Chanda Kochhar India's most powerful businesswoman

ICICI Bank chief executive Chanda Kochhar has been named as the most powerful woman in Indian business while Sun TV Network's joint managing director Kavery Kalanithi draws the highest salary with an annual take home package of $13.09 million, according to Fortune magazine. However, Kochhar, who is also ICICI Bank's MD, does not figure among the 10 highest paid women executives in the country.

Axis Bank MD and chief executive officer (CEO) Shikha Sharma, a former ICICI Bank bigwig who quit in protest after Kochhar took over as CEO is ranked second in the Fortune list of 50 most powerful businesswomen.

TAFE chairperson Mallika Srinivasan is at the third spot, Capgemini India CEO Aruan Jayanthi (4), AZB Partners cofounder Zia Mody (5) and Britannia Industries managing director Vinita Bali (6) also figure at the top of the list , which will be published in the I magazine this week.

SPECIAL: Chanda Kochhar in Business Today's list of most powerful women

HT Media chairperson and editorial director Shobhana Bhartia is at the seventh spot, followed by National Stock Exchange (NSE) joint managing director Chitra Ramakrishna (8), Biocon CMD Kiran Mazumdar (9) and RIM India's former MD Frenny Bawa at the 10th slot. Two other former ICICI executives, JP Morgan India CEO Kalpana Morparia (16th rank) and Multiples Alternate Asset Management's founder and CEO Renuka Ramnath (20), also feature in the top echelons of power.

Two other former ICICI executives, JP Morgan India CEO Kalpana Morparia (16th rank) and Multiples Alternate Asset Management's founder and CEO Renuka Ramnath (20), also feature in the top echelons of power.

Other prominent names in the power list include HSBC India group general manager and country head Naina Lal Kidwai (12), Apollo Hospital Enterprises MD Preetha Reddy (13), Facebook India head Kirthiga Reddy (21), HDFC MD Renu Sud Karnad (35) and UBS CMD Manisha Girotra (48). From the entertainment space, there are at least two women - Balaji Telefilms joint MD Ekta Kapoor (31) and Three's Company co-founder Farah Khan (42).

Among the top 10 highest paid women executives, Peninsula Land chairperson Urvi A. Piramal is at the second place with $1.74 million pay, followed by Preetha Reddy ($1.11 million) and Vinita Bali ($1.03 million). With a yearly pay packet of $13.66 million, Jindal Steel chairman Naveen Jindal has been listed as the highest paid businessman, followed by Sun TV Network chairman and Kavery's husband Kalanithi Maran, who draws an annual package of $13.09 million.

Hero Motocorp MD and CEO Pawan Munjal is the third highest paid business man with an annual package of $6.28 million, followed by his father Hero Motocorp chairman Brijmohan Lall Munjal who earns a wee bit less at $6.23 million.

Reliance Industries chairman Mukesh Ambani, who was once the highest paid executive in India does not feature on the list, since he has fixed his pay at around Rs 15 crore for the past three years, starting from 2008.

In 2007-08, he had topped the highest paid executives league with a pay packet of Rs 44 crore. The magazine also highlights the fact that in comparison with their counterparts in the US Indian women executive are taking home much less. Kavery Kalanithi might be the most paid woman executive, but her package is just about one-third that of the highest paid US businesswoman - Oracle president and CFO Safra A. Catz.

According to Fortune, Catz's salary is $42.09 million. The US list of highest paid women executives also features Pepsico's India-origin chairman and CEO Indra Nooyi at ninth position.

Courtesy: Mail Today