Forbes has released its 21st annual list of The World’s 100 Most Powerful Women, spotlighting leaders and changemakers across industries like business, entertainment, politics, philanthropy, and policymaking. Among the influential figures recognized this year are three Indian women who have demonstrated exceptional achievements in their respective fields.
Nirmala Sitharaman (#28)
Ranked 28th on the list, Nirmala Sitharaman serves as India’s Minister of Finance and Corporate Affairs. She made history in May 2019 by becoming the first woman to hold these positions full-time, and she was reappointed after the 2024 general elections. Tasked with overseeing India’s nearly $4 trillion economy—the fifth largest globally—Sitharaman has projected that India will surpass Japan and Germany to become the third-largest economy by 2027.
An advocate for women’s financial empowerment, she has spearheaded initiatives supporting entrepreneurship, access to credit, and financial literacy among women. Before entering politics, Sitharaman worked at the Agricultural Engineers Association in the UK and BBC World Service. She also served on India’s National Commission for Women.
Roshni Nadar Malhotra (#81)
At number 81, Roshni Nadar Malhotra is the Chairperson of HCL Technologies, one of India’s leading IT services firms, and the CEO of HCL Corporation. She oversees strategic decisions for the $12 billion enterprise founded by her father, Shiv Nadar, in 1976.
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In addition to her corporate role, Malhotra is a trustee of the Shiv Nadar Foundation, which focuses on transformative education and has established several premier institutions in India. She also founded The Habitats Trust, dedicated to conserving natural habitats and indigenous species. With a background in journalism and an MBA from the Kellogg School of Management, she continues to shape the future of education and conservation in India.
Kiran Mazumdar-Shaw (#82)
Ranked 82nd, Kiran Mazumdar-Shaw is a pioneer in biotechnology and the founder and chairperson of Biocon, a biopharmaceutical company she established in 1978. Over the years, Biocon has expanded into international markets, including the US, and operates one of Asia’s largest insulin manufacturing facilities in Malaysia.
Mazumdar-Shaw’s accomplishments include Biocon Biologics’ $3.3 billion acquisition of Viatris’ biosimilars business in 2022 and the IPO of Biocon-backed Bicara Therapeutics, which raised $362 million on Nasdaq in September 2024. Despite her initial aspiration to become a doctor, she carved a new path and emerged as one of India’s most successful entrepreneurs. In 2019, she and her late husband, John Shaw, donated $7.5 million to the University of Glasgow to advance cancer research. Her company is also collaborating on antibody therapy for coronavirus variants.
The inclusion of Nirmala Sitharaman, Roshni Nadar Malhotra, and Kiran Mazumdar-Shaw in Forbes’ prestigious list underscores the global impact of Indian women leaders. Their remarkable contributions continue to inspire and pave the way for future generations of changemakers.
