India’s Top 10 Companies Surpass $1 Trillion In Value; Outpacing Saudi Arabia’s GDP

India’s corporate sector has reached a remarkable milestone, with the combined value of the country’s top 10 most valuable companies soaring to Rs 96 lakh crore (approximately $1.1 trillion).

This impressive figure now exceeds the entire GDP of Saudi Arabia, according to the 2024 Burgundy Private Hurun India 500 report.

These 10 firms now account for nearly one-third of India’s GDP and 30% of the total value of the nation’s top 500 companies.

The total value of these top 10 companies has surged by Rs 22.7 lakh crore over the past year, highlighting the extraordinary growth in India’s corporate sector.

Bharti Airtel has been a standout performer, experiencing a remarkable 75% increase, adding Rs 4 lakh crore to its market value.

The National Stock Exchange (NSE) has also achieved impressive growth, with its valuation more than doubling by 201% to reach Rs 4.7 lakh crore marking the highest increase in percentage terms.

Reliance Industries Leads The Pack

Reliance Industries, led by Mukesh Ambani, remains the top-ranked company with a valuation of Rs 17.5 lakh crore, reflecting a 12% increase from the previous year.

Following closely behind is Tata Consultancy Services (TCS), which has seen its market value rise to Rs 16.1 lakh crore, a 30% growth compared to the previous year. HDFC Bank, Bharti Airtel, and ICICI Bank round out the top five, with Bharti Airtel’s impressive 75% growth propelling it forward.

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The 2024 Burgundy Private Hurun India 500, compiled by Burgundy Private, Axis Bank’s Private Banking Business, and Hurun India, ranks India’s 500 most valuable companies based on market capitalization (for listed companies) or valuations (for non-listed companies).

To qualify for the list, companies must have a minimum value of Rs 9,580 crore (equivalent to $1.1 billion) as of December 13, 2024. The average age of the companies on the list is 43 years.

India’s Top Companies Drive National Growth

The cumulative value of the 500 companies on this year’s list is Rs 324 lakh crore (approximately $3.8 trillion), underscoring the crucial role these businesses play in driving India’s economic growth.

Together, these companies employ 8.4 million people, contribute Rs 2.2 lakh crore in taxes, and allocate Rs 10,939 crore toward corporate social responsibility (CSR) initiatives, further solidifying their impact on the country’s development.

India’s corporate giants continue to lead the charge in economic expansion, showcasing their strength in both domestic and global markets.