Hyderabad and Gurugram jumped a place each in the list of the top 10 cities in India's business landscape, reflecting a shift in the country's business dynamics, according to the 2024 Burgundy Private Hurun India 500.
Mumbai, Bengaluru and New Delhi continue to rank first, second and third in the list, which features companies from 43 cities, with these three metro cities contributing 235 entrants.
Mumbai tops the chart with 154 companies, followed by Bengaluru with 44 companies. New Delhi ranked in the third position with 37 companies. These three cities saw loss of companies in 2024.
Gurugram ranks fourth with 36 companies, a gain of three more companies compared to last year when it had ranked fifth.
Hyderabad ranks fifth with 35 companies and an addition of six more companies in 2024. It had ranked sixth last time.
In the state rankings, Haryana moved up two spots from last year, surpassing Delhi to enter the top 3 for the first time in the Burgundy Private Hurun India 500. While Mumbai and Bengaluru saw declines, Haryana's rise marks a significant shift in the country's corporate landscape.
The 2024 Burgundy Private Hurun India 500, released on Wednesday by Burgundy Private — Axis Bank's private banking business — and Hurun India, is the fourth edition of this ranking, featuring India's 500 most valuable companies. The list includes companies headquartered in India, excluding state-owned enterprises and subsidiaries of foreign and Indian firms.
As of Dec. 13, 2024, the minimum valuation for inclusion was Rs 9,580 crore or $1.1 billion. The combined value of the listed companies stands at Rs 324 lakh crore or $3.8 trillion.
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