The second annual Fortune India list of the hottest 40 under 40 shows exactly what’s going right in India. Based on the iconic 40 Under 40 list launched by Fortune, this definitive list features India’s first-generation young stars in businesses as diverse as biotech, e-retail, data analytics, investment banking, and mobile advertising. Not all are entrepreneurs; there’s a fair share of managers and executives in (or headed to) the C-suite. The 40 under 40 list showcases the future leaders of India Inc. who are generating wealth, not just for themselves but for their employees and investors. And remember, these young leaders have just got started.

The special issue in this edition is India’s Future-ready Workplaces, an annual study by Fortune India and CIEL HR of organizations that are deploying innovative employee-engagement initiatives at the intersection of HR and strategy that are designed to keep their firms ready for the future. The package also captures how firms are dealing with the challenges of working with multi-generational workforce; ESG & sustainability at workplace.

Our cover story this issue is on L&T’s tech avatar— How India’s largest engineering company is shedding the baggage of construction to reinvent as a tech-enabled firm.

THE NEXT 500: INDIA'S LARGEST EMERGING COMPANIES
Our special package this month is the coveted ‘The Next 500’ list, which ranks India’s largest emerging companies. Those who are not yet large enough to be in the Fortune 500 India list but are neither short on ambition, nor growth trajectory.

This Budget Special issue carries a special package on India’s ongoing infrastructure makeover with 10 of the most critical projects in the works and a tale of two airports in Navi Mumbai and Noida, which have been promised for two decades each but are only being delivered now. This Fortune India special issue takes you on a journey that will culminate with the sequelof the full Budget in July once the new government is sworn-in.

BEST INVESTEMENTS 2024: It’s that time of the year when everyone — from the middle class to the well-to-do and from ultra-rich to the poorest — plans how to handle their money in the New Year. Fortune India’s annual special issue on ‘Best Investments’ is our contribution to help in those vital decisions regarding your financials. Led by Fortune India-Morningstar’s annual Best Mutual Funds study and Fortune India-SecureNow’s annual Best Insurers study, it also includes the customary private wealth roundtable where India’s leading money managers provide their recommendations for the year, outlook on digital assets such as cryptos, gold or real estate. 
In this year’s overview, V. Keshavdev explains why volatility will rule all investment decisions in 2024. We do hope our ‘Best Investments’ special issue and the accompanying pre-Budget package provide you with valuable insights to plan your investments in the New Year.

Happy investing! Fortune India wishes you, dear readers, a very Happy, Peaceful and Prosperous Year 2024!

Our Special Issue this month is Fortune’s flagship offering globally — the 500 largest companies. This year’s Fortune 500 India list provides evidence that Covid is well and truly behind us and India Inc.’s belt tight-ening during the preceding slowdown has now set it up for a new phase of growth and expansion. V. Keshavdev’s lead story unravels an unprecedented revenue growth in the ‘`1 lakh crore club’.A record nine companies (three PSUs and six private companies) entered the ‘`1 lakh crore club’, taking the total count to 30 — a 4x growth since 2010. The good news is that records are not just tumbling in topline, but bottomline as well. The `10.93 lakh crore net proἀt of Fortune 500 India companies is not just the highest ever, it has also grown 3x since 2010. All this bodes well for the future of corporate India as it gives companies the foundation to grow exponentially from here on.
In other stories in the issue read how the big are getting bigger as the largest companies unleash a wave of organic and inorganic growth; how ἀve new-age ἀrms have made a place for themselves in the league of India’s 500 largest companies; and who’s rocking in ESG & CSR mandates, who’s struggling. Happy reading!


The Special Issue this month is our annual feature on India’s Best B-schools. Built from scratch as a modern ranking, the Fortune
India Best B-schools methodology incorporates the most unique ‘Distance-To-Frontier’ benchmark which points to how far any school is from the leading business school. It also incorporates six key parameters — Admission Attractiveness, Age & Accreditation, Placement & ROI, Pedagogy & Infrastructure, Brand Appeal and Industry Connect — in identifying the best. Building this modern methodology involved expert consultations, incorporation of global perspective and elements of evaluation while academic leaders, directors and heads of renowned business schools and senior industry leaders were consulted to re-emphasise the evaluation criteria. Find the winners on page 92. The package starting on page 63 also features: The importance of ‘triple-crown’, the global accreditation that only 1% of B-schools have so far worldwide, while India has three of them; the charm of online MBA; the coming rush of foreign campuses and impact of the National Education Policy on management education. Hope you make the most of it.
Wish you all a Happy Deepawali!

Fortune India’s special package this issue is our annual offering — India’s Best CEOs. There are 24 of them in this edition. HUL’s Sanjiv Mehta’s focus on innovative and targeted products for the many Indias within India made him the Jury’s choice for ‘Best Of The Best’ CEO. At Larsen & Toubro,S.N. Subrahmanyan’s laser-sharp focus on growth, efficiency and digitisation makes him the Best CEO among super-large companies. Our special gratitude to the powerpacked jury that deliberated extensively for over two hours to select the top CEOs who made the greatest impact with their actions on their companies and industries in FY23.

The special package this issue is the 2023 edition of Fortune India’s much awaited annual offering — India’s Richest. The most definitive listing of India’s growing breed of dollar billionaires (with wealth of `8,217crore).

The special package this issue is Fortune India’s iconic ‘Most Powerful Women, 2023’. The project initiated by Fortune Inc. in the U.S. in 1998 has had a historic run for a quarter of a century now. The Fortune MPW remains the most authentic ‘ranking’ of the women who made their mark in business and economy.

The Special Issue this month is Fortune India’s annual package on India’s Best Financiers — a deep, detailed study of the banking sector with our partners Grant Thornton Bharat. It captures a period of cracking growth in the midst of gloom in global banking; the welcome fall in non-performing assets; the revival of growth among small finance banks; the winners across seven categories and, of course, the understated brilliance of Kotak Mahindra Bank founder and
MD & CEO Uday Kotak — the jury’s choice for Financier Of The Year.


Our Special Issue this month examines India’s flourishing luxury market through two lenses — the business of luxury and the experience of luxury. In the midst of global slowdown and looming recession, India remains a ray of hope for the world economy. This 2023 edition of Fortune India luxury special package includes one-on-ones with celebrated designers     Sabyasachi Mukherjee, Gaurav Gupta and Rahul Mishra; life and times of the royalty, including a coronation at one of the world’s oldest dynasties; the spring in the business of luxury hospitality; corporate India’s new moves in the luxury market; auto and realty launches and last but not the least— the Objects Of Desire, among others.

Other than luxury package there are other interesting reads too. This generation of humans has a great responsibility to save Earth for the future with a fuel that halts global warming by replacing carbon emitting coal and oil. The answer has been identified as ‘hydrogen’ that is available aplenty in the atmosphere. And unlike coal and oil that emit carbon dioxide. Our cover story this issue, ‘ MISSION GREEN HYDROGEN’, captures how large Indian private sector companies, public sector firms and next-generation companies are creating an ecosystem to produce green hydrogen within the country — economically.

Our special package this month is Fortune India’s iconic annual listing ‘40 under 40’—India Inc.’s young business leaders who made a mark on the economic landscape with their conviction to pursue their vision, fearless risk-taking capacity and the ability to make a difference in their industries.

The Special Issue this month is Fortune India’s unique and exclusive annual HR package on Employers Of The Future. Curated with our partners Work Universe, the package carefully crafts the cutting edge human resources practices at some of India’s most future-oriented organisations.

Our Special Package this issue is the ninth edition of The Next 500: India’s Largest Emerging Companies. These are companies smaller than those that figure in the Fortune 500 India list but are by no means short on grit, determination and ambition. Ever since the list began in 2015, a record 120 companies have scaled the `2,000 crore summit on total income. Of these, 31 have, for the first-time ever, surged past the `2,500 crore threshold. Read the Next 500 success stories in the package.

Budget Special:

Meanwhile in finance minister Nirmala Sitharaman’s fifth Budget, India’s vastly successful formula since the Covid-hit year 2020 to keep the nation’s economic engine firing through loads of capital expenditure on infrastructure remains at the heart of Union Budget 2023 as well. This time Centre’s capital expenditure sees an astounding 33% hike to `10 lakh crore This Budget will be remembered for its ‘Long Vision’, for the tenacity to resist the temptation to be populist in the last full Budget before General Elections in April next year. It will be remembered for responsible fiscal management and for sticking to what will work to India’s advantage in the long run rather than myopic, bank-busting moves that had become the norm for governments serving the last year of their term. Fortune India explain why the big moves in the Budget prove that long-term vision outwitted short-term populism to put India on a path of growth and prosperity in a sea of global economic slowdown.

            Other than Budget, there are other interesting reads too. One such is, the first inside account of the remarkable changes that are transforming the Tata Group to be future-ready. N. Chandrasekaran, chairman of group holding company Tata Sons, sat down with Fortune India at group headquarters Bombay House over cups of Starbucks coffee to explain how he is pivoting the 154 year old group. Such, that it will sport a renewed look a few years hence.

Cover package of this issue is on where to invest in the New Year. Investments that will deliver in 2023. Seen through the eyes of the Best Equity Fund Managers; Best Debt Fund Managers, Best Insurers and the Best NPS Funds. A special piece even brings you where leading fund managers invest their own money. Answers to the evergreen question: Should you invest in property in 2023? Are gold and crypto good investments? And when buying luxury, what may be the better investment avenues. Not to miss the power-packed Private Wealth Roundtable,
where the country’s top fund managers debate on managing wealth
Team Fortune India wishes you, dear readers, a Happy, Prosperous and Peaceful New Year with the promise that our insightful coverage of economy and business will continue unabated in 2023.

Fortune 500 India: The iconic Fortune 500 India listing of the country’s biggest companies — now in its 13th edition — is always a barometer of scale. Of size that never fails to amaze. The top 500 club in 2022 is now worth $1.57 trillion in annual revenue, almost as big as the economies of Canada, Mexico and Spain. 
Despite the Sensex rollercoaster in the fiscal, the combined market cap of 449 listed companies in 2022 stood at a record `239 lakh crore as of November 11. That’s a healthy valuation of 101% of India’s nominal GDP, indicating the stock market performance is not out of place despite a healthy run. Another milestone of scale is the number of billion dollar companies —233 this year comprising almost half of the cohort — at a time when rupee-dollar was nearly 76 in March. That’s a jump from a decade ago, despite gradual rupee depreciation.
The special Fortune 500 India package in the pages to follow also features standout performers of the fiscal: How constant evolution at Reliance Industries has kept it at the top of this year’s listing as well, despite all-round challenges; Adani Wilmar’s businesses of scale; LIC’s stunning debut at No.2; and among others, how the all-digital play at Info Edge paid off.

The Special Package this issue is Fortune India’s newest addition — ‘India’s Best B-Schools’ with the most modern survey of the country’s business schools and a unique methodology introducing the concept of ‘Distance To Frontier’ for the first time in the country. Among other stories in the package read:
How consultancy is emerging as a significant revenue stream for top B-Schools as both public and private sector as well as the government rely on their unique capability of ear-to-the-ground research; how prominent B-Schools are spreading their wings to cater to rising demand with new campuses and new courses; what does global accreditation mean for domestic schools; and why entrepreneurship has taken a backseat among B-School grads, at least in 2022.



India’s Best CEOs:
The Special Issue this month identifies India’s Best CEOs for 2022. When the going gets tough, it’s the tough that get going. The Fortune India-EY study of the best performers in India Inc. is a three-month long extensive exercise that pores over the financial performance data — revenue, profits, share price performance and return on capital employed — of their companies over a three-year period to identify the top three performers in four size categories, 12 sectors and among PSUs. The findings are then presented before an eminent jury that decided India’s Best CEOs for 2022.

India’s Richest- Maiden Rich List by Fortune India-Water field Advisors
Who are the richest in India and what are they valued at? Fortune India and Waterfield Advisors come together to bring out the list of India’s richest. A look at India’s growing wealth factory; dollar billionaires, rich professionals; rise of small town billionaires; and emergence of new asset classes.
The coveted club of dollar billionaires based in India is collectively worth $832 billion (`66.36 lakh crore), Fortune India-Waterfield Advisors’ first ranking of India’s billionaires brings you the most definitive list of the country’s wealthiest billionaires.


Our special package this issue is Fortune India’s iconic ‘Most Powerful Women in Business 2022’. Gender parity in workforce has been a stated goal for India Inc. Yet, the reality is that women’s participation in Indian workforce dipped over 30% in 2021. In the lead story, Ajita Shashidhar writes on corporate India’s serious push to take the diversity agenda beyond their own workplace into the larger ecosystem of vendors, suppliers and distributors.

Our Special Package this issue is on India’s $7 billion Luxury Industry where sustainable luxury gets a whole new meaning. Luxury buyers contribute to sustainability by preventing greater use of materials with pre-owned luxury or ‘pre-loved’ products.
Cover story of this issue captures this vast complexity of India’s fast-track chemical industry that has come into its own with some bold calls and remark-able innovations.


Our special issue this month is ‘Employers Of The Future’ — a unique study conducted with our partners Work Universe to identify some of the best practices among organisations who are on a mission to ready themselves for the future needs of their employees.
Our cover story this issue is a peek into the mind of the one man whose ambition keeps growing bigger with each new milestone. Whom the whole corporate world is trying to decipher. Importantly, the big challenges before the first-generation group, including the ballooning debt, assimilation of massive acquisitions, entry into new businesses and transitioning of old businesses — all happening at the same time. Gautam Adani patiently explains the group’s rapidfire entry into the nearly two dozen businesses that appear totally unrelated to the outside world. From ports to air-ports; thermal, solar and wind power to cement; and edible oils and FMCG to city gas distribution.  


The Special Issue this month is our brand new introduction: India’s Best Financiers —a Fortune India-Grant Thornton Bharat study of India’s best banks. A unique study that stands out for not just capturing the past fiscal performance of banks but also the first nine months of the most recent fiscal.                       V. Keshavdev examines how the most successful of India’s best banks steered through the past two years with foresight and patience. The Special package is also studded with stories that bring alive what’s going on in India’s banking sector. In ‘Learning to live with fintech’, the early animosity between incumbent banks and newbies fintechs seems to be a thing of the past. The two are now collaborating to help the former slash operational costs. 
Another feature to watch out for this month is Ajita Shashidhar and Asmita Dey-authored cover story on how India’s Metaverse Economy is being created, byte by byte. And the enormous challenges along the way. 


Fortune India’s 40 Under 40 issue is an annual feature where we identify 40 most promising young Entrepreneurs & Corporate honchos under the age of 40, in India across all disciplines.  This edition of the annual study packs in young achievers from industries as diverse as satellite manufacturing to sustainable hospi-tality; smart tech healthcare to data science and edtech to swappable batteries. Savour the dive into the minds of 40 of India’s best and brightest.

FORTUNE INDIA- THE NEXT 500 
At the core of a nation’s economic strength are its small and emerging companies. For de-cades, Europe’s strongest economy Germany has shown to the world how healthy small and medium enterprises can be powerhouses of economic well-being. It’s been idolised not just in Europe, but also in India and across the globe. 
Over years, India’s own emerging companies landscape has gained from strength to strength. Now, lower corporate tax rate and the performance linked incentive schemes have brought a whole new vibrancy into this eco-system.  In this Special Issue, Fortune India’s Next 500 companies have got back into the black after struggling with profitability for three successive years.
Our cover story this issue though is on global PE giant Blackstone’s adventures in India’s real estate and PE markets.

Decoding Budget Fineprint:
Fortune India speaks to some of India’s top economists, industrialists, bankers and CEOs to decipher Budget 2022. Economists now reluctantly acknowledge the sanity India’s supply-side stimulus brings to the government’s finances via controlled deficit. Especially, vis-a-vis the balance sheet busting sops in the West. Read our Budget Special package on page 54.

India’s SuperApp Gold Rush:
The cover story this issue, though, is the quest to win the next frontier in India’s booming digital economy — the SuperApp. Clouded in secrecy, some of India’s biggest conglomerates, e-tailers, banks and aggregators are vying for a projected $800 billion market over the next 7-8 years. Reliance Industries, Tata group, Adani, SBI, Paytm, ITC, Amazon, Flipkart, Kotak Bank are all in the race to create that all-inclusive consumer experience in a single App. Read Team Fortune India’s account of the Super-App gold rush on page 20.

Best Investments 2022:
This issue of Fortune India is designed to help you with any or all of your decisions— how to invest, where to invest and when to invest. Conceptualised at that classic intersection of economy and markets, it will help you navigate through the macro-economic environment in 2022, setting the tone for vital investment decisions on the personal front. 
Happy investing in 2022!


There’s change in the weather, and there’s change in the air! The panic of 2020 has given way to quiet confidence that businesses can be man-aged — despite Covid. Fear is receding, making way for exuberance. And India Inc. is perceptibly more assured in its outlook towards growth, expansion, hiring and capex. All of that reflects in corporate balance sheets captured so dramatically by Fortune India 500- Fortune India's marquee annual listing of 500 largest firms in the country.

INDIA’S MOST POWERFUL WOMEN IN BUSINESS 2021:
When life gifts you roses, the world judges you by how you bear with thorns. Having gone through her own trials by fire, each one of India’s most illustrious women leaders from the world of business and economy makes the cut for Fortune India’s 50 Most Powerful Women in Business. How power is deployed acquired a whole new dimension in 2020-21 — a year like no other.
In the following pages read the fascinating exploits of India’s Top 50 superwomen.

April 2024

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January 2024

December 2023

November 2023

October 2023

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

n. We will also use usage information in order to ensure users adhere to our Terms of Use. For example, a user’s usage information will help us confirm that a user only downloads a magazine or other content a permitted number of times or to a permitted number of devices.

which gives digital readers unlimited access to 8,500+ magazines and newspapers for a monthly subscription price. Magzter also has the largest number of stories in the world with its game-changing ezRead 2.0 feature for its apps, which enables smartphone and small-screen mobile users to enjoy magazine content the way it was meant to be enjoyed, with article text that is easy to read and is accompanied by stunning videos and high resolution photography.

{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

Fortune India Magazine - March 2015

Fortune India Magazine - March 2015

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