Naina Lal Kidwai-A Force to Reckon With

Naina Lal Kidwai, 45, a renowned Banking Guru, Vice-Chairman and Managing Director of HSBC Securities & Capital Markets is unarguably the highest-paid women executive in India and one of the country's foremost businesswomen. The Fortune magazine in its list of the world's top 50 corporate women has picked her in 2003 for her outstanding achievement in the corporate arena.

Her Background

Raised in Mumbai and Delhi, she went away to school in Simla, in the Himalayas, and has conducted her career at similarly lofty heights ever since. A Delhi University alumna,she graduated from Harvard Business School in 1982 and was the first Indian woman on their rolls. Her qualifications and experience have underlined her success, and she readily admits, that gender has rarely been a barrier to her success.

Her Persona

Naina Lal Kidwai is arguably a creator of trends. When she shows interest in a company, people sit up and take notice. Her ability to learn from her experience and use that knowledge has seen her scale the corporate ladder rapidly. Her success has been credited to her skills at networking with the bureaucracy and the corporate world. Her instinct for spotting a deal combined with her ability to predict market trends have contributed to her meteoric success in the corporate world. Kidwai joined ANZ Grindlays Bank (now Standard Chartered Bank) in India in 1982, rising through the ranks in a variety of merchant, retail, and investment banking assignments.In 1994, when she joined Morgan Stanley, IT was not the rage. It was only an emerging investment area. Naina Lal Kidwai spotted the opportunity and cashed in for her clients.In 1999, when Morgan Stanley was in trouble with its mutual funds, Kidwai took it by the scruff of its neck and implemented a strategic business plan that was focused on IT investments. Since then, she has been involved with helping Indian IT giants raise capital.


Through a joint venture with the investment bank JM Financial that she helped draft, Kidwai expanded Morgan Stanley’s impact in the country dramatically. She was instrumental in the NYSE listing of Wipro; in facilitating nationwide cellular phone service through a deal involving the Tata and Birla families and AT&T; IPO of automobile giant Maruti Udyog, and in a number of privatizations. November 2002, she became vice chairman and managing director of The Hongkong and Shanghai Banking Corporation’s (HSBC) investment banking and securities business in India. She was selected as one of 2002’s fifteen emerging “Global Influentials” by Time magazine; in 2000, Fortune magazine named her the third most powerful businesswoman in Asia.
Ranked 47th in the Fortune magazine's list(2003), Kidwai is recognized as one of the most powerful investment bankers in the country. Her success as a banker has given her a strong foothold in a male-dominated sector of Investment Banking.

Married and the mother of two children, Kidwai, a devotee of Western and Indian classical music, enjoys returning to the Himalayas for trekking and to observe wildlife.

Kidwai says she has no plans to leave India. "In the U.S., I may have brokered bigger deals, but here, it's much more at the cutting edge of reform, the ability to influence, to shape."

Kiran Mazumdar Shaw- India's Biotech Queen

Kiran Mazumdar Shaw,biotech entrepreneur and Chairperson of Biocon India Group is the wealthiest woman in India.Biocon India, is a pioneering biotechnology company engaged in the manufacture of bio-molecules for healthcare and specialty industrial enzymes.

She is Forward looking, driven, enterprising and definitely outspoken, Kiran is everything that one would look to in a woman of her stature.She is married to John Shaw, a Scotsman and Indophile, who headed a leading textiles MNC, Madura Coats from 1991-1998 as Chairman and Managing Director. John Shaw has since joined Biocon as Director, International Business and is the Vice Chairman of the Board.

Just to indicate her background, Ms. Shaw received a graduate honours degree in Zoology from Bangalore University (1973) and qualified as a Master Brewer from Ballarat University, Australia (1975). Ms Shaw also received an honorary Doctorate of Science, from her alma mater, Ballarat University, in recognition of her pre-eminent contributions to the field of Biotechnology. Recently she also received an Honorary Doctorate from the Manipal Academy of Higher Education (MAHE), in recognition of her outstanding achievements in biotechnology and industrial enzymes.

So how did Biocon India happen?

The Biocon India Group story began in 1978 when Leslie Auchincloss, owner of the small Irish multinational company Biocon Biochemicals and Kiran Mazumdar founded Biocon India - owned 70 per cent by Kiran and 30 per cent by the Irish company. The business was established In Bangalore and Ms Mazumdar was appointed Chairman & Managing Director. In 1983 the company acquired 20 acres of land close to Bangalore city and moved its operation where it is presently located.

In 1989 a new phase in the development of Biocon India opened when Biocon Ireland was acquired by the Anglo Dutch giant - Unilever. Unilever thereby acquired the 30 per cent holding in Biocon India owned by Biocon Ireland. As a result of this, Biocon India became an associate of the multinational giant.

In 1997 when Unilever put its Specialty Chemicals Division up for sale. it was purchased by lCI in a global deal valued at $9 million. As a result, the shareholding In the Biocon India Group was transferred from Unilever to ICI ownership. This gave Ms Shaw the opportunity to negotiate with ICI as the articles of the various companies in the Biocon Group gave pre-emptive rights to existing shareholders.

Eventually her husband John Shaw purchased the entire shareholding of ICI in the various Biocon India Group companies and joined the management team of the group. As a result of this transaction, the Biocon India Group Companies were owned and controlled by Ms Shaw and her husband with key employees participating via various stock option schemes.

An associate company or Biocon, Syngene International was established in 1994 to carry out drug-based contract research as well as informatics- based software development for the pharmaceutical industry. Syngene International designs and manages research projects for companies with interests in pharmaceuticals and biotechnology. Syngene's strengths lie in the areas of molecular biology, synthetic chemistry and informatics.

In August 2000, Clinigene International was established to conduct longitudinal clinical studies in select disease segments.

The diversity and density of Indian patient populations was perceived to be a unique niche for Clinigene to pursue a new approach in specialised clinical studies with a view to create new medical wisdom.
The government of Karnataka recognised the relevance and importance of biotechnology and constituted and constituted the "Vision Group on Biotechnology" under the chairmanship or Ms Shaw.

Ever since Biocon became the buzzword in the market for the emerging field of biotechnology, Kiran has been a much-quoted personality. But she will always tells you that her belief in the field, a magnificent team of people who shared her passion for the subject, determination and urge to succeed have all contributed to Biocon's reputation as the leader in the field.

BT with a Vision:

The Biocon group has many success stories to its credit. It has been successful in setting up a premiere educational institution called the Institute of Bioinformatics and Applied Biotechnology (IBAB) in Bangalore which imparts biotechnology training and education. But the most important success stories of the Vision Group is the conception and organisation of BangaloreBio, which is an annual event to showcase biotechnology opportunities and initiatives. The government of Karnataka has declared April 15 as an annual calendar date for BangaloreBio. The Group has also played an important role in the formulation of a Biotechnology policy for the state.
It is not just BT all the way for Kiran Mazumdar Shaw. There is more than just biotechnology that this astute businesswoman loves - the city of Bangalore.In her effort to preserve the character of Bangalore, she has been proactively involved in various city improvement plans like the Bangalore Agenda Task Force (BATF).

Her Persona:

She has also written a book, "Ale and Arty - The story of Beer" as a tribute to her father. who was a technical adviser for United Breweries. This coffee table book is a piece of art in ltself and is a confluence of beer facts and beautiful paintings to go with each chapter.

Ms. Shaw is the recipient of several prestigious awards including the ET Businesswoman of the Year, Best Woman Entrepreneur, Model Employer, Ernst & Young's Entrepreneur of the Year Award for Life Sciences & Healthcare, Leading Exporter, Outstanding Citizen, Technology Pioneer, etc. Her most cherished awards are however, the PADMASHRI (1989) and PADMA BHUSHAN (2005) presented to her by the President of India, for her pioneering efforts in Industrial Biotechnology.


Kiran Mazumdar-Shaw's pioneering efforts in biotechnology have drawn global recognition both for Indian Industry and Biocon. Her unique vision has steered Biocon's transition from an industrial enzymes company to an integrated biopharmaceutical company with strategic research initiatives. Biocon is today recognised as India's pioneering biotech enterprise.

India's Wealthiest Women (2005)

Kiran Mazumdar-Shaw, 50,Biocon Chairperson, is India's wealthiest woman with a personal net worth of Rs 1,920 crore (Rs 19.2 billion).Mazumdar-Shaw also ranks as the 15th richest billionaire in India.

Sudha Gopalkrishan, whose net worth currently stands at Rs 1,023 crore (Rs 10.23 billion)comes in second. Gopalakrishnan's wealth comes from her holding of 1.92 million shares in Infosys Technologies.


Sudha Murthy, wife of Infosys Technologies founder, Narayana Murthy ranks third among women billionaires, with a personal net worth of Rs 775 crore (Rs 7.75 billion).

The other women billionaires are Rohini Nilekani (wife of Nandan Nilekani) and Akshata Murthy (daughter of Narayana Murthy) and both are individually worth Rs 675 crore (Rs 6.75 billion).


Anu Aga, chairperson of the Pune-based Thermax, is worth Rs 699 crore (Rs 6.99 billion)

Asha Dinesh (Infosys Technologies) is worth Rs 587 crore (Rs 5.87 billion)

Jamuna Raghvan (wife of former Infosys Technologies joint managing director N S Raghavan) is worth Rs 554 crore (Rs 5.54 billion).