Indians spread out to newer sectors as bosses of global companies

Three in every five or 61% of the top 300 publicly listed global companies have C-suite executives and board directors of Indian origin, according to a study, mirroring India's growing stature in international business.

Most of these leaders are 50-60 years old, highlighting the need for more “experienced leadership in governance roles” at these global firms, according to search firm EMA Partners, which shared findings exclusively with Mint. The study covered firms listed on NYSE, Nasdaq and LSE.

“We have seen that Indian leaders possess the skillsets to succeed in a global environment with their ability to adapt to a rapidly evolving business environment,” said K Sudarshan, managing director, EMA Partners India Ltd. “Most of them, having grown up in an ultra-competitive environment, can succeed in global corporations. In our view, this reflects India’s growing economic heft.”

C-suite occupants 

The top 30 companies—10 each in the three exchanges—saw an increase of 89% in the overall C-suite representation of Indian-origin leaders across sectors. From 37 in 2019, the count went up to 70 in 2024 at these firms.

Some of the top leaders of Indian origin at global firms include Sundar Pichai, chief executive officer at Alphabet; Reshma Kewalramani, CEO of Vertex Pharmaceuticals; Satya Nadella CEO of Microsoft Corporation; Jayshree V. Ullal, CEO of Arista Networks; Vaibhav Taneja, CFO of Tesla; Shantanu Narayen, CEO of Adobe.

The study—Indian Leadership Across Global Stock Exchanges—finds IT and technology sectors account for the highest share of Indian-origin CXOs at 30%, followed by banking and financial services at 27%, while consumer & retail and lifesciences & healthcare account for 11% each. The posts these CXOs hold include chief executive officer (CEO); chief financial officer (CFO), chief technology officer (CTO) and chief information officer (CIO).

Spreading out to newer areas

“Semiconductors, financial services, healthcare, alcobev (alcoholic beverages) and industrial goods are emerging sectors that are witnessing a growing number of Indians at the helm,” said Mr Sudarshan.

A closer look at their connection with their Indian roots highlight that 35% of these leaders have completed their education solely in India, while 34% graduated in India and pursued post-graduation overseas.

The number of women CXOs of Indian origin has also jumped. They occupy 23% of leadership positions in the top firms across all three exchanges. Of the 51 Indian female leaders in C-suite positions (excluding board directors), 27% are CEOs or equivalent; 16% are CIO/CTO; while 14% serve as CHROs or in an equivalent function

(By arrangement with livemint.com)