Zomato and Swiggy Founders Shine in IDFC FIRST & Hurun India's Top 200 Entrepreneurs of the Millennia DMart founder Radhakishan Damani topped the list, while Zerodha founders Nithin and Nikhil Kamath secured the eighth position.
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In recognition of the phenomenal contributions of visionary entrepreneurs to India's economy, the second edition of IDFC FIRST PRIVATE & HURUN INDIA'S TOP 200 SELF-MADE ENTREPRENEURS OF THE MILLENNIA 2024 has been released. The top 200 most valued businesses founded after 2000 are highlighted in this yearly study, which was produced in partnership with IDFC FIRST Private Banking and Hurun India. It also underscores how these entrepreneurs have revolutionised the business environment in India.
"These business leaders exemplify innovation, resilience, and a relentless pursuit of excellence. At IDFC FIRST Bank, we are committed to fostering such entrepreneurial spirit, which is crucial to India's growth story," said Vikas Sharma, Head of Wealth Management and Private Banking at IDFC FIRST Bank.
Top Performers
The list showcases a range of entrepreneurs across industries, with Radhakishan Damani of Avenue Supermarts securing the top spot, followed by Deepinder Goyal of Zomato and Sriharsha Majety and Nandan Reddy of Swiggy.
Radhakishan Damani
Founder of DMart, Radhakishan Damani, leads the rankings with a valuation of INR 3.4 lakh crore, reflecting a 44% increase in value. Established in 2002, DMart has become India's largest retail chain, with FY24 revenues of INR 51,000 crore, growing 19% from the previous year.
Deepinder Goyal
Gurugram-based Zomato, founded by Deepinder Goyal, witnessed an impressive 190% increase in valuation, now surpassing INR 2.5 lakh crore. From its humble beginnings in 2008 as an online menu platform, Zomato has revolutionised food delivery in India.
Sriharsha Majety and Nandan Reddy
Swiggy's co-founders secured the third position with a valuation of INR 1 lakh crore. Initially launched in 2011 as Bundl, a courier service, Swiggy pivoted to food delivery in 2014 and has since expanded to over 580 cities.
Notable New Entrants in the Top 10
Deep Kalra and Rajesh Magow of MakeMyTrip debuted in the fourth position with a valuation of INR 99,300 crore. The duo has played a pivotal role in digitising India's travel industry.
Yashish Dahiya and Alok Bansal, founders of Policybazaar, ranked sixth, with a valuation of INR 78,600 crore—a 128% increase from last year.
Nithin Kamath and Nikhil Kamath, founders of Zerodha, valued at INR 64,800 crore, ranked eighth among Indian firms. Nikhil also launched the "WTF Fund" to support young entrepreneurs in various sectors.
Women Leadership in Entrepreneurship
Falguni Nayar, founder of Nykaa, entered the top 10 for the first time with a valuation of INR 56,600 crore. Formerly a banker, Nayar disrupted the beauty and personal care market with Nykaa's wide-ranging portfolio.
The report also emphasises the contribution of these businesses to employment and societal growth.
Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said, "The IDFC FIRST Private & Hurun India's Top 200 Self-made Entrepreneurs of the Millennia 2024 showcases the extraordinary impact of self-made entrepreneurs on India's economy, with a total business value of USD 431 billion—equivalent to a quarter of the value of India's 200 Most Valuable Family Businesses, despite being founded within the last 24 years compared to the latter's 69-year average age."
"Four companies founded post-2020 are now collectively valued at INR 69,400 crores. These entrepreneurs are driving growth and contributing to nation-building, with employee benefits increasing from INR 49,000 crore to INR 54,000 crore this year, reflecting their investment in people," Junaid added.
The list captures the essence of India's entrepreneurial spirit, showcasing leaders who turned challenges into opportunities and built world-class businesses in under 24 years. With continued innovation and strategic vision, these trailblazers are setting new benchmarks for success in modern India.
