India’s Economy Set to Double by 2030, Becoming the Third Largest in the World


India’s Economy Set to Double by 2030, Becoming the Third Largest in the World

Top 10 largest companies in India for 2024

 
10 Largest Companies of India 2024

India, currently the world’s fifth-largest economy, is projected to nearly double its GDP from $3.6 trillion in 2023-24 to over $7 trillion by 2030-31, according to S&P Global Market Intelligence. This growth will make India the third-largest economy globally, increasing its share of the global GDP from 3.6% to 4.5%. India’s per-capita income is also expected to rise, placing the country in the upper-middle-income group.

India's Largest Companies Drive Economic Growth

India’s biggest companies are contributing to this rapid growth, with 71 Indian firms now listed on the Forbes Global 2000, up from 55 last year. India has surpassed the UK and South Korea, placing it among the top five countries with the most companies on the list.

Reliance Industries Leads in 2024

Reliance Industries, led by Mukesh Ambani, is India’s largest company in 2024, ranking 49th globally. With $109 billion in sales and a market value of $233 billion, it remains a key player in driving India’s economy forward.

LIC Makes Huge Gains

The Life Insurance Corporation of India (LIC) saw a major jump on the global list, rising from 362nd to 70th place. LIC’s profits increased ninefold to $4.9 billion, and its stock price surged by 70% since its public listing in 2022. 

Top 10 Largest Companies in India for 2024

Company Name India Rank Global Rank
Reliance Industries 1 49
State Bank of India 2 55
HDFC Bank 3 65
Life Insurance Corporation (LIC) 4 70
ICIC Bank 5 142
Oil and Natural Gas 6 207
Indian Oil 7 259
Tata Motors 8 284
Axis Bank 9 293
NTPC 10 372

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