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Radhakishan Damani, Founder of DMart, maintained the top position among IDFC First Private & Hurun India’s Top 200 Millennium Self-Employers 2024, with a valuation of Rs 3.4 lakh crore, representing a growth of 44%. Deepinder Goyal’s Zomato is close behind, valued at over Rs 2.5 lakh crore and seeing a notable 190% rise. Swiggy founders Sriharsha Majety and Nandan Reddy bagged the third position. The rise in demand for fast commerce among Indian consumers has propelled these entrepreneurs to the top of the list.
Notable non-unicorn companies in the top ten rankings include Avenue Supermarts, Zomato, Max Healthcare Institute, Makemytrip, Policy Bazaar and Nykaa. Notably, three of the top ten companies are based in Mumbai, Bengaluru and Gurugram.
According to the report, 56 founders and 32 companies have recently been added to the list of IDFC First Private & Hurun India’s Top 200 Millennium Entrepreneurs 2024. In addition, this year there are 32 abandonments. There has been a 15% increase in the number of billion-dollar companies founded by self-employed millennial entrepreneurs, with a total of 121 such companies now included on the list. Three people on the list are worth INR 1 lakh crore or more, compared to two people last year.
The threshold to enter IDFC First Private & Hurun India’s Top 200 Millennium Self-Employers 2024 list has been increased by 13% to Rs 3,400 crore.
The spectacular growth of the Indian stock market attracted 12 new entrants to the market. Among these newcomers, 38% come from established, publicly traded companies, while the remaining 18 emerge from the startup sector. This trend indicates a possible thaw in the previously challenging startup funding environment.
The combined value of all the companies on this list stands at Rs 36 lakh crore ($431 billion), which is a significant increase of 20% compared to last year. This value is almost equivalent to the GDP of Maharashtra and exceeds the GDP of all other states in India.
