India’s corporate giants are booming, with the top 10 companies boasting a combined value that exceeds Saudi Arabia’s GDP. According to the 2024 Burgundy Private Hurun India 500 list, the country’s top 10 most valuable companies have a combined valuation of Rs 96 lakh crore (nearly one-third of India’s GDP). This is up from Rs 74 lakh crore in 2023. Reliance Industries, headed by Mukesh Ambani, and TCS, a leading tech company, top the list. Bharti Airtel, led by Sunil Mittal, has contributed the highest value in absolute terms, adding over Rs 4 lakh crore in 2024.
The report highlights the significant economic influence of these companies, which employ 8.4 million people. Anas Rahman Junaid, Founder and Chief Researcher at Hurun India, states that understanding the stories behind these top 10 companies is a great way to comprehend the development of the Indian economy. The combined valuation of the top 10 companies is a staggering $3.8 trillion, exceeding India’s annual GDP. This consolidation of wealth and power is a testament to India’s growing economic prowess. The report emphasizes that these companies form the backbone of India’s private sector, with immense financial muscle to shape the country’s economic future.