The recent release of the Hurun India list 2023 has brought to light the remarkable achievements of self-made entrepreneurs across the country. Topping the chart is Bengaluru, with an impressive 129 individuals making it to the list, followed by Mumbai, Gurugram, and New Delhi. The report, a collaboration between IDFC FIRST Private Banking and Hurun India, showcases the rise of 156 founders of 68 unicorns, highlighting the growing impact of self-made entrepreneurs in India’s business landscape.
Leading the pack is Radhakishan Damani, the visionary founder of retail chain D-Mart, with a market capitalisation of Rs 2.38 lakh crore. Following closely are the dynamic founders of Flipkart, Binny Bansal and Sachin Bansal, with an equity value of Rs 1.19 lakh crore. This illustrious group of individuals has demonstrated exceptional talent and innovation, propelling India’s entrepreneurial ecosystem to new heights.
The report further reveals that 34% of the companies in the list have global operations, underscoring the far-reaching impact of these ventures. It is also noteworthy that 32 of the founders were born in the 1990s, signalling the emergence of a new generation of trailblazers in the business world. Additionally, 108 founders of 64 companies featured in the list are also among the esteemed entrants of the Hurun India Rich List 2023, further cementing their influential status in the business arena.
Vikas Sharma, head of wealth management and private banking at IDFC FIRST Bank, commented on the significance of the list, emphasising its recognition of first-generation entrepreneurs who have created valuable enterprises across diverse industries. The inclusion of financial services and retail as leading sectors in the list highlights the dynamic nature of India’s business landscape, showcasing the impressive accomplishments of visionary founders.
The roster of the top 10 most valuable companies founded in the millennium features eight innovative start-ups, including Zerodha, Razorpay, Paytm, and Zomato. Additionally, the list pays homage to the remarkable achievements of dynamic women entrepreneurs, with Mamaearth’s Ghazal Alagh and Winzo’s Saumya Singh Rathore making their mark as some of the youngest and most influential figures in the business world.
Anas Rahman Junaid, Managing Director and Chief Researcher at Hurun India, lauded the diversity and vibrancy seen among the entrepreneurs featured in the list, noting the presence of individuals across various age groups, gender, and geography. The list’s revelation that one-third of the featured entrepreneurs are under 40 years old underscores the growing influence of young leaders in shaping India’s entrepreneurial landscape. It is also striking to observe Bengaluru’s prominence as the top choice for most of the founders in the list to establish their companies, a significant departure from the preferences revealed in the Hurun India Rich List.
The Hurun India list 2023 not only celebrates the exceptional achievements of self-made entrepreneurs but also offers a powerful testament to the dynamic and thriving business landscape in India. It sheds light on the remarkable vision, innovation, and resilience of the individuals who continue to push boundaries and make significant contributions to the nation’s economy. As the entrepreneurial spirit continues to soar, it is evident that India’s self-made entrepreneurs are paving the way for a future defined by unparalleled growth and ingenuity in the business world.
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