Nooyi on Forbes Most Powerful Businesswomen List

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According to Forbes, this year's Most Powerful Women are shaping the future of technology, defense and media –- and overseeing more than $1 trillion in revenue.

Profits and revenue increased at Pepsi in 2011, but investors have been wary that Nooyi's push into “good for you” products comes at the expense of the company's core offerings, the magazine said. In January, the board publicly backed her, and she's since revamped management and boosted advertising budgets.

Under Kochhar’s leadership, ICICI Bank won the “Best Retail Bank in India” award in 2001, 2003, 2004 and 2005 and “Excellence in Retail Banking Award” in 2002.

A three-decade veteran of Indian banking, Sharma is charting a course for Axis Bank -- making it India's JPMorgan Chase & Co., Forbes said.

Kidwai, a chartered accountant by profession, is an Indian banker and business executive, and was the first Indian woman to graduate from Harvard Business School, the magazine said.