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Fortune India Magazine - October 2025

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In this issue

THE LUXURY ISSUE: In our Luxury Issue, we take a look at several aspects of the Indian luxe landscape—from the products and experiences on offer to the emerging trends in the market for luxury goods. As global luxury giants ramp up their India strategy, they are also increasingly opting for Indian faces as brand ambassadors. As Vinod Nair writes in the cover story, several Indian superstars and sporting icons are now faces of many of these global brands—from our cover person Alia Bhatt to megastars like Deepika Padukone (Cartier), Ranveer Singh , Priyanka Chopra and sporting icon Neeraj Chopra , among others. “The fact that luxury brands are… bringing in Indian talent shows how much India’s influence is growing, not just in terms of market demand, but in shaping global culture.” For shoppers, massive luxury retail spaces are coming up across India—the sprawling Jio World Plaza from Reliance in Mumbai will soon be joined by Galeries Lafayette, which opens in the city in October and is brought to India by the Aditya Birla Group. In other cities too, luxury malls are expanding and new ones are coming up to ensure the big brands making a beeline for India have enough space to show-case their products. As Armando Branchini of Italian luxury brands collective Fondazione Altagamma says in our opening essay, a striking feature of the Indian luxury market is its youthful consumer base, which is digitally native, brand conscious, and motivated by experiences.

THE URGE TO SPLURGE

AS INDIA'S growth story gains momentum and the number of billionaires and ultrahigh-net-worth individuals rises, the country's luxury market seems to be on steroids. Whether it is high-end watches, luxury cars, lavish residences, luxurious holidays, expensive perfumes, jewellery, or gadgets, Indians are on a buying spree like never before.

2 mins

PUNEET CHHATWAL'S SPRAWLING OFFICE IN MUMBAI'S NARIMAN POINT OVERLOOKS THE TRIDENT HOTEL, WITH ITS LUXURY STORES, RUN BY RIVAL OBEROI GROUP. BUT THE IHCL MD & CEO'S JOURNEY OF REINVENTING LUXURY WITH TAJ HOTELS IS NO LESS REMARKABLE.

Luxury is in its infancy in India, but it is growing.

6 mins

VOLATILE TRUMP MEETS STOIC INDIA

AS THE U.S. PRESIDENT'S MELTDOWNS CONTINUE, INDIA'S DECISION TO PUT NATIONAL INTEREST ABOVE ITS LARGEST TRADE PARTNER HAS COME AT A COST. BUT NEW DELHI PLANS TO FUTURE-PROOF TRADE BY DIVERSIFYING ITS EXPORT BASE.

3 mins

CAN INDIA'S IT SECTOR WEATHER TRUMP'S VISA STORM? THE LATEST H-1B SALVO TARGETING INDIAN IT SERVICES COULD COMPEL FIRMS TO RETHINK TALENT AND DELIVERY STRATEGIES.

ON SEPTEMBER 19, U.S. President Donald Trump signed a proclamation mandating tech firms to pay $100,000 per H-1B visa from next year. The reason? IT outsourcing companies are harming American tech talent by manipulating the non-immigrant visa to import workers with lower wages, according to the White House.

3 mins

WHY GST 2.0 HASN'T LIT UP D-STREET: THE U.S. PRESIDENT'S TARIFF SALVO AND RECORD FPI OUTFLOWS MAY HAVE WEIGHED DOWN THE IMPACT OF THE CENTRE'S 'PRE-DIWALI' GIFT ON THE MARKETS.

IN HIS INDEPENDENCE DAY address from the ramparts of the Red Fort on August 15, Prime Minister Narendra Modi announced what he called a “pre-Diwali” gift: next-gen GST reforms for simplifying the indirect tax structure to boost consumption and ease compliance.

3 mins

HARBOURING A NEW MARITIME ERA: WITH A ₹1.45-LAKH CRORE PACKAGE FOR THE PORTS AND SHIPPING SECTOR, MODI 3.0 HAS SET THE STAGE FOR A ROBUST MARITIME FUTURE.

PORTS AND SHIPPING, largely overlooked in NDA-I and NDA-II since 2014, have emerged as a key focus in Modi 3.0.

2 mins

SHIFT IN CUSTOMER DYNAMICS FUELING FUTURE-FORWARD BUSINESS GROWTH

Considering India’s ‘Pharmacy of the World’ stature, what are the primary drivers propelling its pharmaceutical industry, and how has Lupin specifically contributed to this global prominence?

5 mins

INDIAN PERFUMES LEAD THE LUXURY OF SUSTAINABLE LIFESTYLE CHOICES

An exotic fusion of exclusivity, artisanal expertise, and sensory allure

1 mins

Fraganta Perfumes By Leena Jain Redefines Indian Luxury with Paired Fragrances: 66 "Ganga Jogi" & "Heer Ranjha"

Fraganta Perfumes By Leena Jain Redefines Indian Luxury with Paired Fragrances:

2 mins

WHEN PREMIUM AND LUXURY HOUSING MARKETS LEAD THE GAME

Reduced lower interest rates and positive policies drive capital in the direction of premium properties

2 mins

PIONEERING THE NEXT ERA OF REAL ESTATE EXCELLENCE WITH ACE

Redefining urban living through signature projects of design, quality, and timeless vision in Delhi-NCR

2 mins

A BLOOMING COURTSHIP: INDIA AND APPLE HAVE GROWN TO SHARE A SPECIAL BOND. A LOOK AT WHY AND WHAT'S NEXT.

FOR APPLE FANS in India, September 9 every year means a late-night ritual of seeing Tim Cook say his signature “good morning” from Apple Park in Cupertino, California, as he unveils the latest iPhones.

4 mins

INDIA'S NEW POWERHOUSES: NEARLY A THIRD OF FORTUNE 500 GIANTS HAVE TAKEN THE GCC ROUTE TO SET UP SHOP IN INDIA. AT THE FORTUNE INDIA BOARDROOM, LEADERS DECODE WHAT MAKES INDIA THE GO-TO HUB.

IN THE RACE for a competitive edge, talent outruns capital or infrastructure as the defining factor for success in any services-based industry.

2 mins

"Technology in agriculture is not an option anymore - it's the key to resilience, productivity, & prosperity."

CNH aims to redefine farming with automation, precision tools, and rural skill-building.

2 mins

India's Soft Power in Tough Times

India is home to countless social enterprises that are blending profit with purpose. The challenge is to ensure that these value systems are not sidelined in the race for growth.

3 mins

Will NBFCs Drive the Consumption Credit Landscape?

If NBFCs succeed in striking a balance between growth impulse and diligence, they could well become the force to reckon with in financing India's consumption story.

3 mins

A Wake-up Call to Recalibrate India's Trade Geography

By fast-tracking reforms, reimagining trade partnerships, and reinforcing self-reliance, India can turn the tariff blow into an inflection point that propels it towards double-digit growth.

3 mins

Succession Planning, the Board's Blind Spot

Boards that do succession planning well take charge of shaping the future. And in doing so, they elevate governance from oversight to stewardship.

3 mins

GOOD AND SIMPLE TAX

GST 2.0 AIMS TO STREAMLINE COMPLIANCE, BOOST REVENUE, AND SIMPLIFY INDIA’S INDIRECT TAX SYSTEM. WHAT WILL BE THE ROAD AHEAD?

6 mins

THE TRANSFORMERS

FOUR ENGINEERING STUDENTS STARTED WITH A MILITARY BOT, AND ARE NOW MAKING SCAVENGERS, STROKE AIDS, AND AUTONOMOUS ROBOT SOLDIERS.

5 mins

A Life Less Ordinary

WITH INCREASING PURCHASING POWER AND AWARENESS, MORE AND MORE INDIANS ARE LIVING THE HIGH LIFE, AND GLOBAL LUXURY BRANDS ARE RUSHING IN TO FULFIL THIS DEMAND.

7 mins

Global Luxe, Indian Stars

With India emerging as a luxury hotspot, global brands are roping in Indian celebrities for a slice of the pie.

9 mins

WHY INDIA MATTERS FOR THE GLOBAL LUXURYSCAPE

BRANDS ARE OPTIMISTIC DUE TO RAPID URBANISATION, A YOUNG AFFLUENT POPULATION, AND SHIFTING FOCUS FROM CHINA TO INDIA.

2 mins

GOYARD'S ELUSIVE CREATIVE SOUL

FOR ERIC BLANCHI, THE INDIAN-ORIGIN CREATIVE DIRECTOR OF LUXURY HOUSE GOYARD, EACH DAY AT WORK IS LESS OF A JOB AND MORE OF A BRUSHSTROKE ON AN EVER-EVOLVING CANVAS. HIS STORY IS ONE BORN OF AMBITION, HERITAGE, AND A LIFELONG ROMANCE WITH ART AND DESIGN.

7 mins

RETREAT RECHARGE REEWIND

Longevity tourism is the new frontier for luxury travel, luring the ultra-rich with the promise of a longer life.

4 mins

BRINGING MALDIVES’ HOSPITALITY EXCELLENCE TO INDIA – THE NEXT CHAPTER OF ATMOSPHERE CORE

From the islands of the Maldives to India’s culturally rich landscapes, Salil Panigrahi, Co-Founder and Managing Director of Atmosphere Core, is bringing his design-led, purpose-driven hospitality to the subcontinent. Known for creating resorts that combine emotional design, cultural authenticity, and sustainable practices, Salil discusses the brand's India expansion, emerging trends, and what guests can expect in this next chapter.

2 mins

INTIMATE AND REJUVENA BY DESIGN

FROM UBER-SECLUDED VILLAS AND REMOTE ISLANDS IN THE ATLANTIC AND THE INDIAN OCEAN, TO A SOON-TO-OPEN RENOVATED BUILDING USING ANCIENT JAPANESE LAVA STONE AND CRAFTS IN THE HEART OF KYOTO, FROM HEALING IN A FOREST SURROUNDED BY TIGERS, TO A QUIET RETREAT IN THE AUSTRIAN ALPS, TRAVEL IS ABOUT AN AUTHENTIC, LIVED EXPERIENCE, WITH PRIVACY AT THE HELM.

6 mins

RISING DEMAND AND THE PREMIUMIZATION OF HOUSING IN INDIA

Few companies in India offer as diverse a real estate portfolio as Brigade, spanning Residential, Office, SEZ, Retail, Hospitality, Townships, Clubs, Convention Centres, Senior Living, Schools, and even a real estate technology accelerator program. The Group has built a reputation for delivering Grade A properties, forging strong partnerships with global investors such as GIC (Government of Singapore Investment Corporation), and earning industry recognition through certifications and awards.

2 mins

The Billion-dollar 'Baraat'

AS INDIAN DESTINATION WEDDINGS GROW MORE EXTRAVAGANT, LUXURY HOTELS AND TOURISM BOARDS FROM THE U.A.E. TO THE FRENCH RIVIERA ARE ROLLING OUT THE RED CARPET TO CAPTURE HIGH-VALUE CLIENTELE.

5 mins

CANVAS TO CURRENCY

WITH RECORD-BREAKING AUCTIONS, SWELLING GLOBAL INTEREST, AND RISING DOMESTIC COLLECTORS, INDIAN ART IS EMERGING AS A POWERFUL NEW ASSET CLASS.

6 mins

TIMELESS ASSETS

A LOOK AT SOME OF THE GRANDEST WATCHES LAUNCHED THIS YEAR.

1 mins

A WALK THROUGH SAVILE ROW LONDON

WHEN CENTURIES-OLD CRAFTSMANSHIP MEETS QUIET EVOLUTION IN THE HEART OF LONDON.

3 mins

PORTRAIT OF A YOUNG PRINCE

MANAVENDRA PRATAP SINGH OF ALWAR IS WORKING TO RESTORE HIS FAMILY'S MAJESTIC FORT IN BUNDI AND ITS ART, LAUNCHING BOUTIQUE HOTELS, WITH A PASSION FOR SHOOTING, ANGLING, SWORDS AND MOTORCYCLES.

5 mins

FOR THE LOVE OF ALL THINGS VEGETARIAN

VEGETARIAN MENUS ARE BEING SPECIALLY CREATED IN CUISINES ACROSS THE WORLD.

7 mins

"India taught me that exuberance can be refined"

DRAWING INSPIRATION FROM THE NINE HUES OF THE NAVRATNA (NINE) GEMS, ICONIC DESIGNER CHRISTIAN LOUBOUTIN TALKS TO FORTUNE INDIA ABOUT HIS INDIA-INSPIRED COLLECTION LA VIE EN INDE, HIS INFATUATION WITH AN EXUBERANT INDIA, AND HOW BEAUTY CAN BE FOUND IN THE MOST ORDINARY OF THINGS.

3 mins

REINVENTING THE BANARASI

GEN-NEXT IS REINVENTING THE ICONIC WEAVE, WHICH, FOR LONG, HAS BEEN AN INTEGRAL PART OF THE TROUSSEAU OF INDIAN BRIDES. FROM CHIC WESTERN OUTFITS, JACKETS TO POCKET SQUARES AND SILK WOOL SHAWLS, BANARASI IS TURNING OUT TO BE A GLOBAL FASHION STATEMENT.

7 mins

Aural Ecstasy

GRAB THESE IF YOU WANT AN ETHEREAL AUDIO EXPERIENCE.

2 mins

NEW ERA OF RECKONING & REINVENTION

BRANDS WILL NEED TO LOCALISE THEIR OFFERINGS AND EXPAND RETAIL PRESENCE THOUGHTFULLY; CREATIVITY AND INNOVATION MUST REMAIN CENTRAL TO BRAND STRATEGIES.

2 mins

A CUT ABOVE THE REST

THE $459 BILLION (€425 billion) global luxury goods market has grown faster than the overall economy, expanding at about 4% annually, and is projected to exceed $568 billion (€526 billion) by 2029, according to Houlihan Lokey, a leading global investment bank and valuation advisory firm.

1 mins

LEADERS: SHAPING THE INDIA OF TOMORROW

India is at a turning point in its history. The country is on the verge of change due to its youthful population, expanding economy, and increasingly interconnected global community.

1 mins

BUILDING TOMORROW: CREATING SYSTEMS THAT SERVE SOCIETY

For Vinayak Pai, Managing Director & CEO of Tata Projects, leadership isn't just about foresight— it's about shaping a future built on enduring values and scalable systems.

2 mins

FROM MADE IN INDIA TO REIMAGINED IN INDIA: ACCELERATING INDUSTRIAL TRANSFORMATION THROUGH STARTUP COLLABORATION

India's innovation landscape is blossoming as the country steadily transitions from a services-focused digital economy to one driven by knowledge, product development, and intellectual property. This transformation is underpinned by a robust startup ecosystem which, in 2024 alone, attracted $7.4 billion in tech funding. Notably, deep-tech startups—spanning AI/ML, IoT, robotics, and clean technologies—secured a 78% year-on-year funding increase, reaching about $1.6 billion. This surge reflects India's growing emphasis on creating indigenous technologies and homegrown intellectual property, vital for its long-term competitiveness.

2 mins

A DEEP COMMITMENT TO CREATING A BETTER, MORE INCLUSIVE, WORLD

In today's uncertain business landscape, growth markets stand as beacons of opportunity.

2 mins

PROPELLING AN INCLUSIVE HEALTHCARE LANDSCAPE WITH VISIONARY ZEAL

A corporate honcho with over two decades of experience across industry sectors, Dr Sujit Paul, Group CEO, Zota Health Care (Davaindia Generic Pharmacy) is leading with a visionary zeal. Under his leadership, Davaindia's reach has grown to over 2000+ stores nationwide making quality and affordable generic medicines accessible to millions of patients. His pioneering drive is impacting and transforming healthcare into an inclusive industry.

2 mins

CHARTING THE FUTURE INNOVATION, LEADERSHIP AND GROWTH

In an era where India's housing and interiors sector is rapidly evolving, few leaders combine vision with execution as seamlessly as Mr. Manoj Tulsian, CEO & JMD of Greenply Industries Ltd. Recognised for his strategic foresight, unwavering integrity, and inclusive leadership, Tulsian is shaping a future where business growth goes hand in hand with innovation, market leadership, and stakeholder impact. Under his stewardship, Greenply has emerged as a benchmark for quality, trust, and purposeful innovation in the industry.

2 mins

THE CHALLENGE TO BUILD RESILIENCE FUELLED BY A WORLD THAT DEMANDS IT

She's young, she's pretty and she's full of vim and vigour. American-Indian economist Gita Gopinath has had her fair share of challenges and learnings as the first Deputy Managing Director of the International Monetary Fund (IMF), since 21 January 2022. Stepping away from these duties in August 2025 she returns to Harvard as professor to joust with her students through debates and exchange ideas on campus. She looks forward to pushing the research frontier in international finance and macroeconomics to address global challenges, and to training the next generation of economists, she said in a statement.

2 mins

A VISIONARY ENTREPRENEUR, WITH AN EDUCATOR'S HEART

In the vibrant city of Chennai, where tradition and modernity meet, a young boy grew up with the conviction that knowledge is power, values build human character, and purpose gives life direction.

5 mins

THE MAN BEHIND MANTRA

How an Indian Surgeon - Entrepreneur Is Rewriting the Map of Advanced Healthcare

4 mins

HEXA CLIMATE'S BLUEPRINT FOR A SUSTAINABLE INDIA

Tracking intermittency, innovation, and the policy paradox

2 mins

CRAFTING A TRAJECTORY MARKED BY A FINE BALANCE OF RISK TAKING AND CAUTIONARY MOVES

Though Uday Kotak stepped down as CEO of Kotak Mahindra Bank in 2023, he is still respected as a Colossus who straddled the coming of age of India's private banking sector and financial landscape.

2 mins

REDEFINING INDIAN REAL ESTATE THROUGH GLOBAL VISION AND DESIGN

As founder and managing director of Tribeca Developers, Mehta has built his reputation on introducing branded residences to India at scale and on crafting what he calls “trophy properties” — landmark developments that define their cities through architecture, quality, and identity.

5 mins

BUILT ON TRUST, DRIVEN BY INNOVATION: ZEBRONICS ISN'T CHASING TRENDS BUT CREATING THEM

From a single office in Chennai, Zebronics has scaled to a nationwide footprint with 25+ offices, 145+ service centres and employing over 2000 Zebees, reaching millions of consumers across metros and small towns alike.

4 mins

CHAMPIONING ACCESSIBLE AND GLOBAL CANCER CARE

Dr. Bhawna Sirohi is at the forefront of transforming India's cancer care, blending global expertise with a relentless drive to build systems that put patients first.

2 mins

WHEN RESILIENCE, HUMILITY AND THE HUMANE SPIRIT PROPEL THE HARD DRIVE OF AN INDIAN MAJOR IN THE ENGINEERING BUSINESS

For years Ms Anu Aga has been the face of the major developments in India's energy and environment engineering segment. The valuable contributions she has brought to the sector with her helming of Thermax Ltd., the Rs. 32.46 billion energy and environment engineering business, as its chairperson for eight years, continues to resonate to this day.

2 mins

WATT DRIVES BHARAT'S FUTURE: INSIDE NAVITAS SOLAR'S VISION

From utility-scale projects to rooftop solutions, Navitas Solar is lighting up a wide spectrum of India's energy needs, efficiently, responsibly, and affordably.

3 mins

THE OTTplay-er

\"HIS LEADERSHIP PHILOSOPHY HAS EMPOWERED HIS TEAMS TO THINK BOLDLY, CHALLENGE CONVENTIONS, AND TRANSFORM AUDACIOUS IDEAS INTO MARKETLEADING PLATFORMS.

2 mins

GLOBAL LESSONS, INDIAN HEART

How Anisha Chandy Eckardt is Building India's Next Healthcare Model Focused on Multispecialty & Home Care

2 mins

THE CARDIAC SURGEON WHO'S REWRITING INDIA'S HEALTHCARE BLUEPRINT

Andal, a small town in West Bengal, might not ring a bell now—but soon, it will. That's because it's set to house one of India's most cutting-edge cancer and Allied Super specialty centers, designed to rival the best in the world.

2 mins

LEADING WITH VISION, COMPASSION, AND EXCELLENCE

Leadership in healthcare is about more than just managing hospitals-it is about transforming lives, inspiring teams, and creating lasting impact.

2 mins

LEADING NUTANIX'S CHARGE IN INDIA'S ENTERPRISE CLOUD REVOLUTION

Over the last decade, few leaders have shaped India's enterprise technology landscape as profoundly as Faiz Shakir, the driving force behind Nutanix’s rise in one of its fastest-growing markets.

2 mins

NOT FAIRNESS BUT GEOPOLITICS INDIA SHOULD TREAD CAUTIOUSLY WHILE NAVIGATING NEGOTIATIONS WITH WASHINGTON

A globally renowned Indian economist, Dr. Raghuram Govind Rajan is presently the Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth.

2 mins

REDEFINING EDUCATION: SAI INTERNATIONAL'S JOURNEY OF HAPPINESS, EXCELLENCE & GLOBAL IMPACT

At the heart of Odisha's educational renaissance stands SAI International Education Group, an ecosystem of innovative schools bound by the belief that learning must spark happiness and purpose, while awakening curiosity, nurturing character, and preparing every child to flourish in a rapidly changing, interconnected world.

3 mins

POWERING INDIA'S GREEN FUTURE WITH SCALABLE ENERGY SOLUTIONS

India today stands at a defining moment in its development journey. As one of the fastest-growing economies, our choices in energy and mobility will determine not just our pace of progress but also the sustainability of our growth.

2 mins

UNCOMPROMISING COMMITMENT TO PROGRESSIVE LEARNINGS

Millennials and Gen Z make his world go round. As the Co-Founder- CMO of boAt Lifestyle, Aman Gupta is unabashedly committed to the learning curve this end of the market continues to inspire his business.

2 mins

A PARATROOPER AND A TEACHER TOGETHER AIMING FOR VIKSIT BHARAT

The Mungalis from Pune are a formidable couple. Retired Colonel Girija Shanker Mungali and his wife, Devyani Mungali, have together set up one of the most renowned groups of schools in the country.

4 mins

EMPOWERING GLOBAL EDUCATIONAL SERVICES

Niche solutions for bridging gaps between educator and students

3 mins

SCALING IMPACT: COMMERCIALIZING INNOVATIONS THAT CHANGE LIVES

For Ravinder Grover, COO of HarvestPlus Solutions, leadership is defined by what he calls the “sixth sense”, the sense of urgency. He believes impact must move faster than the problems it seeks to solve. For him and his teams, the mission is clear: take socially relevant innovations out of labs and pilot projects and make them work at scale in the real world.

2 mins

A MISSION TO HELP CREATE JOBS TO ALLEVIATE POVERTY AND STIMULATE DEVELOPMENT AND GROWTH

His name is writ large in the annals of India's banking history. Never one shy to take on the challenges of the fast evolving global economic, financial and geopolitical scenario Ajaypal Singh Banga has proven the heft of his stature as the President of the World Bank Group since he took charge in 2023.

2 mins

CHANGEMAKER OF INTERIOR ARCHITECTURE DESIGN, CONSUMER CENTRICITY AND SUSTAINABILITY

In today's India, benchmarks of aspiration are shifting—where once high-end cars, designer watches, or luxury vacations defined achievement, there is now rapid momentum toward spaces that are not just opulent, but uniquely personalised. The demand from India's HNIs and upper-income circles is not for replication, but for differentiation: spaces that blend distinction, functionality, and sustainability, delivered through a lens of design innovation.

2 mins

PROPELLING THE FUTURE OF GREEN ENERGY IN INDIA

His 40 years in the field of Power Electronics has provided the heft to a journey marked by resilience, embracing both challenges and successes.

3 mins

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Fortune India Magazine Description:

Publisher: Business-Media-Pvt-Ltd

Category: Business

Language: English

Frequency: Monthly

Fortune India, is your ultimate guide to business, economy, and leadership. From corporate power moves to disruptive startups, Fortune India bring you deep insights, expert analysis, and inspiring success stories that shape India’s financial and entrepreneurial landscape.

1. Business & Economy – Exclusive reports on market trends, policy shifts, and economic developments. 

2. Leadership & Strategy – Meet the CEOs, founders, and visionaries redefining industries. 3. Wealth & Investment – Smart strategies for investors, market insights, and expert financial advice.

4.  Tech & Startups – The latest in AI, fintech, and innovations driving India’s growth story.

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