DMart's Radhakishan Damani to Nykaa's Falguni Nayar: Meet India's top self-made entrepreneurs for 2024, youngest is 21

Radhakishan Damani, the founder of Avenue Supermarts, the parent company of the retail giant DMart, has once again claimed the top spot as India’s leading self-made entrepreneur. With a remarkable 44% growth from last year, Damani's business is now valued at Rs 3.4 lakh crore, according to the second edition of the "India’s Top 200 Self-made Entrepreneurs of the Millennia 2024" list by IDFC FIRST Private and Hurun India. This list recognizes the founders of the most valuable companies created since the turn of the century, based on the enterprise value of their businesses, rather than their net worth.

Top Entrepreneurs of India

Following Damani, Deepinder Goyal, the founder of Zomato, secured the second spot. The popular food delivery platform saw a 190% jump in valuation, reaching Rs 2.5 lakh crore. In third place are Swiggy co-founders Sriharsha Majety and Nandan Reddy, with their company achieving a valuation of Rs 1 lakh crore, a 52% growth from last year. Swiggy remains a key player in India’s food delivery and quick-commerce sectors.

The list also highlights significant new entrants. MakeMyTrip co-founders Deep Kalra and Rajesh Magow debuted in fourth place, with their travel booking platform’s valuation climbing 168% to Rs 99,300 crore. Similarly, PolicyBazaar’s founders, Yashish Dahiya and Alok Bansal, joined the top 10 with their online insurance marketplace valued at Rs 78,600 crore, reflecting a 128% increase.

Prominent Women Entrepreneurs

Falguni Nayar, founder of the beauty and wellness platform Nykaa, became the highest-ranked woman entrepreneur, securing the 10th position. Nykaa’s valuation grew by 30% to Rs 56,600 crore, further solidifying its position in the e-commerce space.

Youngest Entrepreneurs Make an Impact

The rise of young entrepreneurs has been a major highlight this year. Kaivalya Vohra, the 21-year-old co-founder of Zepto, saw his company’s valuation grow by 259% to Rs 41,800 crore, making him one of the biggest gainers. His co-founder, Aadit Palicha, aged 22, and BharatPe’s Shashvat Nakrani, aged 26, also featured prominently on the list.

Key Insights from the Report

Entrepreneurial Growth: The 200 featured entrepreneurs have collectively created businesses valued at Rs 36 lakh crore, employing nearly one million people.
Geographical Distribution: Bengaluru remains the top hub for these entrepreneurs, hosting 66 companies, followed by Mumbai (36) and Gurugram (31).
Educational Background: A majority of the founders (51%) are engineering graduates, with IIT Delhi contributing 36 founders to the list.
Sector Representation: Financial services dominate, with 50 companies, followed by healthcare and retail (25 each).
Global Presence: Over one-third of the listed companies have established operations abroad, with firms like OYO operating in 80 countries.
Fast-Growing Companies and Unicorns

The report revealed that 97 companies on the list are less than 10 years old, collectively valued at Rs 11 lakh crore. Zepto, with its 259% valuation growth, emerged as the fastest-growing company, while Zomato recorded a massive valuation jump of Rs 1.65 lakh crore.

Generational Shift and Philanthropy

The average age of the entrepreneurs is 45, with 35 founders born in the 1990s. However, only seven of them featured in the Hurun India Philanthropy List 2023, indicating room for growth in giving back to society.

The "India’s Top 200 Self-made Entrepreneurs of the Millennia 2024" report showcases the dynamism and innovation driving India’s economy, offering a glimpse into the future of entrepreneurship in the country.