Tuesday, February 27, 2024
Tuesday, February 27, 2024
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India’s most valuable companies in 2023 will exceed the combined GDP of Saudi Arabia and Switzerland Singapore: report


New Delhi: India’s most valuable companies in the 2023 Burgundy Private Hurun India 500 have a cumulative value of $2.8 trillion (Rs 231 lakh crore), which is more than the combined GDP of Saudi Arabia, Switzerland and Singapore, Burgundy Private and Hurun India published the third edition of ‘India’s 500 Most Valuable Private Companies’, it said on Monday.

The threshold to qualify for the Burgundy Private Hurun India 500 2023 is INR 6,700 crore, up 13% from last year’s INR 5,947 crore.

Reliance Industries has become India’s most valuable company worth Rs 15.6 lakh crore, followed by Tata Consultancy Services with Rs 12.4 lakh crore and HDFC Bank with Rs 11.3 lakh crore, the report said. .

“Reliance Industries continues its reign at the top position for the third consecutive year in the Burgundy Private Hurun India 500. Worth Rs 15,64,663 crore, Reliance Industries is valued at least Rs 3 lakh crore more than TCS, which is number 2 in the 2023 Burgundy Private Hurun India 500,” the report added.

The merger of HDFC Ltd with HDFC Bank facilitated HDFC Bank becoming the third Indian company to cross the market capitalization of INR 10 lakh crore. HCL Technologies and Kotak Mahindra Bank return to the top 10 list in the 2023 edition of Burgundy Private Hurun India 500.

Burgundy Private Hurun India 500 companies of 2023 employ 70 lakh people, with an average of 15,211 employees per organization. 437 companies in the Burgundy Private Hurun India 500 list of 2023 have women representation on their boards of directors. According to the report, 179 companies in the 2023 Burgundy Private Hurun India 500 are led by professional CEOs.

The Burgundy Private Hurun India 500 of 2023 comprises companies from 44 cities in India, led by Mumbai (156), Bengaluru (59) and New Delhi (39). The top three cities contributed 254 participants, compared to 264 participants in the 2022 India 500.

“As India moves towards a $5 trillion economy, it will be critical to leverage emerging trends such as China plus 1, MSME and ‘Bharat’, which will act as growth engines for the country,” Amitabh Chaudhry, CEO and Director executive. said Axis Bank.

“With their collective value exceeding the GDP of prominent nations, this list exemplifies India’s rise as a global economic power,” said Anas Rahman Junaid, MD and Chief Researcher at Hurun India.



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