Over time, attitudes towards women’s employment in India have changed. Nowadays, many young adults strongly believe that women should continue to work after marriage. In 2017, it was found that the employment rate of women in the retail sector was the highest. However, when it comes to salaries, there are differences between urban and rural women employees. While the Andaman and Nicobar Islands are known to pay the highest average daily wage to urban workers, the state of Madhya Pradesh pays its rural workers the lowest average daily wage.
While Nair is India’s richest self-made female billionaire, Savitri Jindal, who controls the OP Jindal group founded by her late husband, is the richest woman in the country. Her fortune is estimated at $ 12.9 billion, according to the Bloomberg Billionaires Index, a ranking of the 500 richest people in the world.
In India, women billionaires were mostly from the pharmaceutical sector, among others. Leading faces including Leena Tiwari, Kiran Mazumdar Shaw, and Smita Krishna-Godrej are included in the list. But in recent times, women from the various sector are emerging and finding their place among the richest in the country:
Top 5 Richest Business Women In India:
- Falguni Nair:
The founder of Nykaa has become India’s richest self-made female billionaire with a net worth of 6. 6.5 billion, according to the Bloomberg Billionaires Index. Nair, a former investment banker, became an entrepreneur just a few months before he turned 50. She launched the e-commerce platform in 2012, selling beauty and personal care products through her mobile app and website. Nair has surpassed Biocon founder Kiran Mazumdar-Shaw to become India’s second richest woman in terms of wealth. Let’s look at India’s top five billionaire women and their total wealth on November 11 by Forbes.
- Kiran Mazumdar:
Biocon, Net Worth: Rs. 22,700 crores. Kiran Mazumdar-Shaw founded the biopharma firm Biocon in 1978, which manufactures many common drugs for the treatment of autoimmune diseases, diabetes, and cancer. With a factory in the Johor region of Malaysia, the company is the largest insulin manufacturer in Asia. The biosimilar version of Rose’s breast cancer drug, Herceptin’s Biocon, was approved by the US Food and Drug Administration in December.
- Vandana Luthra:
Net worth: Rs. 1,300 crores. Luthra pioneered the idea of a chain of beauty and well-being in India. She opened her center in New Delhi in 1989, which provided weight management as well as hair and skin treatments, and now has 313 centers in 11 countries in Asia, the Middle East, and East Africa. Her VLCC personal care business sells skincare and hair care products through 72,000 outlets across India.
- Indra Nooyi:
Former PepsiCo CEO Indra Nooyi also paid Rs. It tops the list with a net worth of Rs 2,600 crore. In Nooyi’s 12-year tenure as CEO, she has increased sales of Mountain Dew and Gatorade Producer to $ 63.5 billion, up 80 percent from when she started. She is also credited with reshaping Pepsi with a strategic merger and shifting to a healthier drink of sugary soda – moving on to juice and tea.
- Jayshree Ullal:
Arista Network, Net Worth: Rs. 9,500 crores. Jayashree Ullal has been the President and CEO of the computer networking firm, Arista Networks since 2008. The publicly-traded company reported revenue of $ 1.6 billion in 2017. Ullal owns about five percent of Arista’s stock, some of which is earmarked for his two. Children, nieces, and nephews. Arista and Cisco, Ulla’s former employers, are embroiled in a multi-year legal battle over alleged patent infringement, which Arista denies. Born in London and raised in India, she is now one of the richest female executives in the United States.
There are many structural barriers for women entrepreneurs in India. Very few girls in India are encouraged to pursue STEM subjects, and the gender ratio in India’s select engineering colleges – which forms the basis of most technological entrepreneurship in India – is heavily leaning toward men, with less than 10% of students in Indian institutions of technology (IITs) Is female.
Women who manage to overcome these barriers also struggle to sustain and grow their ventures. Gender bias, taboos, cultural practices, and family expectations mean that female entrepreneurs are often unable to obtain financing to support their businesses. In 2020, Mint reported that only three of India’s top 20 venture capital companies – India Quotient, Lightspeed India, and Kalaari Capital have a female partner. But now things are changing for women, now they can grow and achieve what they really desire.
– Amrin Ahmed