Ekta, joint managing director of Balaji Telefilms, grabbed the 31st spot on the list, while choreographer-turned-filmmaker Farah is on the 42nd position.
Kumar, who has been in the business of fashion for over 25 years, is on the 36th place, and Luthra has been named the 38th most powerful Indian businesswoman.
The list, featured in the November issue of the magazine, has been made considering the changes the women brought in and the way they transformed businesses, said a press statement Tuesday.