India’s women wealth creators command over ₹2 lakh crore: Candere Hurun list

India’s most powerful women have created more than ₹2 lakh crore in self-made wealth and helm companies valued at over ₹12 lakh crore. That’s the big takeaway from the 2025 Candere Hurun India Women Leaders List, which features 95 women rewriting the rules of business, leadership, influence, and impact across the economy. “The list, which currently excludes politicians, will continue to expand in the years to come,” Anas Rahman Junaid, Founder and Chief Researcher, Hurun India, told Fortune India.

From first-generation entrepreneurs building global empires to second-generation leaders modernising legacy institutions, from startup founders driving tech-led change to philanthropists creating long-term social capital, this inaugural list is an expansive mapping of ambition and achievement. “The list is built on five core pillars — wealth, value, philanthropy, culture, and start-ups — offering a data-backed and wide-angle view of women powering India’s next chapter,” Junaid told Fortune India. With an average age of 51, a striking 25% names on the list are aged between 26 and 35, reflecting strong young leadership across all nine categories.

At the very top is Radha Vembu of Zoho, whose ₹55,300 crore net worth makes her India’s richest self-made woman. She is followed closely by Jayshree Ullal of Arista Networks (₹48,900 crore) and Kiran Mazumdar-Shaw of Biocon (₹32,000 crore), all three of whom exemplify the first-generation wealth creator archetype. Alongside Falguni Nayar (Nykaa), Neha Narkhede (Confluent), and Kavitha Subramanian (Upstox), these women have built platforms that touch millions of users and generate billions in value — the top ten wealth creators on the list together represent over ₹2 lakh crore in personal wealth. Importantly, most of them did it without legacy backing, breaking into industries long dominated by male-led enterprises.

Interestingly, Mumbai dominates as India’s leadership capital, with 38 of the 95 women based in the city. Delhi (12) and Bengaluru (10) follow. On the academic front, Delhi University (13) and Mumbai University (9) lead undergraduate representation, while Harvard and Stanford dominate globally. The new India is still city-centric, but these leaders’ impact stretches far beyond where they live.

A new era of legacy leadership

The list's "Next-Generation Women Leaders" category features women who’ve taken the baton and run with it — modernising, digitising, and expanding inherited businesses into global brands. At the forefront is Roshni Nadar Malhotra, now the majority shareholder in HCL Technologies, which is valued at ₹4.87 lakh crore. Her rise to becoming India’s third-richest individual came after Shiv Nadar’s 2025 gift of 47% of HCL’s shares, and she now embodies strategic succession in Indian business. Others in this category include Priya Agarwal Hebbar (Hindustan Zinc), Nisaba Godrej (Godrej Consumer), and Vinita Gupta (Lupin), as well as the Apollo Hospitals quartet of Preetha Reddy, Suneeta Reddy, Sangita Reddy, and Shobana Kamineni, who collectively manage a ₹97,600 crore enterprise. Whether through digitisation, ESG-led modernisation, or global expansion, these women are not just preserving family brands — they are rewriting them for a new world.

Women running India Inc

Finance remains the strongest bastion of female leadership in India today, with 23 of the 95 honourees coming from this sector. Shanti Ekambaram, Deputy MD at Kotak Mahindra Bank, tops the professionals list; her company is valued at ₹3.82 lakh crore. Vibha Padalkar of HDFC Life, Parminder Chopra of Power Finance Corp, and Vishakha Mulye of Aditya Birla Capital are also key players. Collectively, women leaders in finance manage close to ₹8 lakh crore in company value. But the presence is not limited to finance — women are driving leadership in consumer goods (18 honourees), healthcare (14), and food & beverages (9). Hina Nagarajan’s tenure at United Spirits saw the stock rise 119% before she moved on to a global role at Diageo Africa. A. Manimekhalai at Union Bank has delivered a 190% share price jump since 2022. These aren’t symbolic appointments — these women are demonstrably outperforming the market.

The influencers

The list also features the rise of influencer-founders and celebrity investors. Mrunal Panchal, 26, founder of MRUCHA Beauty, tops the influencer list with 5.5 million Instagram followers. Shraddha Kapoor leads among celebrity investors with a massive 94.1 million following and investments in MyGlamm, Koo, and Chargeup. Priyanka Chopra features across multiple dimensions — as a media entrepreneur, beauty brand founder, and philanthropist. The underlying message is clear: influence today flows from multiple sources — media, brand building, content, capital — and women are navigating all of them simultaneously.

A new rising

A strong contingent of young women dots the list, with 25% of the honourees aged 35 or younger. Devanshi Kejriwal (28), co-founder of Skillmatics, is the youngest and represents a new class of women founders redefining education, health, and lifestyle. Isha Ambani (33) continues to steer Reliance Retail into luxury and tech-led expansion. Ananyashree Birla (30) is scaling microfinance through Svatantra. Parita Parekh (Toddle), Vrushali Prasade (Pixis), Romita Mazumdar (Foxtale), and Adwaita Nayar (Nykaa Fashion) are all under 35 and pushing boundaries across sectors. The old narrative that women arrive at the top later in life is being rewritten — many are building enduring platforms before turning 35.

Several of the wealth creators are also leading philanthropists. Rohini Nilekani tops the list with ₹154 crore in donations focused on ecosystem-building and civic engagement. Kiran Mazumdar-Shaw, Radha Vembu, Anu Aga, and Leena Gandhi Tewari also make the cut. Whether through education, rural development, or institutional reform, their giving reflects the same strategic clarity they bring to business.