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Fortune India Magazine - December 2025

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In this issue

The iconic Fortune 500 India listing of the country’s biggest companies — now in its 16th edition — is always a barometer of scale. This year’s Fortune 500 India list is special for one big reason. While every year since 2021 the 500 have been hitting new highs, this year, at a cumulative revenue figure of `172 lakh crore, the Fortune 500 India has broken into the $2-trillion league for the first time ever. This, even though the rupee has consistently lost ground to the dollar over the past 15 years.

THE $2-TRILLION CLUB

THE INDIAN corporate sector is in the midst of rapid transformation—a fact acknowledged not just in India but also increasingly across the world. Nowhere is this metamorphosis more evident than in the Fortune 500 India list, the definitive compendium of corporate performance. This year, the Fortune 500 India cohort has hit peak revenues and peak profits, a sign that this up-move could well be a constant.

2 mins

PIYUSH GOYAL, UNION MINISTER OF COMMERCE & INDUSTRY, SAYS A FOCUS ON INNOVATION, QUALITY, AND SUSTAINABILITY IS A SURE-SHOT COCKTAIL FOR SUCCESS.

IN AN EXCLUSIVE INTERACTION WITH FORTUNE INDIA, GOYAL HOLDS FORTH ON THE PATH TO VIKSIT BHARAT.

7 mins

Embracing dynamic leadership for an AI-first future

India’s C-suite stands at an inflection point.

2 mins

UNICORN IPOs REPORT CARD

AS INDIA'S INVESTORS EVOLVE, THE YEAR TURNED INTO A ROLLER COASTER FOR THE COUNTRY'S NEW-AGE GIANTS.

2 mins

SWEEPING OVERHAUL

THE NEW LABOUR CODES SEEK TO IMPROVE EMPLOYEE WELFARE AND CREATE A FUTURE-READY WORKFORCE.

2 mins

QUEST FOR THE BEST

TWO YEARS AFTER IT CARVED OUT A NEW IDENTITY, PEAK XV CHARTS THE WAY FORWARD AS IT AIMS TO BUILD GLOBAL CATEGORY LEADERS FROM THE INDIA-APAC REGION, SAYS MD SHAILENDRA SINGH.

3 mins

Can India Become a Global Leader Without a Healthy Population?

India's demographic dividend can become a liability if we do not safeguard the population's health.

3 mins

Preparing India's Universities for the AI Wave

The future belongs to institutions that understand the power of AI democratisation.

4 mins

When to Support. When to Challenge. The Board's Tightrope

With mutual trust, clear boundaries, and a shared commitment to long-term value creation, boards can be both a source of strength and a force for accountability.

3 mins

ZOHO'S AI GAMBIT

The company sharpens its AI game and scales global reach, aligning bold ambitions with accelerated growth.

9 mins

India's Free Trade Blueprint

The country has recently signed a few trade agreements and is vigorously pursuing pacts with the U.S. and the EU, among others. What will be their impact on the Indian economy and businesses?

6 mins

INDIA'S WEIGHT-LOSS BET

GLOBAL PHARMA MAJORS INVEST IN ANTI-OBESITY DRUGS AS DIABETES, WEIGHT MANAGEMENT TAKE CENTRE STAGE.

8 mins

INDIA'S HOSPITALITY BOOM: ATMOSPHERE CORE'S BLUEPRINT FOR TRANSFORMING THE MARKET

India is entering a defining moment in its hospitality evolution. As international arrivals rise, domestic travel surges, and travellers seek experiences anchored in meaning rather than material excess, the landscape is rapidly shifting. Amid this momentum, Atmosphere Core, known for elevating island luxury in the Maldives, is deepening its commitment to India with renewed strategic focus, talent investment and experience-led thinking.

2 mins

THE BUSINESS OF RITUALS

INDIA'S AGE-OLD RITUAL ECONOMY GETS A DIGITAL UPGRADE AS STARTUPS BLEND DEVOTION WITH TECHNOLOGY AND INNOVATION.

7 mins

GIVING AT SCALE

PHILANTHROPY IS NO LONGER ONLY ABOUT SUPPORTING A PARTICULAR CAUSE, BUT MAKING A LARGER SOCIETAL IMPACT BY INVESTING IN COLLABORATIVES, AND BUILDING NARRATIVES ON THE WAY.

9 mins

MCKINSEY ALUMS DOMINATE THE WORLD'S C-SUITES. WILL AI DRY UP THE FIRM'S CEO PIPELINE?

THE CONSULTING GIANT HAS PRODUCED MORE FORTUNE 500 CEOS THAN ANY OTHER INSTITUTION. NOW IT'S SPRINTING TO RETHINK HOW IT TRAINS LEADERS.

10+ mins

THE $2-TRILLION MILKY WAY

How India's corporate giants have hit peak revenues and peak profits, and why this could just be a constant for the Fortune 500 India.

7 mins

UNLOCK, SCALE, DOMINATE

GIGA-SCALE FACTORIES, AI-NATIVE PLATFORMS AND THE NEXT GENERATION'S LEADERSHIP MANTRA-INDIA'S LARGEST PRIVATE SECTOR COMPANY IS BUILDING ON ITS SCALE AND CAPITAL TO LEAPFROG INTO THE NEXT PHASE OF GROWTH.

5 mins

INSURING GROWTH

WITH AUM AT A RECORD ₹57.23 LAKH CRORE, LIC REINFORCES ITS POSITION AS INDIA'S MOST DOMINANT INSTITUTIONAL INVESTOR AND INSURANCE BEHEMOTH.

5 mins

THE FAST AND THE FURIOUS

SBI, THE COUNTRY'S LARGEST LENDER, AIMS TO EXPAND ITS ASSET SIZE FROM 20% OF INDIA'S GDP TO 25% IN THE COMING YEARS.

7 mins

ADDING TO THE CORE

L&T POWERS PROFIT GROWTH THROUGH SERVICES SHIFT WHILE STRENGTHENING ITS CORE INFRASTRUCTURE AND ENGINEERING BUSINESSES.

4 mins

TECH INFRA CHAMPION

INDIA'S LARGEST IT SERVICES FIRM IS LOOKING TO BUILD AI-READY DATA CENTRES AND A SOVEREIGN CLOUD INFRASTRUCTURE, WHICH IT BELIEVES WILL GIVE IT AN EDGE IN THE NEXT DECADE.

5 mins

THE SURGING STEEL TIGER

WITH MASSIVE CAPACITY BUILD-OUTS, GREEN ENERGY INTEGRATION AND ADVANCED PRODUCTS, JSW'S NEXT PHASE OF GROWTH IS ALREADY UNDERWAY.

5 mins

THE COMPACT ROAD RUNNER

WITH SHARPER PRICING AND A STRONGER EXPORT PUSH, RISING HELMET COUNTS OUTSIDE CAR SHOWROOMS ARE GIVING MARUTI FRESH OPTIMISM.

7 mins

NOTES

FORTUNE 500 INDIA is an annual ranking of listed and unlisted companies by total income (revenue) based on the full-year audited numbers of the latest financial year.

2 mins

DEFYING TABOOS

Neerja Birla's playbook has been to pick up causes which bear a societal stigma, normalise conversations around them, and then scale.

6 mins

Regal Retreats

Across India, royal families and private hoteliers are turning timeworn palaces into decadent boutique stays.

4 mins

Watch Art

Sometimes, timepieces transcend boundaries to become pieces of art or technological marvels. Presenting seven such wonders, most of which are limited editions.

3 mins

LEADERSHIP PLAYBOOK

India's top corporate and policy leaders converged at the India's Best CEOs 2025 awards.

2 mins

THE 'HEAVY METAL' WITH A MIDAS TOUCH

WHAT WAS TRADITIONALLY SEEN as a hedge against inflation is now a strategic forex reserve asset for central banks worldwide, including the U.S. Federal Reserve.

1 mins

REINVENTING B-SCHOOLS

THOSE ASPIRING to be in corporate corner rooms in the future are now faced with some critical questions. How do they prepare for a business environment that is unpredictable and volatile? As tomorrow's managers and business leaders, what are the key attributes they must have as rapid change engulfs the global economy? What are the lessons that they need to learn now, which will empower them to face tomorrow's business environment with confidence? In this VUCA environment, the B-schools these aspiring managers go to must then be equipped to prepare them well enough for success amid this uncertainty. That’s the key issue B-schools are grappling with as well. Are they in tune with the changing times where a mere MBA degree no longer guarantees success in the corridors of corporations? Do they know how to ensure their students are not just using AI prompts, but truly know how to harness artificial intelligence without killing curiosity?

2 mins

IDENTITY CRISIS

AS INDUSTRY TRANSFORMS AND NAVIGATES THE REALITIES OF CONTINUOUS DISRUPTIONS, BUSINESS SCHOOLS STRUGGLE TO STAY RELEVANT.

10+ mins

THE DISRUPTORS

NEW-AGE B-SCHOOLS ARE UPPING THE ANTE ON TRADITIONAL IIMs WITH THEIR PRACTICAL AND HANDS-ON APPROACH.

8 mins

GLOBAL SCHOOL, LOCAL CAMPUS

GEOPOLITICAL SHIFTS ARE LIKELY TO ACCELERATE HIGHER EDUCATION INVESTMENTS BY FOREIGN UNIVERSITIES IN THE INDIAN MARKET.

10+ mins

CUTTING THROUGH THE HYPE

AN ONLINE MBA PROGRAMME—EVEN FROM ONE OF THE IIMs—DOESN'T EXCITE RECRUITERS. WHAT LIES AHEAD FOR SUCH COURSES?

7 mins

TECHNO LEADERSHIP

COME 2026, IIMA'S FLAGSHIP TWO-YEAR PGP IN MANAGEMENT WILL COME IN A NEW AVATAR, WITH A BLEND OF AI.

3 mins

EVOLVING, WITH A PLAN

AS IIM CALCUTTA STEPS INTO ITS NEXT PHASE OF GLOBAL EXPANSION, ITS CORE ETHOS REMAINS FIRMLY INTACT.

2 mins

PLACEMENTS REIMAGINED

IIMK DITCHES TRADITIONAL PLACEMENT CELL, REDEFINES HOW TALENT MEETS INDUSTRY.

2 mins

STRIKING A BALANCE

SPJIMR IS FOCUSSED ON FINDING THE SWEET SPOT BETWEEN AI READINESS AND CRITICAL THINKING.

3 mins

IN A CLASS OF ITS OWN

A STRONG COMMITMENT TO EXCELLENCE AND INTEGRITY IS WOVEN INTO THE ETHOS OF XLRI.

2 mins

In a World Defined by Disruption, it is Imperative to Reimagine B-schools

The challenge lies in how swiftly institutions can redesign curricula to reflect the changing landscape.

3 mins

B-schools in the AI Era: Balancing Intelligence with Humanity

The real challenge for business schools today isn't adopting AI, it's protecting the human spirit of learning.

4 mins

HOW WE DID IT

FORTUNE INDIA'S 2025 ranking of Best B-schools in India is based on a unique research framework. Apart from considering the most relevant parameters that reflect the performances of the business schools in the country, the survey also throws light on how far other schools are from the leading business school using the concept of 'Distance to Frontier' as a benchmark.

2 mins

Read all Stories from Fortune India

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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