BEHIND THE 67-year-old Nitin Gadkari’s soft-spoken and gentle demeanour lies a steely resolve. One conversation with the minister of road transport and highways tells you that he is a man in mission mode. The plan: to transform India’s highways infrastructure, take it to global standards, and be an ambassador for green mobility along the way.

Ever since 2014, Gadkari’s ministry has been rolling out modern highways criss-crossing the country, to cut down travel time and logistics costs. From a time when investors used to shy away from getting into the roads sector and banks were wallowing in NPAs as a result of stalled projects, today’s highways story is a mix of speedy implementation, hassle-free clearances, and an ambition to be on par with global standards. The national highways network has gone up from 91,287 km in 2014 to 146,195 km as of December 2024. “Beginning 2014 and continuing well into the next two years, we would have invested about ₹50-60 lakh crore in national highway infrastructure projects,” Gadkari tells us.

In our cover story, we take a close look at Gadkari’s game plan to transform India’s mobility sector. Innovative financing models have also helped, and the minister makes it clear that funding the projects is the least of his worries as the infrastructure investment trust (InvIT) model has proved to be a way for the common man to participate in large-scale infrastructure projects. “In the next two years, the picture of the Indian roads will change,” he tells my colleagues Ashutosh Kumar and V. Keshavdev. As India moves ahead towards fulfilling its Viksit Bharat ambition, the mobility infrastructure being built is proving to be a crucial building block.

This issue also brings you the maiden listing of 100 Emerging Stars — midsize companies that are proving to be tomorrow’s outperformers. These companies, outside the Fortune 500 India universe, are ranked according to net sales, but have passed through several other vital parameters: sustained top-line growth, healthy profit generation, and capital-efficient operations, all critical for generating long-term shareholder value. The stories of some of these companies, which you will read in this issue, will make it clear why we call them Emerging Stars. This list is evidence that there is depth in corporate India that goes well beyond the biggest companies — there are several other firms showing the way to sustained and profitable growth.

Talking of the corporate sector, one can hardly overemphasise the subject of regulation. In an exclusive conversation with Fortune India, Tuhin Kanta Pandey — the new chief of the Securities and Exchange Board of India (Sebi) — tells us how he sees his role and what the road ahead for the stock market regulator will be. A star bureaucrat, Pandey makes it clear that while “optimum regulation” will be his mantra, Sebi will come down hard on those who do not abide by the rules.

Meanwhile, as summer is upon us and holidays beckon, I would also urge you to take a look at Unwind, our special leisure supplement where we get you the best getaways, the finest hotels and cuisines, immersive holiday options, and more.

Happy reading!