THERE WAS A TIME when we, as cub reporters, would ask chief executives what their companies would look like a decade later. Cut to 2025. Today, while the broad objectives of a company may be clear, operational strategies are only good for two or three years at best. Course correction is inevitable, given the constant disruptions CEOs must deal with: geopolitics, supply chains, or trade and tariffs. ITC Ltd chairman Sanjiv Puri calls it ‘TURN’ — turbulence, uncertainty, rapid change, leading to novel strategies. A key weapon in tackling these rapid changes is technology. As the India findings of the ‘EY-Parthenon CEO Outlook Survey: Global Confidence Index 2025’ released earlier this year show, 86% of CEOs recognise the pivotal role of emerging technologies, marking them as a key investment priority for the next 12 months. In fact, 90% believe successful AI adoption and workforce upskilling will define industry leaders. Reliance Industries (RIL) chairman Mukesh Ambani says it loud and clear: “AI will not replace people, but people who use AI will replace those who don’t.”

The annual Fortune India special issue of India’s Best CEOs comes to you against this background of rapid change. These are leaders who have been able to execute business transformations to navigate the current, uncertain environment and have shown the courage to lead from the front. Whether it is by venturing into new areas of growth, embracing new technologies, or through relentless innovation, they have been able to ensure consistent performance and reward shareholders. The process of selecting these extraordinary leaders this year began when Fortune India’s journalists sat down with our Knowledge Partner EY India to sift through the data, analyse the figures, and create a shortlist based on performance parameters. The list is based on data extracted for the past three fiscals — FY23, FY24, and FY25 — for all listed companies in the Capitaline database. The shortlist was then placed before a stellar jury comprising Dr. Sanjiv Goenka (Jury Chair), Zia Mody, K.V.S. Manian, Prashant Jain, Devina Mehra, and Dinesh Kanabar, who then picked the final 33 winners.

The winners represent a cross-section of companies in terms of size and sector, but there is one common thread — these are leaders who have demonstrated excellence in leadership and navigated challenges successfully to ensure their companies win in the marketplace. Mukesh Ambani was adjudged the ‘Best of the Best’ for his exemplary leadership of the oil-to-retail behemoth, which is on a path of constant innovation driven by cutting-edge technology and new ideas. Whether it is in the energy sector or in telecom or retail, Ambani’s vision has ensured RIL remains at the forefront of technological advancement and rapid transformation. As Ambani himself says: “We don’t say impossible. We just say, give me two weeks and I will make it possible.”

This year’s Lifetime Achievement award goes to K.V. Kamath, the iconic banker who is credited with transforming India’s banking landscape by rewiring developmental financial institution ICICI into today’s cutting-edge ICICI Bank. The gentle titan of India’s financial sector has spawned a generation of leaders in banking and finance. As former Axis Bank CEO Shikha Sharma tells us: “A distinguishing feature of leaders who make a big impact is that they see ahead of others.”

Kamath saw many, many years ahead.