India’s entrepreneurial landscape has reached a significant milestone. The third edition of The recently published third edition of the IDFC FIRST Private & Hurun List India's Top 200 Self-Made Entrepreneurs of the Millennium 2025 marks a historic milestone: for the first time, a "new-age" technology founder has attained the top position.
Deepinder Goyal, the founder of Eternal (the parent company of Zomato), has established himself as India's leading self-made entrepreneur, surpassing the veteran retail magnate Radhakishan Damani of DMart.
A New Era for Tech and Innovation
Deepinder Goyal's rise to the top is more than just a personal victory; it is also a sign of the Indian economy's health.
Although wealth lists have historically been dominated by traditional brick-and-mortar giants, the 2025 report emphasizes the enormous scope of digital-first platforms.
Eternal's valuation increased by 27% in the past year, reaching a staggering ₹3.2 lakh crore. Damani is ranked second with a valuation of ₹3 lakh crore, while Avenue Supermarts (DMart) experienced a 13% decline.
Hurun List India’s Top Self-Made Entrepreneurs 2025
The top 10 list is a mix of aviation, healthcare, and digital services, showcasing the diversity of India’s billionaire club:
| Rank | Name | Company | Valuation (INR) |
| 1 | Deepinder Goyal | Eternal | ₹3.2 lakh crore |
| 2 | Radhakishan Damani | Avenue Supermarts | ₹3 lakh crore |
| 3 | Rahul Bhatia & Rakesh Gangwal | IndiGo | ₹2.2 lakh crore |
| 4 | Abhay Soi | Max Healthcare | ₹1.1 lakh crore |
| 5 | Sriharsha Majety & Nanda Reddy | Swiggy | ₹1.06 lakh crore |
| 6 | Deep Kalra & Rajesh Magow | MakeMyTrip | ₹94,500 crore |
| 7 | Yashish Dahiya & Alok Bansal | PB Fintech/Policybazaar | ₹81,100 crore |
| 8 | Vijay Shekhar Sharma | Paytm | ₹72,900 crore |
| 9 | Falguni Nayar & Adwaita Nayar | Nykaa | ₹67,500 crore |
| 10 | Peyush Bansal & Team | Lenskart | ₹67,000 crore |
Take a look at the 2024 Hurun Rich List to see how it compares to the 2025 list.
Key Takeaways from the 2025 Report
- The "Startup" Hubs: Bengaluru continues to lead as India’s primary startup hub with 52 companies, though Mumbai and Gurugram are catching up rapidly, each adding five new companies to the list this year.
- The Youth Wave: The report highlights a "new wave" of young founders. Leading the Gen Z charge are Zepto co-founders Kaivalya Vohra (22) and Aadit Palicha (23), whose quick-commerce platform is now valued at ₹52,400 crore.
- Sectoral Dominance: Financial Services remains the top sector for wealth creation (47 companies), followed by Software & Services and Healthcare.
- Rising Stakes: The bar for entry is getting higher. The minimum valuation required to enter the Top 200 rose by 26% this year to ₹4,300 crore.
Did you know gold prices in 2025 rose by 42.92% compared to 2024? Save money in digital gold on the Jar app.
Final Thoughts
The Hurun list for 2025 demonstrates resilience and rapid growth. Billion-dollar valuations, which once took decades to build, are now achieved in 10 to 15 years.
India's "self-made" story is obviously just getting started as tech-enabled consumer brands like Lenskart and Paytm rise to prominence and young Zepto founders upend traditional retail.
