The landscape of Indian entrepreneurship has reached a new milestone, with the combined business value of the country's self-made founders soaring to Rs 42 lakh crore. This impressive growth, up from Rs 36 lakh crore the previous year, is highlighted in the latest IDFC FIRST Private & Hurun India Top 200 Self-Made Entrepreneurs of the Millennia 2025 report, released on Wednesday, December 19, 2024.
New Leadership and Powerful Debuts
Topping the prestigious list for the first time is Deepinder Goyal, the CEO of food delivery giant Zomato and its parent company Eternal. Goyal's ascent to the number one spot sees him overtake veteran retail investor Radhakishan Damani of DMart (Avenue Supermarts), who now occupies the second position.
One of the most remarkable stories of this year's ranking is the stunning debut of Rahul Bhatia and Rakesh Gangwal, the founders of InterGlobe Aviation, which operates IndiGo. They entered the list directly at rank number three, commanding a formidable valuation of Rs 2.2 lakh crore.
Consistent Performers and Significant Leaps
The list also underscores the sustained success of several established entrepreneurs. Falguni Nayar and Adwaita Nayar, the mother-daughter duo behind beauty retailer Nykaa, not only retained their place in the Top 10 but also led the separate ranking of women entrepreneurs for the millennium.
Another notable climber is Peyush Bansal's Lenskart. The eyewear brand made a significant jump to secure the 10th position for the first time, achieving a valuation of Rs 67,000 crore.
The top 10 is a mix of new-age tech pioneers and seasoned business leaders, featuring names from diverse sectors like healthcare (Abhay Soi of Max Healthcare), travel (Deep Kalra & Rajesh Magow of MakeMyTrip), fintech (Vijay Shekhar Sharma of Paytm), and insurance tech (Yashish Dahiya & Alok Bansal of Policybazaar).
A Showcase of Youth and Experience
The Hurun report vividly captures the generational spread of India's entrepreneurial drive. On one end, the founders of quick-commerce platform Zepto, 22-year-old Kaivalya Vohra and 23-year-old Aadit Palicha, stand as the youngest on the list. On the other, 82-year-old Ashok Soota of Happiest Minds Technologies exemplifies how veteran founders continue to lead with invaluable experience and vision.
Geographically, the entrepreneurial talent is concentrated in major hubs. The report features founders from 51 cities across India, with Bengaluru, Mumbai, and New Delhi together accounting for more than half of all listed entrepreneurs.
The methodology for the ranking considered the 200 most valuable companies in India established after the year 2000. Valuations were based on market capitalisation for listed entities and estimated valuations for private companies, with a cut-off date of September 25, 2025.
