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Indian Aces 2025: When business success becomes social infrastructure

What sets this year’s Change Makers in the Indian Aces 2025 list apart is how they’ve turned profit into purpose – and made purpose profitable

Indian Aces 2025 Change Makers

The 2025 Indian Aces Change Makers category has its healthcare titans.

Dr Zulekha Daud, the region’s first recognised Indian woman medical professional, still commands respect after six decades. Alisha Moopen, leading Aster DM Healthcare’s 20 million patients annually. Faizal E. Kottikollon, transforming scrap metal origins into a $215 million conglomerate.

But what makes this year’s Change Makers different isn’t just their business achievements. It’s how they’ve turned profit into purpose – and made that purpose profitable.

These aren’t leaders who built companies and then did good. They’re leaders who discovered that doing good is how you build companies.

When green becomes gold

Take Kabir Mulchandani at FIVE Holdings. His company doesn’t just run hotels – it operates the UAE’s first hotel chain powered entirely by renewable electricity. That’s not just environmental compliance. It’s market leadership.

His $350 million acquisition of The Pacha Group shows how sustainability becomes a competitive advantage, not a cost centre.

Alongside him is Siddeek Ahmed, whose Eram Group deployed over 2,500 e-toilet units across India. His company won India’s first Swachh Bharat hackathon. That’s not corporate social responsibility. That’s engineering solutions to social challenges whilst building billion-dollar enterprises.

Technology leaders are reshaping entire sectors. Ashish Koshy at Inception, G42’s AI company, doesn’t just develop software – he’s positioning the UAE as a regional centre for applied artificial intelligence. His work spans healthcare, energy, and enterprise sectors, creating infrastructure that extends far beyond commercial applications.

Then there’s the cross-border impact. Surender S. Kandhari built Al Dobowi Group across five continents, becoming the MENA region’s largest battery manufacturer.

But his Guru Nanak Darbar Sikh Temple feeds over 1,500 people daily. That’s not philanthropy as an afterthought. That’s community building as core strategy.

The new generation effect

The demographic story matters too. These leaders span generations – from Dr Daud’s six-decade journey to younger entrepreneurs like Amar Nagaram at VIRGIO, who raised $7 million to pioneer circular fashion. One in three operates across multiple countries. This isn’t just business expansion. It’s impact scaling.

What the Change Makers category reveals is that the old boundaries – between profit and purpose, between business and social impact – are dissolving. What’s emerging instead is a new model of leadership.

People who build healthcare networks that serve millions, deploy technology that solves societal challenges, and create sustainable business models that become industry standards.

This is what influence looks like in the Middle East today – and it’s already pointing to how business leadership will evolve across emerging markets.

RANKNAMEDESIGNATIONCOMPANY
1Zulekha DaudFounder and ChairpersonZulekha Healthcare Group
2Kabir MulchandaniFounder and CEOFIVE Holdings
3Alisha MoopenManaging Director and Group CEOAster DM Healthcare
4Faizal E. KottikollonFounder and ChairmanKEF Holdings
5Surender S. KandhariChairman and FounderAl Dobowi Group
6Vasu ShroffChairmanRegal Group
7Siddeek AhmedChairman and Managing DirectorEram Group
8Syed M. SalahuddinManaging DirectorAscon Star Group
9Aloki BatraCEOFive Holdings
10Siddharth BalachandranExecutive Chairman and CEOBuimerc Corporation
11Rizwan AdatiaFounder and ChairmanRAF Global
12Amar NagaramCo-founder and CEOVIRGIO
13Kamal VachaniPartner and Group DirectorAl Maya Group
14Neelesh BhatnagarManaging DirectorNB Ventures
15Satish SanpalChairmanANAX Holding
16Ashish KoshyGroup COOM42
17Sir Sohan RoyFounder, Chairman and CEOAries Group
18V. (Subbu) HariharanManaging DirectorCanon Middle East and Turkey
19Yousuf FakhruddinCEO and Managing PartnerFakhruddin Properties
20K.P HussainChairman and Managing DirectorFathima Healthcare Group
21Sophia PathaiVice President of MedicineHevolution Foundation
22Sanjay RaghunathChaiman and Managing DirectorCentena Group
23Sunil KumarCEODataFlow Group
24Avi BhojaniCEOBPG Group
25Prateek SuriFounder and CEOMaser Group

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Sharon Benjamin

Born and raised in the heart of the Middle East, Sharon Benjamin has been making waves as a reporter for Arabian Business since 2022. With a keen eye for detail and an insatiable curiosity for the world...