India is one of the fastest growing countries in the world. Some industries and companies are generating great revenues, and therefore, the people in charge are remunerated accordingly. Here is a list of the highest paid CEO in India, over the last few years.
Five New Faces in the Top 10 – Same Number One
In 2019-2020, many new CEOs entered the top 10 of highest paid employees in India. In fact, five of the ten names on the list were not on it, in 2018. However, one name remains strong, at number one: C.P. Gurnani.
Although Tech Mahindra is only the fifth largest provider of service in India, it holds the record of the highest salary paid to a CEO, for the second year in a row. Gurnani, who is the CEO of this multinational information technology and IT Solution provider, has been paid Rs. 150.7 crores. That is including benefits and bonuses. It is more than the CEOs of larger companies such as TCS and Infosys. He is one of the highest paid CEO in the world.
New Entries at Number Two and Three
The podium in 2019-2020 is completed by two CEOs who did not make the list, the prior year.
At number two, we find Anil Manibhai Naik, the CEO of an engineering group called Larson & Toubro Group Limited. He won business awards in 2009 and 2019, coming in third on Padma Bhushan prizes the first time and second during this fiscal year. His salary is currently at Rs. 66.14 crores.
Kalanithi Maran comes in as the new number three. He also was absent from the list in 2018. President and CEO of three different companies (Sun Group, Syriac and Red FM), he is also the grandson of the former Tamil Nadu Chief Minister, M. Karunanidhi. He was nicknamed “King of South India TV” by Forbes and given awards from CNBC and Ernst & Young. He currently earns Rs. 62 crores.
Number Four: A Small Slide
Pawan Munjal went from number two in 2018 to number four in 2019-2020. He is the son of Brigman Lal Mangal. As President, Managing Director and CEO of Hero Motocorp, he receives a salary of Rs. 60 crores. He entered a strong partnership agreement with Honda and is considered to be part of the 50 most important people in India.
A New Arrival at Number Five
Vishal Sikka has entered the list of largest Indian CEO salaries in 2019-2020. His salary of Rs. 45. 11 crores includes 50% in bonuses. He is not only the CEO of Infosys (the second largest IT service provider in India) but also a full-time Board Member and its Managing Director.
At Number Six: A Well-known Name in India
N Chandrasekaran salary arrives in sixth position on the list of CEO income in India. However, his name is well-known, as he is one of the youngest CEOs to take office at Tata’s, back in 2009. It was well deserved as he has spent his entire career inside the company and led it to revenues of 16.5 billion US dollars in 2015-2016. His current salary is Rs. 25.9 crores.
A Billionaire at Number Seven
Although he did not make the list in 2018, Rahul Bajaj is one of the few billionaires in the world. He took over the Bajaj group in 1965 and today he is the Chairman. Before he started working, he had studied at Harvard Business School. His current salary is Rs. 25.59 crores.
At Number Eight: A Foreigner
It took two years for Tata Motors to choose a new CEO. They found it in the person of Guenter Butschek, a foreigner that they appointed back in 2016. He is one of the best paid CEOs in the world of automotive, and is commanding a salary of Rs. 22.5 crores.
At Number nine: An Important Person for India’s Industrial Revolution
Moving down from number seven in 2018 to number nine today is Kumar Mangalam Birla, President of the Aditya Birla Group and also Advisor to the Birla Institute of Technology and Science. He is considered one of the most important industrialists in India. He was named CEO at only 28 years of age, back in 1995. Today his salary is Rs. 22.5 crores.
Number ten: A CEO from the Tobacco Industry
Closing the list in 2019-2020, is Yogesh Chander Deveshwar. President and CEO of India Tobacco Company (ITC). He is the oldest CEO in India. His current salary is Rs. 21 crores.
The CEOs Who Made the List in 2018
Some of the largest CEO income in India in 2018 has dropped out. Although they are still in function, other salaries have surpassed theirs. Here are a few of them:
Aditya Puri: 40 years experience in the banking sector and MD of HDFC Bank (ex-number two)
Sunil Mittal: Brought Bharti Airtel to new heights, and interested in social welfare and promotion of better education. (ex-number four)
Navin Agarwal: He has completed his silver jubilee in his company, and he has an interest in uplifting the socio-economic structure. (ex-number ten)