Over the past seven years, India’s startup ecosystem has grown exponentially, reaching a valuation of $136 billion by FY 2024. Bangalore continues to dominate as the country’s premier startup hub, outpacing Mumbai, according to the IDFC First Private & Hurun India Top 200 Self-Made Entrepreneurs of the Millennia 2025 report. The survey focused on 200 entrepreneurs who built industrial empires from scratch.
For the first time, Deepinder Goyal, founder of Gurgaon-based food delivery platform Zomato, claimed the top spot, surpassing Radhakishan Damani of Avenue Supermarts (DMart). Goyal’s company is valued at ₹3.2 lakh crore, a 27% increase over last year and operates in over 800 Indian cities with international expansion. Beyond delivery, Zomato now offers subscription services like Zomato Gold and ventures into cloud kitchens.
Damani ranks second with a valuation of ₹3 lakh crore, despite a 13% decline from last year. InterGlobe Aviation founders Rahul Bhatia and Rakesh Gangwal, whose airline Indigo commands over 65% of India’s domestic market, are third with a valuation of ₹2.2 lakh crore.
Hurun India founder Anas Rahman Junaid highlighted that the combined valuation of India’s top 200 self-made entrepreneurs is $469 billion, reflecting their significant contribution to employment, innovation and national economic growth.
