“Women-led wealth creation directly improves women’s employment"
HCL Technologies chairwoman Roshni Nadar Malhotra continues to be India’s wealthiest woman for the second year in a row.
She is worth Rs. 84,330 Crore (£8.6 billion), an increase of 54%.
Second place has seen a change, with Nykaa’s founder Falguni Nayar overtaking Biocon’s Kiran Mazumdar-Shaw.
By doing so, Falguni becomes the wealthiest self-made Indian woman, with a wealth of Rs. 57,520 Crore (£5.9 billion).
The wealth of the 100 richest women in India has increased and their details were compiled as part of the ‘Kotak Private Banking and Hurun India – Leading Wealthy Women List’.
In 2021, the women on the list had an average wealth of Rs. 4,170 Crore (£430 million) while in 2020, the average was Rs. 2,725 Crore (£280 million).
But despite the increase in wealth, the gender disparity is stark.
While the wealth of the top 100 women is 2.8% of the GDP, the top 100 in Hurun’s overall rich list accounted for nearly 39% of the GDP.
According to Anas Rahman Junaid, chief researcher at Hurun India, there is a correlation between women’s participation in management and being on the rich list.
Anas said: “Women-led wealth creation directly improves women’s employment, corresponding families, and society.
“The inclusion of women, who represent 50% of India’s population in the workforce or wealth creation, cuts across societal barriers.
“And therefore, wealth creation stories of women entrepreneurs and professionals bind us with emotion and the inspiration to work towards a more inclusive tomorrow, one which we have strived to achieve through the Kotak Private Banking Hurun Leading Wealthy Women List 2021.”
Three professional managers made it onto the list, led by Pepsico’s Indra Nooyi with a wealth of Rs. 5,040 Crore (£520 million).
The other two are Renu Sud Karnad of HFDC and Shanti Ekambaram of Kotak Mahindra Bank.
This is due to the gains in the value of the shares they received as executives.
The list also saw 25 new names. This is led by Neha Narkhede, co-founder of streaming data technology company Confluent.
She has a wealth of Rs. 13,380 Crore (£1.3 billion) and is the only woman to feature in the ‘Hurun Global U40 Self-made Billionaires List 2022’.
Oisharya Das, CEO – Private Banking, Kotak Mahindra Bank, said:
“Each woman’s journey is unique; however, what is common among them is the drive, commitment and passion to succeed.”
“Over the years, Indian women are slowly yet surely coming into their own – carving a space for themselves through knowledge, excellence, passion, and empathy.
“We are honoured to partner with Hurun India and celebrate the unrelenting spirit of 100 such women leaders – women who are living their purpose, blazing a new trail and inspiring millions of young and aspiring women.”