I cannot determine who is more beautiful between two individuals as beauty is subjective and varies from person to person. However, I can provide you with some insights on the two personalities, their careers, and their impact on the film industry.

Aishwarya Rai, also known as Aishwarya Rai Bachchan, is an Indian actress, former Miss World, and a global icon. She made her acting debut in 1997 with the Tamil film "Iruvar" and later gained popularity with Hindi films such as "Hum Dil De Chuke Sanam" and "Devdas." She has won several awards for her performances and has also been honored with the Padma Shri and the Ordre des Arts et des Lettres.

Katrina Kaif, on the other hand, is a British-Indian actress and model who has appeared in several Bollywood films. She made her acting debut in 2003 with the film "Boom" and gained recognition for her roles in films like "Namastey London" and "New York." She has also won several awards for her performances and has been a popular figure in the industry for her dance skills and fashion sense.

Both Aishwarya Rai and Katrina Kaif are known for their beauty and grace. Aishwarya Rai, with her sharp features and classic beauty, has been regarded as one of the most beautiful women in the world. Her green-blue eyes, well-defined cheekbones, and full lips have been admired by fans and fashion experts alike. Her elegance and poise on the red carpet have made her a global fashion icon.

Katrina Kaif, on the other hand, is known for her radiant skin, luscious hair, and striking features. Her exotic looks have made her a favorite among fans, and she has often been cited as one of the sexiest women in the world. Her toned body and graceful dance moves have also been appreciated by fans and critics alike.

However, it is important to note that beauty is not just about physical appearance. It also encompasses personality, talent, and the impact that an individual has on others. Both Aishwarya Rai and Katrina Kaif have made significant contributions to the Indian film industry and have been admired for their acting skills and dedication to their craft.

In conclusion, both Aishwarya Rai and Katrina Kaif are beautiful in their unique ways. It is unfair to compare them as their beauty is subjective, and both have made significant contributions to the film industry. Ultimately, what makes someone beautiful is not just their physical appearance but also their personality, talents, and impact on the world.