The prestigious Forbes India Leadership Awards 2025 (FILA) unfolded in a grand spectacle in Mumbai recently, celebrating some of the country’s most visionary and influential leaders. The event, which honours trailblazers across industries, witnessed the presence of India’s top corporate minds, entrepreneurs and innovators.

At the heart of the ceremony was the crowning of Rajesh Jejurikar, Executive Director & CEO of Mahindra & Mahindra, as CEO of the Year, recognizing his strategic leadership and role in accelerating Mahindra’s growth across the automotive and farm sectors. Supam Maheshwari, Founder & CEO of FirstCry, was named Entrepreneur of the Year and applauded for transforming India’s baby and kids’ retail market into a powerhouse brand, the Forbes India said in a press release.

The evening kicked off with a celebration of breakthrough innovations. BugWorks Research took home the Emerging Innovator Award, with co-founders Dr. Anand Anandkumar, Dr. V Balasubramanium and Dr. Santanu Datta highlighting that true innovation lies in impact, not just discovery. The Outstanding Startup Award went to BrowserStack, a company powering half the world’s banks, airlines, and tech firms, with co-founders Ritesh Arora and Nakul Aggarwal sharing their vision for the future of testing and software development.

SpiceJet Chairman Ajay Singh and Bollywood star-turned-entrepreneur Katrina Kaif were recognized as Icons of Excellence, a category that celebrates exceptional contributions across industries. Singh, reflecting on his airline’s journey, remarked on the challenges of building an airline against all odds. Meanwhile, Kaif, whose Kay Beauty brand has made waves in India’s beauty industry, spoke about the importance of having a unique voice in business.

The evening featured an engaging fireside chat where Katrina Kaif, in conversation with Forbes India’s Naini Thaker, spoke about her transition from Bollywood to boardroom, emphasizing inclusivity in branding and the evolving role of celebrities in the business world.

The Business & Economy Panel brought together some of India’s most influential leaders, including KVS Manian, Madan Sabnavis and Jejurikar, for a deep dive into India’s economic outlook. Jejurikar’s powerful statement “The world needs India more than India needs the world” resonated with the audience, underscoring the country’s growing influence on global trade and investment.

As the night progressed, Jay Shah, Chairman of ICC, veteran banker Shyam Srinivasan, and Tech Mahindra’s Mohit Joshi joined the ranks of Icons of Excellence, celebrating their leadership in sports, finance, and technology, respectively.

Startups and businesses making significant strides were also honored. Minimalist, a fast-growing skincare brand, won Promising Startup of the Year, while MTR Foods was named Regional Goliath for its deep market penetration and enduring legacy. Indra Water, a company championing sustainable water solutions, earned the Climate Warrior Award, reflecting the increasing importance of environmental consciousness in business.

The Turnaround Star Award was presented to Indian Hotels Co Ltd (IHCL) for its impressive revival under CEO Puneet Chhatwal, while Varun Jaipuria of Varun Beverages took home the Next-Gen Entrepreneur Award, celebrating his leadership in expanding one of India’s largest beverage bottling companies. Ashish Dhawan, a visionary philanthropist and education advocate, was recognized as an Institution Builder for his contributions to Ashoka University and the Central Square Foundation.

The night concluded with a grand finale as all winners gathered for a celebratory toast and a group photograph, encapsulating the spirit of excellence and visionary leadership that defined the evening.

“Forbes India Leadership Awards are a tribute to those who dare to lead, disrupt, and transform,” said Suveen Sinha, Editor of Forbes India, adding, “In times of uncertainty, these leaders have seized the day, and tonight, we celebrate their relentless pursuit of excellence.”