Business Today

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Powering Through Another Shock

Business Today

INDIA’S FRAGILE GASONOMY • India has long been known for its massive appetite for imported gas. But as the conflict between Israel-US and Iran escalates, India’s reliance on imported energy has come to haunt its economy. The real concern lies in a narrow chokepoint—the Strait of Hormuz

THE ENERGY PINCH • The West Asia conflict has raised concerns about India’s energy security. As prices rise and supplies falter, the crisis could be a turning point in the country’s macro playbook

Q&A SUSTAINABILITY IS A TEAM SPORT • Jim Andrew, Chief Sustainability Officer, PepsiCo, on regenerative agriculture, water security, and more

INDIA’S BEST CEOs 2025-26 • The new corporate India is confident and raring to go… There is no paucity of opportunities in the domestic market and venturing overseas is not optional anymore. Regardless of sector, companies have attained size and scale, adapted well to technology, continued to innovate and demonstrated the ability to grow. In the pages that follow, we highlight the winners in the BT-PwC India’s Best CEOs Survey. These are companies that have turned adversity into an advantage

GROWTH KING • Vellayan Subbiah has disrupted his own businesses and successfully turned around assets. Now he is readying the Murugappa Group for the next phase of growth

Q&A FREE CASH FLOW MOST RELEVANT MEASURE • Vellayan Subbiah, who heads three companies in the Murugappa Group, on the conglomerate’s forays into new technology sectors

THE CEO WHO DREAMS BIG • Arundhati Bhattacharya distinguished herself as SBI Chairperson. At Salesforce, she is leading the digital transformation with ease

BUILDING TRUST • Three decades after helping lay the foundations of India’s modern stock market, Ashishkumar Chauhan returned to the NSE as its MD & CEO to take it to the next level

CEMENTING SUCCESS • Madhavkrishna Singhania, Joint MD and CEO of JK Cement, is scaling up the grey cement business while building adjacent businesses. Sustainability remains a key focus

NEW DIRECTION • Anurag Choudhary has expanded Himadri Speciality Chemical beyond its traditional carbon business into specialty chemicals and advanced materials

THE DEPOSITORY VAULT • Nehal Vora’s leadership helped CDSL expand into new business areas, shaped by regulatory evolution

A NEW ‘RISE’ • Under Anish Shah, Mahindra & Mahindra has reinterpreted its “Rise” philosophy and moved away from expansive ambition to disciplined growth

MORE THAN THE SUM OF THE PARTS • Dixon is betting big on backward integration by forming joint ventures to make key electronics components locally

FOCUS ON HOLISTIC GROWTH • Under Sharvil Patel, Zydus Lifesciences’ pipeline reflects a strategy built on sustained innovation

PRINCE OF PORTS • With consistent investment, Adani Ports & SEZ has become India’s largest private port operator

A 360-DEGREE DOMINANCE • Karan Bhagat has anchored 360 ONE WAM’s growth through a strategic shift from product distribution to advisory and annuity-based income

SOWING THE SEEDS • Arun Alagappan increased the breadth of offerings and strengthened the agri-solutions platform to make Coromandel an integrated player

HITTING THE REFRESH BUTTON • Jinal Mehta’s focus on consumer connect and M&A skills sets Torrent Power on path to industry dominance

THE GROWTH CAPTAIN • With localisation, service and technology at the core, Sanjeev Sharma is positioning ABB to capitalise on India’s next industrial capex wave

DIVERSIFYING CRUDE BASKET • Under...