She is followed by Arundhati Bhattacharya, the chairman of the country's largest lender State Bank of India, whose ranking has also moved up from the fourth spot she was at last year, the magazine added.
State-run oil marketing company Hindustan Petroleum Corporation's chairman and managing director Nishi Vasudeva has also made it to the list at fifth rank, same as previous, it said.
Country's third largest private sector lender Axis Bank's managing director and chief executive Shikha Sharma comes in at the ninth spot in the list.