Forbes has revealed its 2024 list of the World’s 100 Most Powerful Women, spotlighting leaders who have made a global impact. India’s Finance Minister, Nirmala Sitharaman, ranks 28th on the list, marking her third consecutive appearance. She was ranked 36th in 2022, 32nd in 2023, and has climbed to the 28th spot in 2024.

HCL Technologies Chairperson Roshni Nadar Malhotra secured the 81st position, while Kiran Mazumdar-Shaw, founder of Biocon, is ranked 82nd. Mazumdar-Shaw established Biocon in 1978, building it into a leading biopharmaceutical company with a strong footprint in the U.S. market.

This is the ‘Forbes’ 21st annual ranking of the world’s most powerful women. The list celebrates who have pushed boundaries and revolutionized their fields, nations, and organizations.

Forbes‘ Insights

Nirmala Sitharaman – 28th Rank

Age- 65

India’s Finance and Corporate Affairs Minister Nirmala Sitharaman ranked 28th on Forbes’ 2024 list. In 2019, she made history as the first woman to take on these roles full-time and was reappointed in 2024. Earlier in her career, Sitharaman served as India’s Defence Minister from 2017 to 2019, becoming only the second woman to hold this position. Currently overseeing India’s $4 trillion economy fifth largest in the world. Sitharaman has been outspoken in favour of women’s economic empowerment in India, encouraging entrepreneurship, business lending and financial education for her country’s female population. She foresees the nation becoming the third-largest economy by 2027. This marks her third consecutive appearance on the Forbes list. She ranked 36th in 2022, 32nd in 2023, and now rises to 28th in 2024.

Roshni Nadar Malhotra – 81st Rank

Age- 43

Roshni Nadar Malhotra has ranked 81st on the Forbes list. She serves as the chairperson of HCLTech, a leading multinational IT services and consulting firm based in India. She made history as the first woman to lead a publicly listed IT company in the country. Additionally, she is the CEO of HCL Corporation, which oversees all entities under the HCL Group.

The daughter of Shiv Nadar, the founder of the HCL Group, Roshni is responsible for all strategic decisions for the $12 billion technology company. Founded by her father in 1976, HCL played a pivotal role in establishing India as a global IT hub. She assumed the role of chairperson from her father in July 2020.

Roshni is also a trustee of the Shiv Nadar Foundation, which is dedicated to transforming education in India and has established some of the country’s premier colleges and schools. According to The Financial Express, her net worth of ₹84,000 crore places her among the wealthiest individuals in India.

This marks the first time Roshni Nadar Malhotra has been featured on the Forbes list.

Kiran Mazumdar-Shaw- 82nd Rank

Age- 43

Kiran Mazumdar-Shaw, ranked 82nd on Forbes’ 2024 list, is one of India’s richest self-made women. She founded the biopharmaceutical firm Biocon in 1978, which has successfully entered the lucrative U.S. market. She currently serves as the executive chairperson of Biocon Limited and Biocon Biologics Limited.

Biocon operates one of Asia’s largest insulin manufacturing facilities, located in Malaysia’s Johor region. In 2022, Biocon Biologics acquired the biosimilars business of U.S. drugmaker Viatris for $3.3 billion.

However, the company faced controversy in the same year when the Central Bureau of Investigation arrested a Biocon Biologics executive and four others in connection with an alleged bribery case. Biocon denied any wrongdoing. In September 2024, Biocon-backed cancer therapy company Bicara Therapeutics raised $362 million through an IPO on Nasdaq.

Kiran Mazumdar-Shaw has also ranked 91st on Forbes’ 2024 India’s 100 Richest list. Her net worth is estimated at $3.2 billion.