India secured the fifth position in the global GDP rankings for 2023. Its economy thrives on rapid growth, driven by vital sectors like information technology, services, agriculture, and manufacturing. India’s finance minister, Nirmala Sitharaman, plays a crucial role in sustaining the momentum of one of the top-performing major economies worldwide. With the anticipation surrounding the upcoming 2024 budget, all attention is on the FM and her plans to further elevate India’s economic prospects. As we bid adieu to 2023 Sitharaman has gained global attention for her inclusion in Forbes prestigious list of the world’s 100 most powerful women, marking her fifth consecutive appearance on the annual list.
Sitharaman is just one of the eminent Indian figures featured in the latest list. Other Indian stalwarts in the list are Roshni Nadar, Soma Mondal, and Kiran Mazumdar Shaw. Beyond these four Indian luminaries, Indian-American vice president Kamala Harris holds a prominent position on the list.
“As ever, the 2023 Power List was determined by four main metrics: money, media, impact and spheres of influence. For political leaders, we weighed gross domestic products and populations; for corporate chiefs, revenues, valuations and employee counts were critical. Media mentions and social reach were analyzed for all. The result: 100 women who are shaping the policies, products and political fights that define our world,” Forbes stated while releasing the list.
Global Indian puts the spotlight on the four powerful Indian ladies, highlighting their impact as movers and shakers in their respective fields.
Nirmala Sitharaman
Minister of Finance and Corporate Affairs, Government of India
The ace economist and politician has held the position of Minister of Finance and Corporate Affairs since 2019. Hailing from Madurai, Sitharaman previously served as India’s Defence Minister, becoming the country’s second female to serve in this capacity and later becoming the second female Finance Minister following in the footsteps of late Indira Gandhi. Sitharaman has made history as the first full-time female minister to successfully manage both these prestigious portfolios.
Nirmala Sithraman, Indian in Forbes
Sitharaman is credited with steering India towards achieving the milestone of a $3.8 trillion economy under her adept leadership. She is set to present the union budget 2024 on March 6th, for the sixth consecutive year. “Today as Indians stands with their head held high, and the world appreciates India’s achievements and successes, we are sure that elders who had fought for India’s independence, will with joy, bless our endeavours going forward,” the finance minister had remarked while presenting the 2023 union budget.
Roshni Nadar
Chairperson of HCL Technologies
The prominent Indian billionaire businesswoman, serving as the chairperson of HCL Technologies, holds the distinction of being the first female entrepreneur to helm a listed IT company in India. She also serves as the CEO at HCL Corporation, the overarching entity encompassing all HCL Group subsidiaries. Raised in Delhi by her parents Shiv Nadar, the founder of HCL, and Kiran Nadar, Roshni had many prior professional engagements before joining HCL Group. In HCL, she was previously involved as a trustee of the Shiv Nadar Foundation before assuming the position of CEO at HCL Corporation.
Roshni Nadar, Indian in Forbes
Under Roshni’s leadership, the organization has been reaching unprecedented heights and currently stands among the top fifteen global technology companies, boasting a revenue exceeding $10 billion. “I am pleased to share that HCLTech delivered another year of strong growth despite challenging macro-environment and geo-political headwinds. The credit goes to the passion and commitment the global team of over 220,000 HCLTechies and to you for your continued support to the company,” she remarked in the organisation’s 31st annual general meeting held in August this year.
Soma Mondal
Chairperson of Steel Authority of India (SAIL)
Hailing from Bhubaneswar, Soma Mondal holds the distinction of being the first woman to serve as the functional director and subsequently as the chairperson of SAIL. Commencing her career after graduating with an electrical engineering degree from NIT Rourkela, Soma embarked on a 35-year journey, commencing as a trainee with NALCO. Joining SAIL in 2017 as its director for commercial operations, she ascended to the position of Chairperson three years later in 2020.
Soma Mondal, Indian in Forbes
Mondal’s impact has been significant, contributing to a remarkable 50 percent surge in SAIL’s revenue, surpassing ₹ one lakh crore after she assumed the role of its chairperson. Her stature within the aluminium industry has grown, making her a widely respected and influential figure today. “In the early years, family responsibilities make a huge demand on time and energy but preparing for this through a support system, time management and optimal use of choices will go a long way. Today’s women are much smarter and more confident. In the coming years, we will see many more in our workforce and management,” she told in an interview with Business World.
Kiran Mazumdar-Shaw
Executive chairperson and founder of Biocon Limited and Biocon Biologics Limited
The billionaire entrepreneur, was born in Bangalore to Gujarati parents and has become a recognizable figure in Forbes’ list of the 100 Most Powerful Women year-after-year. Throughout her career, she has been driven by the vision of affordable innovation, making it a central philosophy to broaden Biocon’s outreach. With a strong desire to offer cost-effective medications to economically challenged nations, Mazumdar has endeavoured to pioneer budget-friendly techniques and economical alternatives within and outside India.
Kiran Mazumdar Shaw, Indian in Forbes
Ranked among India’s wealthiest self-made women, Kiran has successfully ventured into the lucrative Western markets and oversees the operations of Asia’s largest insulin manufacturing facility, located in Malaysia. “Today, the birth of daughters are being celebrated, and women are making India proud in each and every field, be it sports, science, entertainment, defence or aviation. I believe, this is a big achievement, not only for this government, but for each and every Indian woman,” she wrote on her blog.
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