According to the 2024 Burgundy Private Hurun India 500 report, India’s 10 most valuable companies now collectively hold a market worth of $1.1 trillion, surpassing the Gross Domestic Product (GDP) of Saudi Arabia. These companies account for about one-third of India’s GDP and contribute 30% to the total valuation of the country’s top 500 firms. Over the past year, their combined worth has surged by $261.07 billion, with Bharti Airtel achieving a remarkable 75% growth, adding $46 billion to its market value. The National Stock Exchange (NSE) also experienced an unprecedented 201% rise, reaching a valuation of $54.05 billion. Reliance Industries remains the most valuable company at $201.27 billion, followed closely by Tata Consultancy Services (TCS) at $185.16 billion.
The report highlights significant expansion within India’s corporate sector, with the total market capitalization of these leading firms reaching $3.8 trillion. Sales among them have grown by 11%, collectively surpassing $1 trillion. Notably, 82 new companies, including startups like Zepto, Physics Wallah, and OYO, have entered the rankings. Physics Wallah stands out with a staggering 172% increase in valuation.
The financial services industry continues to dominate, contributing 19% of the overall market value, while emerging sectors such as healthcare and energy are gaining traction. The report also underscores the international expansion of Indian companies, with 59% now having a global presence. Additionally, female representation in corporate boards has grown, now making up 17% of board seats. Shifts in business geography are also evident, with Haryana breaking into the top three states for the first time.
