-founder of Mindtree, ranks second with a donation of ₹90 crore, significantly advancing affordable cancer care.
• Kiran Mazumdar-Shaw (71), Founder and Chairperson of Biocon, ranks third with donations of ₹85 crore, primarily supporting science, research, and education.
• Anu Aga (82) and family, through the Thermax Foundation, emphasise education for underprivileged children.
• Radha Vembu (52), Co-founder of Zoho, donated ₹11 crore towards women’s empowerment, rural development, and education.

 

Young trailblazers and enduring icons

The list also highlights the dynamism of young women leaders and the enduring influence of seasoned veterans. Devanshi Kejriwal (28) of Skillmatics is the youngest on the list, reimagining early learning with eco-friendly educational games. Joining her among young leaders are Ananyashree Birla (30), Founder, Chairperson and Managing Director of Svatantra Microfin, who is transforming financial inclusion in India, and Isha Ambani (33), Executive Director of Reliance Retail, who is shaping the future of retail.

At the other end of the spectrum, Arpita Singh (87), a distinguished artist, is the oldest woman on the list, demonstrating that true influence deepens with age and experience. Her first solo international exhibition at Serpentine North, London, showcased six decades of her work.

“From the meteoric rise of Roshni Nadar into the world’s top 10 richest women to the strategic philanthropy of Rohini Nilekani, and the surge of women-led innovation in AI, sustainability and culture, this list is more than a ranking—it is a testament to the transformational impact women are making across India’s economy. Together, Hurun India and Candere celebrate the achievements of these trailblazers, inspiring the next generation of changemakers to reshape India’s future,” said Anas Rahman Junaid, founder and chief researcher of Hurun India.

The 2025 Candere Hurun India Women Leaders List also recognises the profound impact of women in the digital space. Indra Nooyi (69), former Chief Executive Officer of PepsiCo, continues to command the highest social media following with over 1.54 million LinkedIn followers, even after her retirement.

In the realm of influencer founders, Mrunal Panchal (26), founder of MRUCHA Beauty, tops the list with 5.5 million Instagram followers, showcasing her entrepreneurial spirit. Among celebrity investors, Shraddha Kapoor (37) leads with an impressive 94.1 million Instagram followers, backing several emerging consumer brands. Other prominent celebrity investors include Priyanka Chopra (42), Co-founder of Purple Pebble Pictures and Anomaly Haircare; Alia Bhatt (31), Founder of Ed-a-Mamma; and Deepika Padukone (39), Co-founder of KA Productions and 82°E.

Other key highlights

Mumbai leads: The financial capital, Mumbai, emerges as the primary hub for India’s most influential women, home to 38 of the featured leaders.

Youthful energy: The average age of women on the list is 51, with a significant 25 per cent falling between the ages of 26 and 35, indicating a strong emergence of young talent.

Educational excellence: Indian institutions like Delhi University (13) and Mumbai University (9) are the top undergraduate choices, while global powerhouses Harvard University (5) and Stanford University (4) lead in postgraduate representation.

Financial sector dominance: The financial services sector features prominently, with five women collectively managing companies valued at ₹7.9 trillion in banking, insurance and lending.

Self-made success: First-generation wealth creators like Radha Vembu (Zoho) and Falguni Nayar (Nykaa) demonstrate remarkable entrepreneurial journeys, building a combined wealth of nearly ₹2 trillion.

List size: The list features 97 women leaders across nine categories, rooted in five core pillars of the Indian economy: wealth creation, value creation, philanthropy, culture and start-ups.

Young representation: Twenty-five per cent of the women featured are aged between 26 and 35 years, reflecting a significant presence of young leaders across all nine categories.

Top undergraduate institutions: At the undergraduate level, Delhi University (13) and Mumbai University (9) are the most represented institutions.

Top postgraduate institutions: At the postgraduate level, Harvard University (5) and Stanford University (4) are the most represented global institutions.

Professional leader: Shanti Ekambaram, Deputy Managing Director of Kotak Mahindra Bank, leads the list of women professionals in the country.

First-generation wealth creator: Radha Vembu, Co-founder of Zoho, tops the list of first-generation wealth creators with a net worth of ₹55,300 crore.

Next-generation leader: Roshni Nadar Malhotra, Chairperson of HCL Technologies, leads the next-generation women leaders list, with HCL valued at ₹4.87 trillion.

Philanthropy leader: Rohini Nilekani leads the philanthropy pillar, with total donations amounting to ₹154 crore.

Youngest on the list: Devanshi Kejriwal, 28, from the Young Women Leaders category, is redefining early learning as Co-founder and Chief Product Officer of Skillmatics.

Oldest on the list: Featured among India’s top 10 women artists, Arpita Singh, aged 87, is the oldest woman on the list.

Highest social media following (corporate): Indra Nooyi, former Chief Executive Officer of PepsiCo, continues to command the highest social media following with over 1.54 million LinkedIn followers.

Top influencer founder: Mrunal Panchal tops the list of leading women influencer founders with 5.5 million Instagram followers.

Top celebrity investor: The ‘most followed celebrity investor’ category is led by Shraddha Kapoor, who boasts an impressive 94.1 million Instagram followers.

Most represented sector: By sector, financial services is the most represented in the list, with 23 women leaders, followed by consumer goods with 18 leaders.

Most common sun sign: Among the sun signs featured in the list, Scorpio leads with 14 per cent representation, followed by Virgo at 13 per cent.

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 Disclosure: Entities controlled by the Kotak family have a significant holding in Business Standard Pvt Ltd