Women in business have always made heads turn in society, admired for breaking the glass ceiling in a male-dominated sphere. The ascent of accomplished female entrepreneurs stands as an immensely inspiring narrative in a country like India where society views women’s primary responsibility as caregivers. Yet, our society is fast-changing as India becomes more and more developed, leading to the ascent of women entrepreneurs who have challenged norms and surmounted obstacles, not only reshaping the business landscape but also becoming beacons of motivation for aspiring entrepreneurs globally, particularly women.
A substantial contribution to the surge in entrepreneurship in recent times came from women who form a sizeable workforce in most newly-established companies. These women serve as living examples of how individuals can surmount even the most formidable challenges and emerge as successful entrepreneurs, fuelled by unwavering perseverance and a profound passion for their objectives.
The life stories of these remarkable women underscore the boundless opportunities available to those who dare to dream big and exert relentless effort to transform those dreams into reality. In recognition of these flourishing businesswomen, we have curated a compilation honouring India’s most accomplished female entrepreneurs. These exceptional individuals not only founded lucrative enterprises but also paved the way for other aspiring female entrepreneurs in their respective fields.
Falguni Nayar
Founder: Nykaa
Falguni Nayar has become a prominent figure in India after making her debut on the Forbes India Rich List 2022, securing the 44th position with a fortune exceeding $4 billion. Nayar’s tale of success began in 2012 when she established Nykaa, India’s largest e-commerce platform for beauty, fashion, and wellness.
Falguni Nayar hails from a Gujarati family in Mumbai – her father managed a small bearings firm. She earned her bachelor’s degree in business administration from Sydenham College of Commerce and Economics, followed by a postgraduate degree from the prestigious Indian Institute of Management Ahmedabad.
Before establishing Nykaa, Falguni Nayar worked as a management consultant at A.F. Ferguson & Co. She later held the position of Managing Director at Kotak Mahindra Capital before venturing into the beauty and wellness e-commerce industry.
Guided by her leadership, Nykaa has not only gained widespread recognition but has also continually adapted to cater to the evolving needs of the modern Indian woman.
Falguni’s entrepreneurial journey serves as a testament to perseverance, adaptability, and a profound understanding of customer preferences, making her an inspirational figure for budding entrepreneurs across the country.
Kiran Mazumdar Shaw: As the founder of Biocon Limited, a prominent biopharmaceutical company in India, Kiran Mazumdar-Shaw stands out as one of the most renowned women entrepreneurs in the country.
Drawing from a background in brewing and fermentation technology, she ventured into the relatively unexplored field of biotechnology in India.
Despite encountering numerous challenges and initial setbacks, Kiran demonstrated remarkable perseverance, successfully building Biocon from the ground up. Under her leadership, the company evolved into a global player in the biopharmaceutical industry, specialising in critical areas such as cancer, diabetes, and autoimmune diseases. Within a year, Biocon became India’s first company to export enzymes to Europe and the US.
In 2001, it achieved a significant milestone by becoming the first Indian company to receive approval from the US Food and Drug Administration (FDA) for manufacturing a cholesterol-lowering molecule. Biocon’s profits soared by 43% in 2003 alone, and its IPO catapulted the company’s market capitalization, making Kiran the richest woman in India.
Kiran’s steadfast commitment to innovation, research, and the pursuit of affordable healthcare solutions has garnered her widespread recognition, including multiple appearances on Forbes’ “World’s 100 Most Powerful Women” list.
Vineeta Singh
Founder: SUGAR Cosmetics & FAB BAG
Vineeta Singh, the visionary entrepreneur behind SUGAR Cosmetics, established the online beauty brand in 2015. Before this, in 2012, she founded the cosmetics brand FAB BAG. Both SUGAR and FAB BAG operate under the umbrella of Velvette Lifestyles Pvt Ltd, a larger conglomerate within the beauty and cosmetics industry.
Motivated by her passion for building the best company for women to work at, Singh draws inspiration from her father’s career, where he accepted a challenge to surpass a Nobel Laureate at the beginning and successfully achieved it 50 years later. Her narrative embodies the spirit of the new-age businesswoman, making a mark through hard work, determination, and ethical practices.
Vineeta Singh’s journey began with summer internships at ITC and Deutsche Bank, transitioning to senior roles in diverse industries like e-learning and HR after completing her MBA at the Indian Institute of Management (IIM) Ahmedabad. In 2015, she ventured into the beauty sector, founding Sugar Cosmetics, which has since evolved into a thriving beauty empire. As of November 2022, SUGAR Cosmetics boasts a YouTube channel with over 8 lakh subscribers.
Vineeta’s success story is characterised by perseverance and resilience. At the age of 23, she turned down an INR 1 Crore job offer from an investment bank to embark on her entrepreneurial journey. Over the past decade, with $85.5 million in funding and an annualised revenue of Rs. 500 Crore, Singh has become a pivotal figure in the business world. As a beloved judge on Shark Tank India, she exemplifies a heart-centred leadership approach and showcases diverse talents, contributing significantly to her success.
Upasana Taku
Founder: MobiKwik
With a background in software engineering and product management, Upasana Taku recognised the transformative potential of mobile technology in reshaping payment methods in India.
Upasana Taku, the first female leader in Indian FinTech, made a decisive shift in 2008 from the corporate world, where she found herself unfulfilled as a corporate professional. In 2009, alongside her co-founder Bipin Preet Singh, Upasana founded MobiKwik with the mission to simplify and digitise financial transactions for millions of Indians. Her leadership propelled MobiKwik into exponential growth, establishing it as a trusted platform for secure and convenient digital payments. Upholding the mantra of ‘Kick up a storm or die trying,’ Upasana’s resilience has been a guiding force, helping her maintain focus during challenging times.
Upasana’s strategic vision, technical proficiency, and dedication to financial inclusion have been instrumental in steering MobiKwik to success, solidifying its position as one of India’s most widely used mobile payment platforms.
As the pioneering female leader in Indian FinTech, Upasana Taku has not only achieved remarkable success but has also paved the way for more women entrepreneurs to explore the intersection of finance and technology. Her influence extends to inspiring more women to take charge of their finances.
Vandana Luthra
Founder: VLCC
Vandana Luthra’s entrepreneurial journey began in the 1980s with the establishment of the first Vandana Luthra Curls and Curves (VLCC) centre in New Delhi, marking her as one of the pioneering female Indian entrepreneurs.
Over the years, VLCC has evolved into a comprehensive wellness brand encompassing fitness, beauty, and nutrition, garnering a substantial following across South Asia, South East Asia, the GCC region, and East Africa.
Due to the resounding success of her company, Vandana Luthra earned the 26th position on the Forbes 2016 Asia List of 50 Powerful Businesswomen. Vandana has not only revolutionised beauty standards but has also empowered individuals to prioritise self-care and embrace healthier lifestyles.
The VLCC Institute of Nutrition and Beauty, a leading vocational education academic institution in the beauty and nutrition training segment, operates 75 campuses in 60 cities across India and one in Nepal, annually training a huge number of students.
Richa Kar
Founder: Zivame
Starting her career in the IT sector as an engineer from BITS Pilani, Richa Kar’s venture into women’s apparel with Zivame was inspired after completing her MBA at Narsee Monjee Institute of Management Studies and working for the retailer Spencer’s. Identifying a market gap for an e-commerce lingerie brand, she invested all her savings into Zivame, launching it in 2011.
Recognising the need for a platform providing women with a comfortable and discreet way to shop for lingerie, Richa initiated her entrepreneurial journey in 2011. Zivame, under her leadership, has flourished into a prominent brand with stores spanning over 30 locations across India.
Zivame, conceived by Richa, has successfully disrupted traditional norms in lingerie shopping, creating a space where women can explore and embrace body confidence without hesitation.
Richa Kar’s unwavering commitment to innovation and empowering women with diverse lingerie choices has firmly positioned Zivame as a market leader in e-commerce.
In May 2012, Richa secured her first investment in Zivame, amounting to US$3 million. Since then, the brand has experienced continuous growth, expanding both its brick-and-mortar presence and e-commerce operations.
