Mumbai: Business Today celebrated the 21st edition of the Most Powerful Women in Business list on November 8 in Mumbai. The event brought together visionary women leaders, entrepreneurs, and executives from diverse sectors to discuss key challenges and new opportunities for women in Indian business.

Union minister of commerce and industry, Piyush Goyal, was the chief guest at the event. He alongside India Today Group vice-chairperson and executive editor-in-chief Kalli Purie, unveiled the MPW Special Issue of the magazine, which featured the inspiring stories of the women leaders who made it to this year’s prestigious list.  

Addressing the stalwarts and guests, Goyal emphasised India’s enduring respect for female leadership and praised the National Democratic Alliance (NDA) government’s initiatives to empower women.

He also highlighted India’s resilience to potential tariff increases from the US after Donald Trump’s re-election, stating, “India is regarded as a trusted partner by the democratic world.” He also assured that India was willing to reduce tariffs on products where there is little competition, such as heavy motorcycles from Harley Davidson.

This year, Business Today recognised 60 women leaders across various industries, with 12 new faces added to the list, showcasing the increasing diversity and dynamism of female leadership in India. Alongside these new honourees, four returning achievers highlighted the consistent excellence and evolution in their fields. Two leaders were inducted into the Hall of Fame, having been a part of the list a record seven times, underscoring their profound and enduring impact on the business landscape.

This year’s event was centered around the theme “Balance. Work. Life. Safety” focused on the delicate balance women strive to maintain between their professional and personal lives. It also addressed the need for greater gender equity and inclusivity in business.

Distinguished honourees were Schauna Chauhan, CEO of Parle Agro; Ananya Birla, Founder & Chairperson of Svatantra Microfinance; Prabha Narasimhan, MD & CEO of Colgate-Palmolive (India); Prativa Mohapatra, VP & Managing Director of Adobe India; Ameera Shah, Executive Chairperson of Metropolis Healthcare; and Padmaja Ruparel, Co-founder of Indian Angel Network, among others. To know about the full list, log on to https://btmostpowerfulwomen.com/2024/

During a thought-provoking panel discussion, Prabha Narasimhan, MD & CEO of Colgate-Palmolive (India) highlighted the underappreciation of women’s contributions. “Grit, Gumption and Guts are common to men and women both. What makes it interesting for women as we tend to undersell ourselves a little bit,” she said.

Indian Angel Network co-founder Padmaja Ruparel emphasized the societal barriers women face and the importance of embracing risk. “Women always had a tough time. In most societies, not just India, people have preconceived notions about women. That's the first challenge. The second point is that the women are not grown or nurtured to take risks in their workplace,” said Padmaja.

Prativa Mohapatra, VP & Managing Director of Adobe India and Pavitra Shankar, MD of Brigade Group also shared their personal journeys of resilience and leadership.

In another insightful session, Edelweiss AMC MD & CEO Radhika Gupta, celebrated women’s innate multitasking abilities. “Women are natural multitaskers without any professional training and spreadsheets. Multitasking is a tremendous skill in leadership... So, what we traditionally refer to as feminine skill sets are those which are required in the workplace,” she said.

Shefali Goradia, Chairperson of Deloitte South Asia, and Amisha Vora, Chairperson & MD of Prabhudas Lilladher Group, discussed the importance of self-belief and the need to close the gender gap in corporate leadership. Shefali said that in India there is still a lack of equal seats for women at the high table despite awareness, while Gupta urged women to move from being cautious savers to confident investors, encouraging them to extend their financial stewardship beyond the household.

The theme of work-life balance was a key point of reflection throughout the day. Nirupa Shankar, Joint MD of Brigade Group, observed that the idea of “work-life balance” is evolving, with more emphasis now on work-life integration. Devita Saraf, Chairperson & CEO of Vu Group, echoed this thought and stressed the importance of setting clear boundaries to maintain focus and mental well-being.

Since its inception in 2003, Business Today’s Most Powerful Women in Business list has served as an important platform to recognize women who have made significant contributions to their industries. This year’s event not only celebrated the accomplishments of these remarkable leaders but also underscored the critical need to address gender disparities and create an environment where women can truly thrive.