Ms Nooyi takes up the top job at Pepsico in October

She came ahead of Sonia Gandhi, the Italian-born leader of India's Congress party, who was named 13th on the list.

PepsiCo named Ms Nooyi new boss last month. She starts her job in October.

German Chancellor Angela Merkel came first on the list, US secretary of state Condoleezza Rice second and Chinese vice-premier Wu Yi third.

The index is based on visibility in the media as well as economic impact.

Ms Nooyi's promotion from chief financial officer will make Pepsico the second-largest US firm led by a woman.

The 50-year-old has been with the food and drinks giant since 1994, and in the chief financial officer role since 2001.

She is credited with leading Pepsico's takeover of the Tropicana fruit juice company.

Born in the southern Indian city of Madras (Chennai), Ms Nooyi holds a master's degree from the Yale School of Management.