As women continue breaking barriers across sectors, Fortune India has expanded its Most Powerful Women in Business list in 2025 from 50 to 100 achievers. This move celebrates the growing influence of women across policymaking, business, and beyond, even as the global conversation on diversity, equity, and inclusion gathers momentum.
This year, Finance Minister Nirmala Sitharaman retained the top spot on the list, followed by Reliance Foundation’s chairperson Nita Ambani. In third place are the Reddy sisters of Apollo Hospitals: Shobana Kamineni, Sangita Reddy, Preetha Reddy, and Suneeta Reddy.
Nirmala Sitharaman, Finance Minister
In 2019, when the BJP-led National Democratic Alliance (NDA) came back to power for a second consecutive term, Nirmala Sitharaman became the first full-time woman finance minister almost after five decades of former Prime Minister Indira Gandhi holding the post as additional charge during 1969-70.With the BJP back in power for a third term in 2024, Sitharaman has made a record of tabling eight consecutive Budgets, surpassing the six presented by former finance minister Morarji Desai between 1959 and 1964.
But Sitharaman’s tenure as finance minister transcends the mere tally of the number of Budgets or the longevity of the term. She has managed to establish a distinct identity for the Ministry of Finance.
Nita Ambani, Reliance Foundation
A strong value system is the foundation of a fulfilled and meaningful life, says Nita Ambani, chairperson, Reliance Foundation. She thanks her parents for instilling the importance of caring, tolerance, hard work, respect for elders, and patience during the formative years.“These values continue to guide me,” Ambani tells Fortune India. “I come from a large, happy, and humble joint family... We were 11 girls and one boy, and one of the things that shaped my journey is the equality with which we were raised. Sixty years ago, my parents taught us that whatever boys can do, girls can too. That has stayed with me.”
Reddy Sisters, Apollo Hospitals
Apollo Hospitals Enterprise, India’s largest hospital chain, is deploying artificial intelligence (AI) in a big way to smoothen processes. Over the next couple of years, it plans to add another 2,000 beds to the existing 10,000-plus beds across 73 hospitals, and a Proton Cancer Centre in either Hyderabad or Delhi, in addition to the one in Chennai. Apollo Hospitals is driven by the four daughters of promoter Prathap C. Reddy - Shobana Kamineni, Sangita Reddy, Preetha Reddy and Suneeta Reddy.
Disclaimer: Excerpts from Most Powerful Women – 2025, published originally in Fortune India.
