Chanda Kochhar, the head of India’s largest private sector bank ICICI Bank, has been named the most powerful woman in Indian business, followed by another banker and ex-colleague Shikha Sharma, who is now the managing director of Axis Bank.
The list, compiled by Fortune Magazine, ranks the 50 most powerful businesswomen in the country.
Kochhar and Sharma are followed by tractor major TAFE’s chairperson Mallika Srinivasan, Capgemini India CEO Aruna Jayanthi, AZB Partners co-founder Zia Mody and Britannia Industries managing director Vinita Bali.
Two other former ICICI executives — JP Morgan India CEO Kalpana Morpariaand Multiples Alternate Asset Management’s founder and CEO Renuka Ramnath, also feature in the league in the 16th and 20th positions respectively.In terms of salary, however, Sun TV Network’s joint MD Kavery Kalanithi is at the top with an annual salary of $ 13.09 million (Rs65 crore) while Jindal Steel chairman Naveen Jindal is the highest paid businessman with a salary of $13.66 million (Rs68.3 crore).
Jindal is followed by Sun TV Network chairman Kalanithi Maran.
The husband of Kavery Kalanithi takes home an identical pay packet as his wife at $13.09 million.
Notable exceptions in the list include Reliance Industries chairman Mukesh Ambani, who was the highest paid executive in 2007-08. Ambani has since then fixed his pay at around R15 crore.
Despite topping the power list, Kochhar does not find a place among the 10 highest paid women executives in the country.